This article will look at all the Absa loans one can apply for from Absa Bank.
Formerly known as Barclays Bank Kenya, Absa Kenya is a subsidiary of ABSA Group Limited, an African financial services company. Furthermore, ABSA Group bank is a South African stock exchange-listed company operating in 12 African nations.
It’s worth emphasizing that ABSA Bank Kenya is dedicated to providing local, one-of-a-kind answers to our one-of-a-kind situation. As a result, obtaining a loan from ABSA Bank Kenya is one of the finest ways to achieve financial independence.
We will review the top ABSA bank Kenya loans in this post.
Why acquire an Absa loan from Absa Kenya?
- ABSA Bank Kenya aims to tailor each customer’s loan cost based on their financial situation and credit score. As a result, the higher your credit score, the lower your loan may be.
- You can obtain your loan right immediately if you apply for it using the Timiza App.
- A top-up option is available if you want more cash and already have an ABSA bank loan.
- You can opt to pay off your loan early if the conditions allow you without incurring expensive fees.
List of Absa Kenya Loans
It offers a variety of loans as part of ABSA Bank Kenya’s creative problem-solving approach. These loans are classified according to whether you desire a personal loan or a house mortgage.
Absa Personal Loans
Customers of ABSA Bank Kenya can choose between two forms of personal loans. There are two types of personal loans: Absa Kenya unsecured and Absa Kenya secured loans.
Non-checkoff unsecured loan
Make an application for this loan and open up a world of possibilities for yourself.
One can obtain a loan of up to KES 6,000,000 with a payback period of 12 to 72 months.
To be eligible for these loans, you must meet the following criteria:
- Contract employees, self-employed persons, and even employed individuals are eligible for this loan.
- You must create an ABSA bank account and provide a six-month bank statement and the most recent payslip.
- There is no need for security, so come as you are.
Timiza Loan
One can also obtain ABSA bank Kenya loans without visiting the bank.
To get a loan from Timiza, you have to download the app from the Google Play store, register, and then request a loan.
The best part of getting an unsecured loan with Timiza is that it can be less expensive.
Absa Check off Loans (Unsecured)
ABSA Bank Kenya creates a Memorandum of Understanding with your company, allowing it to issue loans to its employees while collecting payments straight from their paychecks.
What does this loan offer?
- Simple approval procedure, which results in easy access to borrowed money of up to KES 6 million
- Affordable insurance during your credit life
- The payback duration is between 12 and 72 months, and you won’t have to worry about making payments because they’ll be collected immediately from your salary.
Absa Kenya Mortgage Loans
Other top ABSA bank Kenya loans available in Kenya include mortgage loans. This lending product allows people to get a loan regardless of how they get a loan.
This loan product is quite versatile in that One may use it to purchase a constructed home or a plot of land for development.
All you have to do now is determine which option best meets your needs and then go to any ABSA bank Kenya office to discuss the terms of your mortgage loan.
The payback time for this loan ranges from 20 to 25 years, depending on whether you opt to build or buy.
Home Equity Loan
Another popular ABSA bank Kenya loan is the equity release loan. This loan product allows you to free up money encumbered by your home’s value.
This loan type allows you to borrow up to 80% of the property’s worth.
Other elements of this loan include:
- A 15-year payback period
- Property must be valued at 1.5 million in the upcountry and 2 million in Nairobi.
- One must pay a valuation cost of 0.25 percent of the property’s worth
- One must pay a security fee.
Conclusion
ABSA Bank Kenya provides its customers with the most creative and cost-effective lending packages. The majority of its clients consider this financial institution the greatest loan provider in Kenya today.
As a result, if you need a small push, contact ABSA Bank Kenya, and they will increase your income without any problem.
Here is a list of other Bank Loans in Kenya:
