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ABSA Study Loan

Last Updated: May 11th, 2019
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ABSA Study Loan

Have you been accepted to study at a university? To better your life with the career of your choice but worried about how are you going to fund your studies?

ABSA Study Loan is the best place to go when you need a loan to pay for your university tuition.

What you need to know about ABSA Study Loan

ABSA study loan is available to students who are either studying full time or part time, or undergraduate or postgraduate.

The study loan can fund you for a minimum of R15 000.The loan can be used to cover all your study needs; that can be tuition fees, accommodation, prescribed textbooks or any equipment (such as laptop) needed to help in your studies.

The loan is offered at the lowest possible interest rate. This is aimed at helping change your life for the better.

Want to know the best part?

The best part about ABSA Study Loan is that you can only pay for loan interest while you’re studying (full time only). And you get to repay the loan once you are done with your university course.

ABSA also offers credit protection plan which covers the loan when you are unable to pay it back in the event of death, illness, disability and so on.

In order to qualify for a study loan with ABSA, you need to have a minimum income of at least R3000. Obviously, this doesn’t refer to you because you’re still studying. It refers to your next of kin or surety.

Your surety (sponsor) will be responsible for paying the study loan interest until you get yourself a good job.

Here are the documents needed when applying:

  • A valid south African identity document
  • 3 months bank statement or payslip as proof of income
  • A proof of residence, this can be in a form of municipal bills
  • An acceptance letter from the accredited institution

Wondering how you can apply for the loan and getting all necessary information? Here’s to how:

Applying for ABSA study loan is quick and easy, you can visit their website at www.absa.co.za.

Or you can visit any of the ABSA branches nationwide for hands-on assistance.

Alternatively contact them on 0860 100 372 to speak to a consultant.