Borrowing

Revolving Credit Facility

If you have an Absa transactional account and are earning R8 000 or more a month, a Revolving Credit facility will allow you to access funds whenever you need it and comes with a Price Guarantee offer.

If you do not have an Absa transactional account, apply for a Personal Loan.

A Revolving Credit Facility is an on-going or ‘open’ loan facility for an agreed amount. Provided a minimum of 15% of the approved loan has been repaid, you can re-borrow back to the approved limit without affecting your monthly repayments. This means that you can access the available funds whenever you need them, without having to reapply each time.

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Not for you? Find the right loan.

A Revolving Credit Facility could be the right choice if you:

  • Would like on-going access to a facility of between R15 000 – R150 000 (subject to a maximum of three times your gross monthly salary)
  • Would like fixed monthly repayments that do not fluctuate with changes in the prime rate
  • Are a South African citizen or permanent resident, 18 years or older, with a valid identity document
  • Earn a minimum monthly income of R8 000
What you get

  • On-going access to a loan between R15 000 and R150 000 (subject to a maximum of three times your gross monthly salary).
  • Fixed monthly instalments calculated as a portion of the approved loan amount as well as the monthly service fees, the interest charged on loan and, if applicable, the monthly fee for the Credit Protection Plan
  • The ability to pay your loan off faster, as additional deposits are accepted as capital reductions
  • An affordable Credit Protection Plan
  • Interest rates based on your individual risk profile
  • A loan with a roll-over ability, so you can take up another loan if the first loan is completely repaid
 
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