Absa Personal Loans
Absa Personal Loans offers personal loans from R3,000 - R250,000 with 21% APR. NCR-registered lender with flexible repayment terms.
About Absa Personal Loans
Absa Personal Loans is an NCR-registered credit provider offering personal loans to South African consumers. With loan amounts ranging from R 3 000 to R 250 000 and flexible repayment terms, Absa Personal Loans provides accessible credit solutions.
📊 Key Facts about Absa Personal Loans
| Type of entity | Credit Provider |
| Minimum amount | R 3 000 |
| Maximum amount | R 250 000 |
| Available terms | 6 - 73 months |
| Typical APR | 21% |
| Approval time | Same day |
| Payout | 1-3 business days |
| Regulated by | NCR (Registration NCRCP7) |
| Credizen Rating | 4.5/5.0 ⭐ |
Loan Specialist | 25 years of experience
Absa Personal Loans stands out as one of the most trusted options in the South African personal lending market. With amounts available up to R 250 000, Absa Personal Loans is especially recommended for significant financial needs. I recommend Absa Personal Loans especially for those who value speed and transparency in the credit process.
When to use Absa Personal Loans?
- ✓ Significant medical expenses or treatments
- ✓ Home repairs or vehicle maintenance
- ✓ Debt consolidation (with proper planning)
- ✓ Unexpected expenses that cannot wait
- ✓ When you need money within 24-48 hours
"As an expert with 25 years in the financial sector, I evaluate each lender based on transparency, real costs, and user experience. This recommendation is continuously updated based on market changes."
🔒 Security and regulation
Regulated by NCR
Absa Personal Loans is registered with the National Credit Regulator (NCR) under registration NCRCP7.
Data protection
Complies with the Protection of Personal Information Act (POPIA). Your information is encrypted and not shared without authorization.
Cost transparency
All costs must be included in the APR (Annual Percentage Rate). Demand to see the total cost before signing any agreement.
Consumer rights
Protected by the National Credit Act (NCA) and Consumer Protection Act. You have the right to early settlement without penalties in most cases.
Loan Details
Loan Amounts
Repayment Terms
Interest Rate
Representative example. Actual rate depends on your credit profile.
Key Features
Loan Cost Example
Representative Example: This shows estimated costs for a typical loan. Your actual costs may vary based on your credit profile.
Loan Details
| Loan Amount | R 10 000 |
| Loan Term | 12 months |
| APR | 21% |
| Monthly Payment | R 1 008 |
Cost Breakdown
| Principal Amount | R 10 000 |
| Total Interest | R 2 100 |
| Initiation Fee (est.) | R 1 140 |
| Total Amount to Repay | R 13 240 |
Ready to Apply at Absa Personal Loans?
Get loans from R 3 000 to R 250 000 with 21% APR. Fast approval - often same day!
Apply Now at Absa Personal LoansEligibility Requirements
- ✓ Age 18-65 years
- ✓ South African citizen or permanent resident
- ✓ Minimum monthly income R5,000
- ✓ Valid Absa bank account
- ✓ Good credit score required
- ✓ South African bank account
- ✓ Valid ID document
Advantages & Disadvantages
✓ Pros
- • Competitive rates from 14.5% for premier clients
- • Up to R250,000 loan amount
- • Flexible repayment terms up to 72 months
- • Instant approval for existing Absa clients
- • Rewards points on loan repayments
- • High amounts available up to R 250 000
- • Long terms that facilitate monthly payments
- • Competitive interest rates for the market
- • NCR registered (NCRCP7)
- • High trust rating (4.5/5.0)
✗ Cons
- • Must be Absa account holder for best rates
- • Credit life insurance mandatory
- • Application processing fees apply
Frequently Asked Questions
How much can I borrow from Absa Personal Loans?
You can borrow between R 3 000 and R 250 000, depending on your credit profile and affordability assessment.
What is the interest rate at Absa Personal Loans?
Absa Personal Loans offers loans with an APR example of 21%. The actual rate you receive will depend on your individual credit assessment and affordability.
How long are the repayment terms?
Repayment terms range from 6 to 73 months, giving you flexibility to choose a term that suits your budget.
Is Absa Personal Loans registered with the NCR?
Yes, Absa Personal Loans is a registered credit provider with the National Credit Regulator (NCR) (Registration: NCRCP7), ensuring compliance with the National Credit Act.
Can I apply for Absa Personal Loans loans from any city in South Africa?
Yes, Absa Personal Loans accepts applications from residents across South Africa, including major cities like Johannesburg, Cape Town, Durban, Pretoria, and many others. The application process is fully online, making it accessible regardless of your location.
How do I know if I can afford a loan from Absa Personal Loans?
Absa Personal Loans conducts an affordability assessment as required by the National Credit Act. Your monthly repayment should not exceed 30-35% of your net monthly income. Use the loan cost calculator on this page to estimate your monthly payment.
What are the alternatives to Absa Personal Loans?
If Absa Personal Loans doesn't meet your needs, consider other NCR-registered lenders offering similar loan amounts and terms. Compare multiple options to find the best rates and terms for your situation.
How long does it take to get approved by Absa Personal Loans?
Absa Personal Loans typically provides fast approval decisions, often within hours of application. Once approved, disbursement times depend on your bank and the verification process.
Can I settle my Absa Personal Loans loan early?
Under the National Credit Act, you have the right to settle your loan early. Contact Absa Personal Loans directly to get an early settlement quote. Early settlement may reduce the total interest paid, but check if any early settlement fees apply.
What fees does Absa Personal Loans charge?
Absa Personal Loans charges fees in accordance with NCR regulations. Common fees include an initiation fee (capped at 15% of the loan amount, maximum R1,140) and monthly service fees (maximum R60). Always review your loan agreement for the complete fee structure before signing.
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Absa Personal Loans accepts loan applications from residents across South Africa. Apply online from these major cities and more:
Apply Now
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View All LendersDisclaimer: Credizen is a comparison platform and not a lender. We receive compensation from Absa Personal Loans when you apply through our site. Loan approval and terms are subject to Absa Personal Loans's credit assessment and affordability checks.
Responsible Lending: Before applying, ensure you can afford the monthly repayments. Defaulting on credit agreements can negatively affect your credit score. This information is provided for comparison purposes only. Always read the terms and conditions from Absa Personal Loans before accepting a loan offer.
Emergency Financial Help
If you're experiencing financial difficulties, contact your local financial counseling service.
- South Africa: National Credit Regulator - 0860 627 627
- Romania: ANPC - 0213142200
- Colombia: Superintendencia Financiera - (571) 594 2222
- Poland: KNF - 22 262 5000