Financial institutions around the world and South Africa in particular are well positioned to provide life changing credit. Lending and micro finance institutions have over the years designed products and services which cater for individuals, families and even groups. Micro finance institutions also work with another approach that uses self help groups formed by government and non governmental organisations within each community. One bank that has positioned itself to provide life changing credit is Absa.
The Barclays Africa Group Limited, also known as Barclays Africa or the Group, formerly Absa group limited is a South African subsidiary of Barclays. Having been established in 1991, this financial concern is a reliable service provider offering personal and business banking, credit cards, corporate and investment banking, wealth and investment management as well as bancassurance. One product offering from Absa which is thriving on the market are the personal loans.
Personal loans from Absa have been designed to assist those who are seeking a lifestyle boost or have an unexpected expense to deal with. Absa personal loans are flexible as customers are allowed to borrow from R3,000 and up to a maximum amount of R350,000 and affordable repayment periods run from 12 to 72 months.
Some of the extra benefits accrued from this loan include immediate access to your funds after approval, competitive interest rates, flexible repayment terms, the ability to pay off your loan faster since it allows for extra payments which reduce the capital amount of the loan, easy approval if you require additional funds, there is also affordable credit protection plan to settle the outstanding balance if you die, become permanently disabled or get one of the dread diseases. A monthly amount equal to your installment amount will be paid for a limited period if you are retrenched or temporarily disabled.