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  • Short-term Loans up to R8,000
  • Low-interest starting from 3%
  • Affordable Repayment Terms

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

About ABSA

ABSA Group Limited previously known as Barclays Africa Group Limited was founded in 1991 and is a financial service provider offering a full scope of services to individuals. 

ABSA is part of the pan-African group, and they intend to continue being a well-respected brand.

They’ve made it their commitment to uncovering custom-made solutions that are unique enough to tackle local challenges. They place special emphasis on generating real value for their stakeholders.

To date, they offer an array of products and services that reach a global market. Listed on the Johannesburg Stock Exchange (JSE), Absa holds the title of being one of Africa’s biggest financial services groups, existing in 15 countries.

Absa Bank, a subsidiary of the Absa Group, is a renowned financial institution in South Africa that offers a wide range of financial solutions. These include retail, business, wealth management, corporate, and investment services.

The bank's vision is to create sustainable shared value and become an essential part of its customers' and clients' life journeys, empowering them to accomplish more and recommend the bank to others.

Absa takes pride in its African roots and seeks inspiration from the diverse individuals it serves, embodying qualities of courage, passion, and preparedness, with a strong desire to make Africa proud.

What is Absa’s purpose?

Absa’s main purpose is to show you that life is filled with endless possibilities. They believe that you should be provided transformative power, which can be accessed through the many financial services they offer.

These financial services can assist you to prepare, imagine, and give you the drive to change your life for good. Absa looks to continuously create innovative concepts and technologies that can revolutionise the future.

They want to shape a world that strongly believes in financial activities and progress that's beneficial for all. Absa’s vision is rooted in manageable growth. They aim to build a generational advantage for you, their communities, and their staff members globally.

Absa’s Values

  • Absa operates through peak performance, to obtain a successful outcome while taking full accountability for their results – They test new methods and act fast when making important decisions. They learn from their mistakes, accept failures, and take risks while changing the course of direction if needed to be.
  • Their biggest strength comes from their employees – Absa celebrates diversity, and through different perspectives, an advanced future can be created. The powerful collaborative energy of their employees is a major contributor to their growth.
  • Customer-focused – They have an inquisitive mind, which always seeks to meet your needs.
  • They surpass your expectations by going the extra mile.
  • They have an African imprint – They’re looking to shape the African continent through their innovative Absa experience, and they’re constantly interacting with their communities to bring solutions and possibilities.

ABSA Services

The best solution available when you’re cash-strapped is Absa’s express loan.

An express loan is a short-term loan with a fixed repayment plan which can be taken up to 6 months. If you’re employed and earning a monthly salary of between R1,500 and R8,000, you could be eligible for an Absa online loan.

Why should you opt for an express loan?

  • Secure a clean credit record – Applying for an express loan with Absa can have you enjoy a short-term loan while building a clean credit record. These loans offer affordable monthly instalments.
  • Useful ways to budget – With Absa’s fixed interest rates, your instalment stays the same, despite constant market fluctuations. An express loan can assist you in emergencies or unforeseen circumstances.

Absa online loan options

Express Loan

This is a short-term and unsecured solution that offers swift cash access. This loan is designed for individuals who require immediate funds and provides a repayment period of up to six months.

Borrowers with a steady monthly income have the opportunity to obtain a loan amount ranging from R1,500 to R8,000.

One of the key advantages is the convenience of easy repayments through a debit order, which facilitates the establishment of a favourable credit history. Additionally, the Express Loan features a fixed interest rate, ensuring that the monthly instalments remain consistent even if interest rates fluctuate.

Whether it's for unexpected emergencies or a quick weekend trip, the Express Loan caters to short-term financial needs. Application for the loan can be made online or at any Absa branch by submitting the required documentation.

Instant Loan

Absa provides an exclusive Instant Loan option to its customers, granting immediate access to cash ranging from R350 to R8,000.

This loan facility offers convenient transactions through multiple channels, including Absa ATMs, cellphone banking, and Absa Online, without the need for extensive paperwork.

Repayment occurs automatically on the next salary date within a 35-day period. The interest rate and initiation fee vary based on the customer's profile and the number of Instant loans obtained in a year. 

How does it work?

  • The minimum repayment term is one month, while the maximum is six months.
  • There’s a 5 % maximum monthly interest rate (APR) for first-time loan applicants, or you can opt for 3% if you’ve taken a loan within the same year. This includes initiation and service fees.
  • An Absa online loan of R5,000 with a 6-month repayment term and interest rate of 5% will see you paying R1,200 monthly. This instalment is subject to terms and conditions.
  • When applying for an express loan with Absa, credit protection is required. Alternatively, you can opt for a credit life plan for the duration of your loan term. 

ABSA – Short-term Loan

  • Loan Type Short-term Loans
  • Interest Rate 35% p/a
  • Loan Amount up to R8,000

Benefits of ABSA

  • Competitive interest rates
  • Best loan deals for your needs
  • Flexible repayment terms

Short-term Loan calculator

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

An ABSA online loan can solve any cash emergency

ABSA has two express loan application options available. You can either apply online or you can go to your nearest Absa branch.

If you’re time tied and need a paperless way to gain fast access to cash, their online loan application is the best option. However, if you’re a person who needs more details about the overall application, head to a branch closest to you for help.

What do you need to apply for an Absa online loan?

  1. South African ID document
  2. You should be 18 years and older
  3. Proof of address such as an electricity bill or any financial statement in your name.
  4. Latest three months' bank statement/a payslip reflecting a salary of at least R1,500.
  5. A banking account with Absa or any other financial institution, showing an active status for three months or more.

Eligibility for the Instant Loan 

Eligibility requirements include maintaining a good credit record, possessing a regular monthly income of R3,000 or more, and having an Absa bank account where the salary is deposited. The application process is available through various channels, and upon approval, the funds are instantly deposited into the transactional account. Interested customers can conveniently apply online, at an Absa ATM, or via cellphone banking in the comfort of your own home or office. Its dedicated team ensures a fast turnaround time, allowing borrowers to receive the funds they need in a timely manner.

The Express Loan: Requirements and application

To be eligible for the Express Loan, applicants must meet certain criteria. They should have a valid South African ID document or Smart ID Card, be 18 years of age or older, and provide proof of residential address such as a municipal or rates bill and cellphone statement.

Additionally, applicants must demonstrate a regular monthly income of at least R1,500, as evidenced by their last three months' payslips or bank statements. They must also have an active transactional account with Absa or any other bank for a minimum of three months. The application process can be initiated online or by visiting any Absa branch.

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ABSA is a trusted & reliable provider of short-term 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

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