Absa Express Loans:
With this solution, you get quick money which you can use for unexpected emergencies. You get access to instant cash and you are then responsible for ensuring that you repay it by your next payday. This is a short term solution, so the most you can get is up to R8000 with the lowest amount being R1500. In addition, there is also the option to extend the repayment period to 3 or 6 months. To qualify for this loan you need to earn R1500 or more per month.
These are similar to Express Loans, but they give you the option of borrowing much more money. This loan facility provides you with finance from R3000 to R150 000. You also have longer repayment periods – 12 to 84 months. There are no penalties for early repayment, so as soon as you have the funds to settle the loan, the better.
Absa Revolving Loans:
These loans are available to individuals earning salaries of more than R8000 a month. They are ideal solutions for when you need constant access to cash. You have the benefit of not having to re-apply for the loan and you are charged a fixed interest rate, giving you a consistent instalment to pay that remains unaffected by interest rate fluctuations.
To be eligible for this facility you need to earn at least R3000 per month. This solution is ideal for when you don’t have funds in your account. You are still able to borrow cash whenever you want. (This can be arranged with Absa). Essentially, you will be able to borrow based on a pre-agreed limit. You can use this money for emergencies such as home repairs, paying an unexpected medical bill or paying for accounts. Interest is charged daily, so it’s better to repay this loan as soon as possible.