Rating based on 31 reviews

Student Loans offered by Absa Bank

Updated

  • Low-interest starting from 7.5%
  • Student Loans up to R250,000
  • Repayment up to 72 months

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Absa Bank homepage

Author Absa Bank. Screenshot of Absa Bank website. [Accessed April 30, 2018]

About Absa Bank

ABSA Bank is one of South Africa's largest, most dynamic and advanced banking institution.

We are passionate about helping families achieve the financial freedom that they deserve without having to sacrifice their living standard to do it.

Products and services as diverse as our customers

As an ABSA client you will be able to access a range of unique and innovative products and services from home loans that cater to your income and future goals to student loans to help you further your studies and brighten your future earning and working prospects. At ABSA you have the world at your fingertips.

What Absa Bank can offer you

ABSA Bank is a company that offer a diverse range of banking services and lending products such as home loans, vehicle finance, personal loans, student loans and credit cards.

We offer insurance products, Forex and a range of add-on services for our many products.

Understanding our student loans

ABSA's student loans will pay for your studies, books, accommodation and living expenses and are available at the prime interest rate - which means you get a low rate that helps you save money.

In fact, ABSA is so certain our student loan rates are unbeatable we'll beat any rate you can get elsewhere if it's lower than ours.

Absa Bank Product Details

  • Loan Type Student Loans
  • Interest Rate from 7.5%
  • Loan Amount up to R250,000
  • Repayment 160 days to 72 months

Together we will build a brighter future for you, apply for a student loan today

Any full time or part-time student can apply for a student loan with ABSA. Every year you must reapply for another student loan until you have completed your course.

You will be repaying either the capital and interest or interest only for a period of 12 months depending on what your particular needs are.

Applying with a sponsor

The student or the sponsor must be earning a minimum of R3,000 per month in order to be eligible to apply for a loan with ABSA.

You must also have been accepted by the university to be able to apply and prove this in the form of an acceptance letter or proof of registration, proof of income, valid ID's of student and sponsor as well as detailed information on the course of the course.

Talk to us

We are available to you if you need to discuss your options or to get more clarity on what our student loans entail. Our friendly ABSA Bank customer consultants are easily accessible and waiting to answer any questions you might have. You can get in touch over the phone, email or face-to-face at one of our local branches near you, or you can simply go onto our website and send a request that we call you back, which we will as soon as possible.

What will you need to apply?

You will need a valid South African ID document or smart card, your proof of residence, your payslips or bank statements of the last 3 months, your proof of study, your proof of how much your course will cost you for the year (for example, invoices or statements) and if you're not applying for the first year of study, we'll also need to see proof that you have been permitted to continue with your studies  in the form of your previous years academic results.

How is a loan awarded?

We assess every application on an individual basis. Therefore, whether or not we'll award you the student loan is dependent on your unique risk and affordability.

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Absa Bank is a trusted & reliable provider of student loans

In our review, Absa Bank adheres to the compliance criteria in accordance with NCA regulations, where the granting the loan will not cause financial distress to the consumer.

Absa Bank is a registered credit provider in South Africa: NCRCP7

Customer Reviews & Testimonials

September 2018

Thanks to Nedbank, I'm going to be able to become a lawyer. Thank you for making it possible.

Ryan D
— Polokwane —

October 2018

After requesting a call back I only had to wait 30 minutes for a customer consultant to contact me. I like how my time was appreciated and how fast the service was

Anele B
— East London —

November 2018

Unlike other banks, ABSA offered me a loan that was very affordable and I was able to pay it back in manageable instalments without trouble because they listened and gave me a loan that complimen...

Nina M
— Bloemfontein —

January 2019

Applying was very simple to get through which I thought was really nice.

Cherise N
— Durban —

December 2018

I'm so grateful for organisations like Absa. Because of you, my niece is going to be able to study next year.”

Naledi N
— Kimberley —

Absa Bank Contact Details

Physical Address

  • Kenilworth Centre, 1 Doncaster Rd Cape Town Kenilworth 7708 South Africa
  • Get Directions

Opening Hours

  • Monday 08:00 – 15:30
  • Tuesday 08:00 – 15:30
  • Wednesday 08:00 – 15:30
  • Thursday 08:00 – 15:30
  • Friday 08:00 – 15:30
  • Saturday 08:00 – 12:30
  • Sunday Closed –