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  • Personal Loans up to R350,000
  • Low-interest starting from 13.75%
  • Repayment up to 84 months

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ABSA homepage
Author ABSA. Screenshot of ABSA website.
[Accessed May 4, 2023]

About ABSA

In April 1991 Amalgamated Banks of South Africa (ABSA) was established through a merger of the Allied and Volkskas Groups, USB Holdings, and certain stakeholders of the Sage Group.

In 1992 ABSA acquired Bankorp Group (which included Bankfoot, Trustbank and Senbank), thus expanding its customer base and reach.

With more than 38,000 employees globally and over 28,000 in South Africa Absa is one of the biggest banks in the country and across Africa.

Included are Botswana, Ghana, Mauritius, Kenya, Seychelles, Tanzania, Uganda, Zambia. ABSA is also in the UK and USA. They also have an incredible 632 branches locally.

Inspired by you

An African brand, Absa is inspired by the people they serve and intend on always being brave, passionate and ready to realise possibilities.

Absa Bank, a wholly owned subsidiary of ABSA Group Limited offers a wide variety of financial products and solutions to clients across the country. This includes everything from personal loans and transnational accounts to investment and property finance solutions.

There is power in access to financial services

Absa believes you should have access to the power of financial services, to help you achieve your dreams and positively change your life.

Absa vows to find creative means to deliver innovation, to make more possible and to shape a future of progress and economic activity to serve the greater good.

They believe in sustainable growth which benefits generations of their customers, workers and the communities they serve. This growth creates value for its stakeholders.

Fulfilling your needs and delivering solutions

ABSA cares about their customers and like to fulfil their customer's needs and ensure a memorable customer experience.

Being truly African, they deliver a unique Absa experience across the continent, creating better solutions. They engage actively with communities to enable them to realise their possibilities.

ABSA Services

With a regular income of at least R2,000 per month, you qualify for a personal loan of R350,000 with up to 7 years to repay.

Absa Personal Loans; Switch and Save

Need extra cash? With Absa, you’re sure to live your dreams and afford unexpected expenses. With numerous pluses to switching your personal loan, Switch and Save make this easy.

According to the 2021 Solidarity report, Absa offers the lowest banking fees in South Africa.

If you’re tired of costly loan repayments, by switching your personal loan to ABSA you're guaranteed the lowest interest rate and will start saving money at once.

Consolidate your debt with Absa

You can combine all your personal loans with a consolidation loan and pay your creditors in one payment. You can also access extra funds to use as you see fit.

If you’re not sure which personal loan product is right for you, ABSA offers a wide range of personal loans so you can choose the best product for your needs.

With ABSA personal loans you can access the credit needed to make ends meet or achieve your goals. You can get a short-term loan, repayable in 2-6 months.

To borrow a smaller amount you will need the following:

  • South African ID
  • Proof of residence ( no more than 3 months old)
  • You must earn a minimum of R1500 a month
  • An active ABSA account which reflects your income
  • To be at least 18 years old

You may already be pre-approved if you’re an existing customer. You can check this online by signing in to your online banking profile.

ABSA’s credit protection plan

This is obligatory for all personal loans. With this insurance plan you’re covered against the unexpected.

In the unfortunate case of death, or disability, or if you should get a terminal or serious illness, or lose your income, this plan will cover your debts.


ABSA – Personal Loan

  • Loan Type Personal Loans
  • Interest Rate from 13.75%
  • Loan Amount up to R350,000
  • Repayment 12 months to 84 months

Benefits of ABSA

  • Low-interest rates
  • Flexible repayment terms
  • Online loan application

Personal Loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This personal loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

How to Apply for an Absa personal loan

ABSA guarantees that if you get an ABSA personal loan and then get a competing offer that meets qualifying criteria, Absa will give you a better offer.

This is the ABSA Price Guarantee. The interest and instalments you'll pay will then be lower than originally stated on your first ABSA Loan Agreement.

Loans are available on these Absa digital platforms:

  • ABSA online
  • The ABSA banking app and
  • Cellphone banking

Seamless banking means that with digital banking you can have your bank at your fingertips, making payments, checking balances or applying for a loan at the click of a button.

No more need for time-wasting queues or the hassle of going into a branch, saving you money and time.

What you'll need to apply:

  • A South African ID book or card
  • Proof of residence not older than 3 months
  • Your last 3 months' payslips or bank statements.

For an ABSA personal loan over a year or more, you’ll have to earn at least R2,000 per month to qualify. You’ll need a bank account that receives your income and you must be at least 18 years old.

ABSA offers flexible loan amounts and repayments, easy online application, personal loans and general borrowing.

If you apply for a personal loan of up to R350,000, on the Mobile Banking App you can get instant payment into your ABSA transactional account.

You get more than you bargained for with ABSA with express loans, Switch and Save and instant loans, as all loans come with credit insurance.

Express Loans from ABSA explained

Express loans give you fast access to short-term loans, where you can pay them off quickly. This is an unsecured loan with a 6-month fixed repayment period.

Interest rates won’t change and it can help you build up a good credit rating. These are loans of between R1,500 and R8,000.

You’ll need an income of R1,500 or more, a South African ID, proof of address like a cellphone statement or rates bill, 3 months' bank statements or payslips and a transactional banking account which has been active for three months or more. You must be at least 18 years of age.

About instant loans from ABSA

Instant loans are designed to help in times when you urgently need cash and have no time to wait and are exclusive to ABSA. If you bank with them you can access a loan amount from R300 to R8,000 immediately.

Quick cash anytime on cellphone banking, ABSA Online or Absa ATM. No paperwork necessary- to be repaid in 35 days. Access to cash day or night. To qualify you must have an ABSA bank account, a good credit rating and earn at least R250 per month.

Switch and Save with ABSA

You’ll pay the lowest banking fees in South Africa if you change over to ABSA, and that’s a promise they have managed to keep!

How long will it take to get a loan?

Applying for an ABSA personal loan is easy and fast. Once approved, the money will be in your account in under ten minutes.

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ABSA is a trusted & reliable provider of personal 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

  • Cnr Commissioner &, Troye St Johannesburg Gauteng 2001 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 08:00 – 17:00
  • Sunday 08:00 – 17:00