Rating based on 66 reviews

ABSA Student Loan

  • Student loans up to R250,000
  • Low-interest up to 7.5%
  • Repayment up to 72 months

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Author Absa. Screenshot of Absa website.
[Accessed December 12, 2022]

About Absa

ABSA has what you need.

At ABSA they are all about family. They don't just give you a student loan. Being committed to giving each customer the personal attention that they deserve. Striving to create a sustainable future for everyone through financial services like student loans.

A true South African bank

They are a truly South African brand. Their mission is to serve the people of South Africa by always being brave, ready, and passionate in making a positive, sustainable change in the country. They aim to empower their customers to reach great heights and in turn recommend them to their families and friends.

What ABSA aims to achieve

ABSA's goal is quite simple. The customers are the heartbeat of ABSA and are at the centre of their purpose. Where there is a possibility, ABSA will be there with the finance to bring those possibilities to life. They want to make positive changes in the lives of everyone on their path.

By giving student loans to youths with a dream they are building a better future. A student loan from ABSA is not just financing, it's making you part of the family.

Let ABSA help you

How many times have there been situations where people have the necessary drive, ambition, and intelligence to study successfully? This has been happening too many times and ABSA is changing that.

To have their courage broken by the fact that they cannot afford to pay for their studies can be devastating. With an ABSA student loan, you don't need to get left behind. They are there for you no matter the situation.

Absa Services

You have now finally finished your school career and you are super excited to jump right into your studies.

You know what you want to do and where you are going to be studying. The only thing missing is the funds to pay for your new journey. A student loan from ABSA is your answer.

What an ABSA student loan offers you

Apart from making you part of their wide family, ABSA's student loans come with many benefits. Not only does ABSA give you the best interest rates possible but there is more. Putting their customer’s needs first they are offering amazing deals.

They have decided to not only match but also beat any better interest rate you can find elsewhere on a student loan. Now that's incredible!

ABSA pays for more than just your studies

Many student loans cover only tuition fees. With an ABSA student loan, you can pay for anything that you may need to better your studies. Not being restricted in this regard allows you to do more with your student loan.

This can be anything from accommodation to tuition fees and books or any electronic equipment you might need. This is just another way ABSA makes life better with their student loans.

Get relief with an instant loan from ABSA

You often need money fast. With an instant loan from ABSA, you can get instant access to funds between R250 and R8000. When the unexpected shows up, apply for an instant loan from ABSA. For this instant loan, you can apply for a loan online and there is no paperwork involved. So if you are strapped for cash, ABSA has your back.

Use the nifty calculator

ABSA has a nifty student loan calculator that’ll show an estimate of what you’d repay on the loan you need. If you’re studying for the first year and choose to pay only interest for that year, on a loan of R50,000, you can expect to repay:

Loan amount – R50,000
48-month repayment term
7% interest rate
Initiation fee – R1,207.50
Service fee – R69
Credit protection plan – R130

Thus, for the first year, you’ll only pay R291.67 monthly and then R1,295.23 monthly until your loan is paid off. You’re estimated total repayment amount will be R65,670.91.

Absa – Student loan

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

Benefits of Absa

  • Full tertiary education finance
  • Competitive interest rates
  • The best loan deal for your needs

Student loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This student loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

At Absa you will receive a flexible and speedy loan service

In today's life, you cannot afford to get left behind.

Don't allow a lack of funding to come between you and your potential. Get in touch with ABSA today. Become part of their great big family and go for gold with student loans from ABSA. Don't delay, there is no better day than today.

Who can get a student loan from ABSA

  • Any parent with proof of income can apply for a student loan.
  • Any sponsor or guardian who has proof of income.
  • If you are a part-time student with a full-time job and you have proof of income.

The documents that you need to apply

  • A green ID book or an ID card.
  • You will need proof of address not older than three months.
  • Three months’ payslips of bank statements.
  • Proof of enrollment.
  • Proof of study-related costs for the year.

Applying for your ABSA student loan

Make sure that you meet the required criteria to apply for a student loan from ABSA. It is always good to also make sure that you have all the necessary required documentation on hand before you apply. Not having everything you need will only prolong the student loan process.

You can apply for your ABSA student loan in three different ways. You can either go to your nearest ABSA branch and apply inside the bank or at any ABSA Student Bureau. If you are not up for a trip downtown you may also give them a call.

A Friendly, helpful, and experienced consultant will be with you every step of the way and explain anything you might not find clear. You will never need to wonder about anything. Their work is to help you understand.

The benefits of a student loan from ABSA

  • You can pay for anything study-related with an ABSA student loan.
  • They will beat any better interest rate you might get elsewhere.
  • For the first 12 months, you only repay interest on your student loan.
man holding thumbs up

Absa is a trusted & reliable provider of student loans

In our review, Absa adheres to the compliance criteria in accordance with the National Credit Act, where the granting the loan will not cause financial distress to the consumer.

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

Customer Reviews & Testimonials

May 2021

I was pleasantly surprised to get a student loan from ABSA. I was able to afford everything I needed to complete my studies without a hassle. I will be recommending the ABSA student loan to all m...

Julie M
— Brits —

June 2021

I was so glad when I saw that I was not bound with the student loan that ABSA had offered me. I could pay for my accommodation as well as buy everything I needed. It was such a relief to know tha...

Shane P
— Thabazimbi —

August 2021

I knew that my parents would not be able to pay for my studies after school. I got a job and a colleague told me about the student loan from ABSA. My parents were delighted to hear that I could s...

Mpo M
— Alicedale —

Absa Contact

Physical Address

  • 180 Commissioner St, City and Suburban Johannesburg Gauteng 2000 South Africa
  • Get Directions

Absa Universal Branch Code

  • 632005

Postal Address

  • PO Box 7735, Johannesburg, 2000, South Africa

Opening Hours

  • Monday 08:30 – 15:30
  • Tuesday 08:30 – 15:30
  • Wednesday 08:30 – 15:30
  • Thursday 08:30 – 15:30
  • Friday 08:30 – 15:30
  • Saturday 08:00 – 11:00
  • Sunday – Closed