Absa Bank’s personal loans are versatile. They offer individuals access to funds for various purposes. These loans come with very good interest rates and flexible repayment terms.
Absa’s personal loans are designed to help you manage your finances effectively, whether you need cash for home improvements, education, medical bills, or any other personal expenses. You can access up to GHS500,000 with their Absa Direct personal loan or scheme loan products.
1. Absa Direct Personal Loan
Absa offers a flexible Direct Personal Loan that allows you to borrow up to GHS500,000 without the need for collateral. This unsecured loan provides a convenient option for those seeking financial support, with the flexibility to repay over a period of 6 to 84 months.
In addition, Absa provides affordable loan insurance to protect you in case of unfortunate circumstances such as death, disability, or retrenchment, covering up to 6 months of repayments.
Repayment is made simple through automatic deductions from your salary account with Absa, ensuring convenience and peace of mind.
Eligibility Requirements for Absa Direct Personal Loan
a. Must hold an Absa account.
b. The account must have received at least one month’s salary credit.
c. Must have been employed with your current employer for a minimum of 6 months.
d. Must be a permanent employee or on a fixed-term contract.
e. Applicants must be at least 18 years old.
Must be a salaried employee.
f. You should have been an Absa account holder for at least 6 months.
2. Absa Scheme Loan
The Absa Scheme Loan also allows you to borrow up to GHS500,000 without requiring collateral making it an excellent choice for individuals who need an unsecured loan. With flexible repayment options ranging from 6 to 84 months.
This loan is designed to accommodate your financial situation. Similar to the Direct Personal Loan, Absa offers loan insurance that covers up to 6 months of repayments in case of death, disability, or retrenchment.
Repayment is handled through your payroll, even if your salary is deposited with a different bank, ensuring that managing your loan is hassle-free.
Eligibility Requirements for Absa Scheme Loan
a. Available to both Absa and non-Absa account holders.
b. You must have been employed with your current employer for at least 6 months.
c. You need to be a permanent staff member or on a fixed-term contract.
d. Must be a salaried employee.
e. Your employer must have signed an agreement with Absa Bank to offer the Scheme Loan.
Documents Required for Both Loans
a. Proof of identity by providing Ghana card
b. A scanned copy of your signature, clearly visible, signed on white paper, and saved as a JPG or PNG file.
You can make further enquiries by calling Absa’ customer service representative on +233 (30) 242 9150 (network charges apply)
0800 222 333 (MTN and Vodafone or send an email to customerexperience.gh@absa.africa
