Absa Revolving Loan – If you need access to funds without having to re-apply the Absa revolving loan could be the solution for you. A revolving credit facility is an on-going loan facility for an agreed amount.
The advantage of having the Absa revolving loan facility is that you have access to funds any time you need them without having to re-apply.
When you apply you have a choice of between R15,000 and R150,000 (subject to a maximum of three times your gross monthly salary).
To re-borrow finance you need to have paid back 15% of the approved loan. When you re-borrow funds you can only apply back to the approved limit and the benefit is that you can do so without affecting your monthly repayments.
To qualify for the Absa revolving loan you need to have an active Absa transactional account and you should be earning R8,000 or more a month.
Life is unpredictable and we never know when we will need emergency funds. If you are an existing Absa client why not apply for the Absa revolving loan and use it when that rainy day comes.
Application can be done online or you can call Absa on 0860 100 372 or visit your nearest branch.
Benefits of the Absa Revolving Loan
- On-going access to funds between R15,000 and R150,000
- Fixed Monthly installments
- Credit Protection plan to settle outstanding balance in the event of disability or death
- Interest rates based on your individual risk profile
- Additional deposits are accepted as capital reductions which helps to pay your loan faster
Requirements To Apply For the Absa Revolving Loan
- You must be 18 years or older
- A valid South African ID
- Proof of residence
- A regular monthly income of R8 000 or more
- An Absa account into which your salary is paid
Absa Revolving Loan Contact Details
Telephone: 0860 100 372