Absa Bank, a prominent financial institution operating across numerous African countries, offers a range of financial services including personal loans, car loans, and home loans.  The Absa Personal Loans boasts flexibility in loan amounts, with options up to R350,000, and repayment periods extending up to 84 months (or even as short as 2 months for existing Absa customers).


Customers benefit from competitive interest rates, with existing Absa clients potentially eligible for special offers.

Absa’s commitment to personalised service extends to interest rates, with competitive annual percentage rates (APR) starting from 13.75% annually, ensuring borrowers receive rates tailored to their financial circumstances.


Additionally, Absa guarantees the best interest rates available in the market. Should a borrower find a lower rate elsewhere, Absa pledges to match or better it.

One notable feature is the option to consolidate multiple loans into a single personal loan, simplifying management and potentially saving on interest payments with the best guaranteed rates.

The Absa Credit Protection Plan offers added security, shielding borrowers from unforeseen financial hardships such as illness, disability, or loss of income. This comprehensive protection plan alleviates the burden in times of uncertainty, providing peace of mind to borrowers and their families.

Loan simulation

The estimated monthly loan repayment amount will be R2,113, if anyone takes a R50,000 loan for over 36 months at an interest rate of 18% annually. This amount is Included all service and initiation fees.


To get eligible for Absa Personal Loans, you must be at least 18 years old. If you want to get the loan for 12 months or more, you should have a regular income of at least R2000 per month and the income must be paid in a bank account. Active Absa users with a monthly income of R1500, you can have a short term loan for 2 to 6 months.

If you are a new customer you have to submit your ID document, latest income proof, 3 months bank statements and a proof of your residence not older than 3 months.

About the bank Absa

Absa Group Limited is one of the largest financial services providers in Africa. Absa is operating in 15 countries inside Africa and has offices in the United Kingdom and the United States.

The bank is operating in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania, Uganda, Mozambique, Nigeria, Uganda and Zambia in Africa and has representative offices in the United States, United Kingdom and China.

The main purpose of this bank is to contribute significantly to the socio-economic development of the society through economic empowerment. Absa aims to Increase employment opportunities to ensure better livelihoods by ensuring quality education.

No economy can perform well without developing businesses. Absa partnership programs offer a number of development funding solutions to qualify small to medium enterprises.

Absa Credit Protection Plan will protect you and your family from financial burden, if you face disability permanently or temporarily, diagnosed with severe or terminal illness, lose your income or in the event of your death.

Step by step to take out the Absa Personal Loans

You can apply online for the Absa personal loan. Just visit the Absa Personal Loans page and click on the apply now button. If you are a new customer, submit necessary information and if you are an existing customer, verify your account.

Then enter the amount you would like to borrow and the repayment term. The estimated monthly instalment amount will be shown. Select the reason why you are borrowing and press continue to confirm your personal, income and expenditure details.

After you submit the application, the loan amount will be sent to your bank account.


Positives and negatives of the Absa Personal Loans

Positive sides

  • Flexible amounts and repayments;
  • Combine all your loans into one personal loan and save on interest;
  • Market winning interest rate;
  • Existing Absa customer may have a provisional loan offer;
  • Credit Protection Plan will cover you from unwanted incide;
  • If you are offered a lower interest rate from others, Absa will compete with it.

Negative sides

  • Have to submit a lot of documents;
  • The maximum repayment term is 84 months;
  • Eligibility restrictions with minimum entry fees;
  • Has service charge,  credit protection Plan fee and Initiation fee.

What other types of loans does the bank offer?

Besides Absa personal loan, it has express loan and instant loan. Express loan is exclusive to Absa customers who need money and want to pay it back quickly. It is a short term loan from R1,500 to R8,000 and it comes with a fixed repayment term of up to 6 months.

Absa Instant Loan is also exclusive to Absa customers but the uniqueness is you can have this loan instantly from any Absa ATM, Cellphone banking or Absa Online. You can get instant loan of R8000 to cover your immediate needs.

Beside those, Absa has loans for personal needs, home loan, car loan, and study loan.

Fees & fees

The interest rate for this loan is 13,75% per annum. But they guaranteed a market winning interest rate. So if you find a lower interest rate anywhere else, contact them, they will better it.

It also has a credit protection Plan fee and Initiation fee based on the borrowing amount.

Customer service

Absa head office is located at  Absa Towers West, 15 Troye Street, Johannesburg, Gauteng, South Africa, 2000. You can request a call back by putting necessary information on their website.

For any other queries, you can call them directly at 0860 100 372 or visit the nearest branch. You can find the nearest branch from your location on their website. In case of lost or stolen cards call at 011 501 5050 or 0800 11 11 55.

You can visit Absa on social media. They are actively using Facebook, Twitter (X), and Linkedin.


To ensure customer experience smooth financial facilities, Absa Bank has mobile apps for Apple Store, Play Store and Huawei AppGallery.


In short

In summary, the personal loan offered by Absa Bank comes with several advantages, such as flexibility in loan amounts and repayment terms, along with competitive interest rates. However, there are also some limitations, such as the need for extensive documentation and additional fees.

With a wide range of financial services available and a commitment to customer protection, Absa Bank remains a viable option for those seeking loan solutions in the African region.