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  • Immediate Debt Relief
  • Rebuild Your Credit
  • Lower Interest Rates

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Author Absa. Screenshot of Absa website.
[Accessed May 11, 2023]

About Absa

Amalgamated Banks of South Africa, known as Absa is the third biggest bank in the country. Absa came into being when the Volkskas and Allied groups and some of the Sage Group stakeholders merged in 1991.

Absa’s customer-centric values

They're customer-oriented and care deeply about your experience and seek to anticipate your needs, so they can exceed your expectations. They’re efficient and accountable and deliver on their promises.

They're all about the people from whom they derive their strength, and are uniquely African. Their story is one of people joining together to consider their priorities and communicate their aims and ambitions. They strive to actualise these possibilities and create a future we can all share.

High-achieving inventors who like winning

They're fast-acting, yet responsible and have the courage to learn from history, while they blend different experiences to build a better future. They encourage their people to live fully, with honest and empowering collaboration.

They're working with communities across Africa to help people live their dreams and reach their goals, proactively reaching out to them to create possibilities.

Dedicated to creating customised answers to South African issues, all they do is centred on adding value for their partners.

Therefore, they're offering solutions for corporate business, retail, wealth banking, investment, and insurance, as well as investment management. Always at work, making banking more accessible for you, they've also improved their ATMs.

How Absa wants to help you

Absa's services include business and personal banking, credit cards, investment, and corporate banking, investment and wealth management, and bancassurance. This is the marketing of insurance products and life assurance by banks.

Absa consolidation loans for better debt management 

Do you feel that your debt is a problem? Are you spending your whole salary on paying your bills? Then debt consolidation may be the answer you’ve been looking for.

The sooner you look for assistance the better. Absa is there to help you. They'll consult and work with you to assess your situation and help you get back in control again.

Work with them to regain your footing, money-wise

Let them offer you services to lower the debt you have with all lenders, including them, leading to more financial freedom.

With the National Credit Act regulating lending practices, Absa ensures transparency, fairness, and responsibility. By partnering with you in this rewarding journey, Absa empowers you to understand and question your credit agreements. Whether it's loans, mortgages, credit cards, or other personal finances, Absa's consolidation loans can help you consolidate and simplify your debt.

Debt management: A helping hand when

If you usually don't have enough money to last the month, it may seem impossible to make it stretch, but Absa can show you ways to lower your debt and regain your financial fitness.

If you've had debit orders that have bounced or missed a payment, if you're using payday loans or credit cards to pay your debts, or if you've stopped paying completely, Absa is there to help you better manage your debts.

  • Create a budget to find out what your total monthly expenditure is.
  • Cut back on non-essentials, e.g. DSTV, gym contracts, entertainment, magazines, and luxury food items.
  • Ascertain if your income doesn't cover your expenses.
  • Reduce non-essentials (cancel subscriptions, etc) and prioritise paying your debts.
  • Contact your lenders and ask them to extend your payment period.

If you've done all of these and still can't make out, consider the Absa consolidation loans available to you.

Absa – Consolidation Loan

  • Loan Type Debt Consolidation Loans

Benefits of Absa

  • Affordable repayment term
  • Best loan deal for your needs
  • Competitive interest rates

An international bank with strong African roots

Absa's listed on the Johannesburg Stock Exchange (JSE) and has a footprint in 15 countries, including Zambia, Tanzania, Uganda, South Africa, Seychelles, Mozambique, Kenya, and Botswana. In addition, they have offices in Nigeria and Namibia and securities bodies in the USA and the UK, and also an IT branch in Czechoslovakia.

Absa is a Top Employer and was certified as such by the Top Employer Institute. They have a strong work ethic and pay competitive salaries. They have more than 28 000 workers countrywide and over 38,000 worldwide.

They're also leading the way forward, winning two awards at the Global Innovation Awards 2021, for the best digital bank in the country and their interactive chatbot, Abby.

About Absa consolidation loans

This Absa consolidation loan will convert a lot of your debts into a single loan payment, making your payments simpler. These loans may be available at a lower interest rate than the one you're already paying.

Absa guarantees the lowest interest rate. If you combine several debts into one loan, you'll have fewer payments and a decreased interest rate to be concerned with. This process may improve your credit by making it less likely that you'll make late payments or even miss a payment.

Cons of debt consolidation

It can make your credit score drop by over 10 points and it'll be on your credit report for some time. If your providers close your accounts when you settle them, it can cause an increase in your credit utilisation, negatively impacting your credit score. The effects are only temporary, however.

If you do decide on a debt consolidated loan from Absa, it'll help simplify your debts and lower the monthly premiums you pay. You may not save on interest but be given more time, ie a longer loan period that will enable a reduction in your loan period.

This can come as a welcome relief and make it possible to pay off your debts in less time. Absa will convert all your loans and directly pay your providers.

Impressive long-standing goals

  • To be a positive influence in all they do.
  • To be their customers' main bank.
  • They recognise the need to do business in an increasingly digital world.
  • To lead market growth.

Requirements for an Absa consolidation loan

  1. A regular income of at least R2000.00 per month
  2. You're at least 18
  3. A working bank account that receives your income

Supporting documents Absa will request

  • Valid South African ID/ smart card
  • Recent proof of residence (not older than 3 months)
  • Last 3 months' bank statements or payslips
  • A settlement letter from your credit provider for your loans
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Absa is a trusted & reliable provider of debt consolidation loans

In our review, Absa adheres to the compliance criteria in accordance with the National Credit Act, where the granting the loan will not cause financial distress to the consumer.

✅ Absa is a registered credit provider in South Africa: NCRCP7

Absa Contact

Physical Address

  • 291 Robert Sobukwe St, Sunnyside Pretoria Gauteng 0002 South Africa
  • Get Directions

Absa Universal Branch Code

  • 632005

Opening Hours

  • Monday 08:00 – 17:00
  • Tuesday 08:00 – 17:00
  • Wednesday 08:00 – 17:00
  • Thursday 08:00 – 17:00
  • Friday 08:00 – 17:00
  • Saturday 09:00 – 14:00
  • Sunday – Closed