✅Access credit from R15,000 to R350,000 instantly
✅Fixed monthly repayments that help with budgeting
✅Personalised interest rates, based on your credit profile
✅Re-borrow up to the full approved facility once 15% is repaid, hassle-free
Why does the Utua team recommend the Absa Revolving Credit Facility?
The Utua team recommends the Absa Revolving Credit Facility for its adaptability and user-friendly approach. With credit limits ranging from R15,000 to R350,000, it offers the flexibility to meet various financial needs, whether big or small.
The repayment terms are also flexible, having the minimun repayment term of 12 months and with an infinite maximum repayment term. As soon as you’ve repaid 15% of the facility, you can revolve to it’s original limit or a lower ammount, with consitent payments and some minor service fees changes.
All of that allied with the Absa Credit Protection Plan, made to cover unexpected situations like in the event of death, disability, critical illness, terminal illness or loss of income.
Who can apply for the ABSA Revolving Credit Facility?
The Absa Revolving Credit Facility is available to Absa clients who meet the eligibility criteria. To apply, you must be over 18 years old and have a stable income to ensure you can handle the credit repayments, and have an Absa account for income deposits. This facility is ideal for those who want flexible access to funds without the commitment of a traditional loan.
Whether you need the credit for unexpected expenses, planned purchases, or simply as a financial safety net, this facility can be tailored to your individual needs.
Required documentation
You’ll need to have a few essential documents ready. These include your South African ID and proof of income, such as recent payslips or financial statements if you’re self-employed. Additionally, you’ll need to provide your most recent bank statements, and proof of residence, and detail your monthly expenses.
Writer’s opinion
To illustrate the benefits of the Absa Revolving Credit Facility, consider this scenario: Imagine you’ve accessed R50,000 for an emergency home repair. With this ammount a monthly repayment of at least R1,319 should be paid, along with other service fee’s and initiation fees. The revolving nature of the credit means that once you repay 15% of the amount, it’s available again for future needs, offering continuous financial flexibility.
How to apply for the Absa Revolving Credit Facility?
Ready to take control of your financial flexibility? Applying for the Absa Revolving Credit Facility is quick and straightforward.
Simply Visit Your Local Absa Branch, or call 0860 100 372 to get in touch with one of Absa Consultants.
