When you need money and want to pay it back quickly, our Express loan is the perfect solution for you. It’s an unsecured short-term loan with a fixed repayment term of up to six months.
If you earn a regular monthly income, you can get a loan amount ranging between R1 500 and R8 000.
Why an Express loan?
Everything you need with an Express Loan
- 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 two months 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.