1. Standard Personal Loan

• Borrow from R1,500 to R350,000
• Pay back over 12 to 84 months (up to 7 years)
• Fixed monthly payments
• Interest rates from 13.75% per year
• Good for larger expenses

2. Express Loan

• Quick cash from R1,500 to R8,000
• Pay back in 1 to 6 months
• Fast approval for small amounts
• Good for emergencies

3. Instant Loan

• Very fast loans from R350 to R8,000
• Get money from an ATM
• Pay back in up to 35 days
• Only for existing Absa customers
• Available through Absa digital banking

Loan Amount: R50,000

Interest Rate: 18% per year

Repayment Period: 36 months (3 years)

Monthly Payment: About R2,113

Total You Pay Back: R76,068

This includes all fees and interest.

Remember: Longer repayment periods mean lower monthly payments. But you pay more interest overall. A 7-year loan costs much more than a 3-year loan.

Option 1: Apply Online

1. Go to www.absa.co.za
2. Click on “Personal Loans” under “Loans”
3. Click “Apply Now”
4. Fill in the online application form
5. Upload your documents
6. Wait for approval (usually 1-3 days)

Best for: Existing Absa customers who have all documents ready.

Option 2: Visit a Branch

1. Find your nearest Absa branch
2. Bring all required documents
3. Speak to a consultant
4. Complete the application with help
5. Get answers to your questions

Best for: People who want face-to-face help or have questions.

Option 3: Call Absa

Phone: 0860 100 321

Available: Monday to Friday, 8am to 5pm

Best for: Quick questions or to start the process over the phone.

• Existing Absa customers: Often same day
• New customers: 1 to 3 working days
• Money in your account: Usually within 24 hours after approval

For Everyone:

• Your South African ID or Smart ID card (certified copy)
• Proof of residence (not older than 3 months):
  • Municipal account
  • Rates bill
  • Lease agreement
• Proof of income (latest 3 months):
  • Payslips if you are employed
  • Bank statements showing salary deposits
• Bank statements (latest 3 months)

If You Are Self-Employed:

• Business registration documents
• Letter from your accountant
• Bank statements showing business income
• Tax returns or IRP5

If You Receive a Pension:

• Pension statement
• Retirement annuity statement
• Bank statements showing pension payments

💡 Tip: Make certified copies at a police station or post office. Keep the originals safe. Absa may need to see the originals later.

The Number One Rule:

NEVER PAY MONEY UPFRONT TO GET A LOAN

Real banks NEVER ask for money before giving you a loan. Scammers always ask for upfront fees.

1. Upfront Fee Scam

Scammers say: “Pay R500 now to get your R20,000 loan approved.”

Truth: After you pay, they disappear. You never get the loan.

2. Fake SMS and Email

Scammers send messages pretending to be from Absa. They say you are pre-approved for a loan.

Truth: Real Absa messages never ask you to click links or call strange numbers.

3. Unregistered Lenders

Some companies pretend to be registered with the NCR. They offer quick loans with no credit checks.

Truth: All legal lenders MUST be registered with NCR. Check their registration at www.ncr.org.za

4. Voice Deepfake Scams (NEW in 2025)

Scammers use AI to copy voices. They call pretending to be Absa staff.

Truth: Absa will NEVER ask for your PIN, password, or OTP over the phone.

5. Loan Sharks (Mashonisas)

Illegal money lenders charge very high interest. Some keep your ID until you pay.

Truth: This is illegal. Report them to the police and NCR.

• Only apply through www.absa.co.za or call 0860 100 321
• Check if lender is NCR registered at www.ncr.org.za
• Never share your PIN, OTP, or password with anyone
• Do not click on links in SMS or emails about loans
• Never pay money before getting a loan
• If it sounds too good to be true, it probably is
• Do not give your ID document to anyone

Report Scams Immediately:

• SABRIC Hotline: 083 123 7226
• South African Police: 10111 or your local station
• National Credit Regulator: 0860 627 627
• Absa Fraud Line: 0800 111 155

💡 Smart Tip: Always compare at least 3 banks before choosing. Your interest rate depends on your credit score. What you pay might be different from these starting rates.

Right to Information

• You must get all loan details in writing
• All fees and costs must be clearly shown
• Information must be in simple language
• You can ask for documents in your home language

Right to Cancel

• You can cancel within 5 business days
• You do not need to give a reason
• Just return the money you received
• You only pay interest for days you had the money

Right to Affordable Credit

• Banks must check if you can afford the loan
• They cannot give you credit you cannot afford
• This is called “reckless lending”
• If they do, report them to the NCR

Right to Complain

• You can complain if you are treated unfairly
• First, complain to Absa directly
• If not solved, contact the National Financial Ombud
• This service is free

Right to Debt Counselling

• If you cannot pay your debts, get help
• Contact a registered debt counsellor
• They can help reduce your monthly payments
• This is legal and protected by law

Where to Get Help:

Before You Apply:

• Check your credit score (get a free report from TransUnion or Experian)
• Fix any mistakes on your credit report
• Pay off small debts if you can
• Calculate if you can afford the monthly payment
• Save 3 months of bank statements

During Your Application:

• Give honest and complete information
• Do not lie about your income
• Make sure all documents are current
• Ask questions if you do not understand
• Read everything before you sign

To Get a Better Rate:

• Improve your credit score first if it is low
• Apply for a shorter repayment period if you can afford it
• Existing Absa customers often get better rates
• Ask about promotions or special offers
• Compare rates from multiple banks

Step 1: Contact Absa Right Away

Call: 0860 100 321

Explain your situation. They may be able to:

• Extend your payment terms
• Arrange a payment holiday
• Reduce your monthly payment temporarily

Step 2: Consider Debt Counselling

If you have multiple debts, see a registered debt counsellor.

They can:

• Negotiate with all your lenders
• Reduce your monthly payments
• Protect you from legal action
• Help you pay off debt over time

Find a registered counsellor at www.ncr.org.za

What NOT to Do:

• Do not ignore letters or calls from the bank
• Do not take out another loan to pay this one
• Do not borrow from loan sharks
• Do not just stop paying without telling the bank

Remember: Banks want you to pay. They will often work with you to find a solution. The key is to communicate early.

Official Absa Contact:

Website: www.absa.co.za

Phone: 0860 100 321

Fraud Line: 0800 111 155