How long does Absa take to approve a personal loan?
Generally, Absa approves a loan application within 24 to 48 hours if the submitted application has no mistakes and the applicant’s credit history is good. Usually, the initial decision on a loan application is made on the first day and the bank requires another three to four business days for evaluation and scrutiny.
Who qualifies for a loan at Absa bank?
Earn a regular monthly income of at least R2 000 per month. Have a bank account into which your income is paid. Be 18 years or older.
What is the interest rate on Absa loan?
Absa Direct Personal Loan
The average Annual Percentage Rate (APR) for Absa Direct Loan is the Ghana Reference Rate (GRR) plus a range of -3% to 20%. The exact APR will be made available to you when you engage us at any of our branches to request for a loan..
How do I check if I qualify for a loan?
1. Credit Score and History. An applicant’s credit score is one of the most important factors a lender considers when evaluating a loan application. Credit scores range from 300 to 850 and are based on factors like payment history, amount of outstanding debt and length of credit history.
absa personal loans
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