Content articles
JOHANNESBURG (Reuters) – South African lender Absa (ABGJ.J), opens new tab said its bad myloan contact number loans will remain above target ranges this year, due to elevated credit impairments in its retail and secured lending portfolios. The company’s credit losses are exacerbated by high inflation and power blackouts. Our loan calculator shows an indicative monthly instalment, and is provided for illustration purposes only.
Personalised interest rates
Unlike most large banks and NBFCs, absa personal loan rates are not pre-decided; your interest rate would depend on factors such as your credit profile, profession and employer among other things. In addition, you can also save further on the cost of your loans by choosing to have your repayment deducted from your salary. We offer competitive interest rates for all our loan products.
The loan calculator and the calculations displayed are for illustration purposes only and are subject to change without notice. Absa Bank does not guarantee that you will be approved for the loan product or the terms and conditions shown herein and is not liable for any reliance on the results of this calculator.
Rates* include a one-off initiation fee, monthly service fees and credit life insurance which is calculated as a percentage of the principal debt at inception.
Flexible repayment options
Whether it’s that burst geyser or the upcoming school trip, personal lending is perfect for any moderate to large expenses that need funding. With a flexible repayment term and the Absa Price Guarantee, you can be sure that you are paying the lowest competitive interest rate. It’s important to remember though, that you should only ever borrow funds when you can afford it and live within your means. You are required by law to complete a full affordability assessment at the time of applying for any loan products so be honest about your current financial situation and budget.
Please note that the instalment amount shown includes interest, initiation fees and service fees (calculated as a portion of the principal debt at inception). This calculator is provided for illustration purposes only. It does not guarantee that you will be approved for a product and is not an estimate of the monthly instalment you will pay.
No hidden costs
Our loan calculator is a tool to help you estimate your monthly instalments and terms. The instalment amounts shown are for illustration and calculation purposes only. The actual instalment amount payable may differ depending on your specific financial circumstances and Absa’s credit assessment criteria. Absa does not warrant the accuracy, completeness or adequacy of any information or calculation provided and shall not be liable for any loss or damage incurred by reliance on this tool.
Getting started
We can assess your application within 24 hours – all you need to do is fill out the form below. Our team will then call you to get all the details about your unique situation and offer a personalised interest rate based on your credit profile. You can also use our online personal loan calculator to estimate your monthly instalment. The instalment amount shown is inclusive of interest, initiation fees and service fees and credit life insurance (calculated as a portion of the principal debt at inception). Terms and conditions apply.
JOHANNESBURG, March 11 (Reuters) – South Africa’s Absa Group (ABGJ.J), opens new tab said its first half credit losses would be above target ranges, as inflationary pressures, power outages and logistical bottlenecks weigh on its most sensitive retail and small business clients’ spending. Those issues are also making it harder for Absa and its rivals to pass on higher interest rates to consumers.
Please note: The loan calculator is intended for illustration purposes and does not guarantee approval of a loan application or represent the terms of a loan agreement. Absa Bank reserves the right to change any of its lending criteria and fees at any time. The monthly instalment shown includes interest, initiation fees, service charges and credit life insurance calculated as a percentage of the principal debt at inception.
Absa personal loan is now the cheapest in Kenya, breaking ranks with the bigger banks that have continued to issue relatively expensive credit facilities. The bank has lowered the interest rate charged to customers and the monthly instalment has also been cut. A customer taking a one-year, Sh1 million personal unsecured loan will now pay a total credit cost of Sh71,807.
JOHANNESBURG (Reuters) – South African lender Absa Group (ABGJ.J), opens new tab said its credit loss ratio will likely remain above target in 2024 due to elevated bad loans, as higher inflation, high interest rates and power blackouts take a toll on retail lending portfolios. The lender’s credit loss ratio jumped to 118 basis points in 2022 from 92 bps a year earlier.
