All you need to know about Absa Student Loans
Absa bank is one of the financial institutions at the forefront of the banking sector in South Africa. The bank, which now forms part of Barclays, is one of the big four banks in the country.
Offering a range of products and services, including transactional banking, wealth and asset management, as well as credit facilities among others, Absa strives to provide South African consumers with quality financial services.
For individuals looking to further their education, it may be worthwhile to consider Absa Student Loans.
The bank offers financial assistance to students through the Absa Student Loans.
Who qualifies for Absa Student Loans?
- Individuals earning a minimum salary of R3000 per month
- Individuals who are above the age of 18 years
- Individuals who are employed, who can comfortably afford to make repayments
- Loans that are granted are based on individual affordability and risk profile
What do you need to apply for this loan?
Proof of income
You’ll need to produce your latest payslip in order to show that you will be able to afford repayments.
Proof of acceptance
Absa will require your letter of acceptance, proving that you have been accepted into the tertiary institution.
Proof of course costs
You will need to provide Absa with a quote detailing the exact costs of your studies.
Valid proof of identity
You will have to produce your valid South African Identity document.
What exactly does tis loan cover?
- Textbooks
- Accommodation
- Equipment fees
What are the benefits of applying for Absa Student Loans?
- The loans are offered at competitive interest rates
- Approved students get a 15% discount on study equipment
- The loan forms part of the Student Package, which includes a student credit card and a cheque account
- Approved students get access to a Credit Protection Plan
For more information about Absa Student Loans, visit their website: www.absa.co.za
