ABSA Study Loan

If you want to go and study, chances are you’ll need a student loan. This means you’ll need to apply for a loan at a bank so that you can pay for your studies. The student loan is a great idea if you need money to fund your studies, but you need to make sure that you will be able to repay your student loan, either while you are studying or when you start working after your studies have been completed. 

Getting a student loan from a bank is the best option as they provide the best interest rates and will be able to give you a loan based on your unique financial needs.

ABSA Student Loans

You can apply for an ABSA study loan that will allow you to pay for your tuition, books and accommodation. There are many benefits to a study loan from ABSA:

• You’ll pay Prime +1.8% on your loan
• You can get a 15% discount on study equipment when they apply for a study loan
• The study loan forms part of the Student Package, which includes a student credit card and a cheque account
• Access to a Credit Protection Plan which covers the outstanding amount of the study loan in events of disability, retrenchment, dread disease or loss of life

Qualifying criteria

• Customers need to earn a monthly income of minimum R3000 per month
• Customers are approved based on their affordability and risk
• Proof of income from the person undertaking the study loan is required
• Proof of study in the form of a final letter of acceptance or proof of registration from the institution and proof of course costs for the year of study is required

There are many benefits to getting an ABSA study loan and this includes getting a 15% discount on study equipment as well as getting an optional credit card and cheque account linked your study loan.