If you need cash to pay off an unexpected bill or deal with a financial emergency, you can get an instant loan from Absa. This loan requires minimal paperwork and is easy to access from an ATM or online.
The Absa Loan App is a fast and secure mobile banking service that lets you perform all your financial transactions on your smartphone. You can pay bills, buy airtime and data bundles, and even transfer funds to your M-Pesa account — all from the Absa Banking App.
Short-term unsecured loan
Whether you want to improve your home, purchase a car, or take a vacation, an Absa Loan App can help. This short-term unsecured loan offers cash amounts ranging from R1 500 to R8 000. It has a repayment term of two to six months, and you can get this loan without providing collateral.
It’s available for both existing and new customers. You can apply online or payday loans for blacklisted no paperwork at an ATM. You can also use the Absa Loan App to pay back your loan anytime and from anywhere you have internet access.
In addition to these loan options, Absa Bank also provides business credit and prepaid cards that allow businesses to make and receive payments in nine currencies. These cards are designed to give businesses more flexibility, and they’re a great way to earn rewards.
If you’re self-employed, you can also apply for a personal loan from Absa. Applicants must provide their latest payslips. However, they must be sure to have a regular income that they can afford to pay back on time.
Debt consolidation
The Absa Loan App offers a debt consolidation facility that pools your smaller unsecured debts into one easy-to-manage monthly payment. This helps you avoid the hassle of making several payments, and it saves you money on interest.
Mr Desai also highlighted debt relief measures such as arrangement, debt consolidation, freezing of payments for an agreed period, suspending or stopping legal action under balance outstanding versus capital borrowed, and debt restructure which he said was offered when clients were unable to settle arrears in the short term. Rescheduling was also considered when a client had a temporary loss of income due to maternity leave, short time work, strikes or other events.
When Nedbank entered into a debt consolidation arrangement with a client, it would put everything under a single agreement, charging a lower interest rate and capitalising the amount. In addition, it could also write off some of the interest and then have the same capital amount as originally.
Flexi reserve
The flexi reserve offered by Absa Loan App is a great way to save money and pay off your home loan in a shorter period. It lets you withdraw extra funds to repay your loan sooner or use them to reduce your interest payments.
Portia Letlape, Head of Product at Absa Home Loans, explains how it works.
You can make extra payments to your home loan account, either monthly or a lump sum. This will help to lower the interest rate and the principal debt owed on your loan.
The flexi reserve is available free with all your Absa Home Loans, and it’s easy to set up. Just fill in the application form and a home loan consultant will contact you.
Online application
If you are in South Africa and have a smartphone, you can apply for an Absa loan app. This allows you to access a number of financial services including personal loans, funeral cover and Express loans.
You can also access your account and pay off debts from the Absa loan app. This makes it easier to manage your finances.
For example, if you have several debts from various credit institutions and want to consolidate them into one monthly payment, the Absa loan app will help you. It will even try to get you a better rate than what you currently have.
In addition to the online application, you can also speak with a consultant to learn more about how to get a loan. They will be able to answer any questions you may have.