Personal secured loan
With an Absa Secured Loan you can fulfil your long-term plans. We offer repayment options of up to 30 years at competitive interest rates. What's more, we give you the option to take out credit life insurance for your and your loved ones' peace of mind.
What you can expect
- Competitive interest rates
- A simple application process with no early repayment fees
- credit life insurance for your and your dependants’ peace of mind
- Finance is available from a minimum of Rs500,000.
- The loan amount you qualify for will vary according to your salary and other debt that you might already have.
- Flexible repayment options of up to 30 years apply.
- If you already have a loan with another financial institution, we can buy it back.
- National identity document, passport or driving licence
- Utility bill not older than 3 months
- Last 3 months’ bank account statements
- Your latest salary slip (new customers) or a copy of the latest salary slip (fixed income only)
- 12 latest salary slips and 12 months' latest bank statements (if you earn regular overtime/commissions)
- Letter of outstanding balance from other banks/financial institutions (where applicable)
- Work contract if employed less than a year
All documents are required in their original form. The list of required documents mentioned above is indicative only. The bank may at any time request additional documents or information to process your application(s).