You don’t need an Absa account for an Absa Personal Loan of 12 months or more. You need a bank account receiving your income and must be 18 or older.
Get your documents ready and match the borrowing minimum to your expense
Prepare your South African ID book or card and your last three months’ payslips or bank statements. Pensioners and self-employed applicants have specific documents.
Borrowing starts at R3 000. If you’re not an Absa customer, also bring proof of residence no older than three months, such as a municipal or rates bill.
What the example costs, and how your rate differs
Absa Bank Limited’s example uses R50 000 over 36 months at 18% a year. Estimated R2 113 instalments total R76 068, including service and initiation fees; check if your offer includes insurance.
APR starts at 13.75% a year, with your rate set by your credit profile. Credit life insurance is compulsory. Establish its cost in your offer.
The essentials for your personal loan application
For terms of 12 months or more, have these essentials ready.
- Be 18 or older, with ID and income documents.
- Have compulsory credit life insurance.
- For 12 months or more, earn R2 000 a month, paid into an account.
- Non-clients need address proof no older than three months.
Choose your route to an Absa loan
- Estimate your borrowing with Absa’s calculator.
- Apply on the product page if you’re new to Absa.
- Existing clients can use Absa’s digital banking.
FAQ
What income and account do I need for a smaller, shorter Absa loan?
For a smaller loan over 2 to 6 months, you need a regular R1 500 monthly income paid into an active Absa account.
Which documents do I need if I apply as a self-employed borrower?
Bring an ITA34 tax certificate and six months’ financial statements. Add an official accountant or bookkeeper letter on financial health.
What income document do I need as a pensioner?
As a pensioner, you need a pension statement or retirement annuity statement for your personal loan application.
Can I check for an offer if I already bank with Absa?
If you already bank with Absa, check online for a provisional loan offer. You may have one available; it isn’t final approval.