Exclusive to Absa customers, our Express Loan is the perfect solution if you need money and want to pay it back quickly! It’s a short term loan from R1 500 up to R8 000, with fixed repayment terms of up to 6 months.
New to Absa? Apply for an Express Loan at one of our branches or via the call centre. You can only apply online for a Personal loan from R3 000
Why an Express Loan?
Get quick and easy access to an Express Loan today
- A valid South African ID document or Smart ID Card
- You must be 18 years or older
- Proof of residential address such as a municipal or rates bill and cellphone statement
- Your last three months’ payslips or bank statements showing a minimum monthly income of R1 500
- A transactional account with Absa or any other bank, active for three months or more
- Minimum repayment term of one month and maximum of six months.
- Maximum monthly interest rate (APR): 5% for first time loan taken or 3% if the loan is taken in the same calendar year. Services fees and initiation fees apply.
- The monthly instalment on a R5 000 loan over six months at 5% per month would be R1 200. Terms and conditions apply.
- Credit protection is required when you apply for an Absa Express Loan. However, you have the option to cancel and replace it with your own existing credit life plan provided it remains in effect for the duration of the loan agreement.