What are Absa Home Loans? How To Get?

Buying a new house in the current economy of South Africa can seem like an impossible task especially with soaring property rates however, Absa has made it possible for you by offering easy home loans. You just have to follow a sequence of steps to do it. 

And the best part is that the eligibility criteria of Absa loans is very basic. And to top it all, you might also get a chance to win R10,000 cash back reward on applying for a home loan for the first time. For further details, keep on reading down below. 

What are Absa Home Loans? How To Get?

About Absa Group

Absa is a conglomerate of banking and financial services. It was founded in 1991 and since then, it has helped millions of South Africans get their hands on instant cash on considerate terms. One of the most popular loans offered by this conglomerate is the Absa Home Loans. 

About Absa Home Loan

Taking out a home loan from Absa is pretty straightforward and convenient. In fact, the terms of this loan are so simple that almost anyone can apply and benefit from it. 

If you are eligible, you may even get full financing on your new home on simple terms. Furthermore, you may also choose the interest rate between fixed and variable at the start as well as in the middle of the loan with zero surcharges or penalties. 

Absa Home Loan Application Guide

Absa Account Registration

Before you can apply for the Absa home loan, you need to create an account on their official website. The process is easy and only takes a few minutes as explained down below. 

1. Go to https://www.absa.co.za/personal/loans/for-a-home/understanding-home-loans/ and click “Log In”.
2. Choose “Personal Loan” and “Absa Online” from the drop downs and click “Next”.
3. Click the “Registration” tab appearing at the top of the screen. 
4. Click “Get it on Google Play” and then “Install” to start the installation process.
5. Let the app download and install on your device completely before running it on your device. 
6. Open the app and click “Add User”.
7. Tap on “I already have an account” and follow the steps to create a new account. 
8. Note down the login credentials so that you won’t forget them. 

Absa Account Login

Now that you have successfully created an account, you may login on the website in the following steps. 

1. Go to https://www.absa.co.za/personal/loans/for-a-home/understanding-home-loans/ and click “Log In”.
2. Choose “Personal Loan” and “Absa Online” from the drop downs and click “Next”.
3. Input your login credentails and click “Login”.

Apply For Absa Home Loan

Now that you have logged in to your account, follow the below-mentioned steps to apply for the loan. 

1. Click on “Apply For A Home Loan” option appearing on your dadhboard. 
2. Select “Buy a Home” in first drop down and “By Myself” in the second drop down. Agree to the terms and conditions and click “Let’s Start”. 
3. Fill out the loan application forms and attach scanned copies if requested documents with the application. 
4. At the end, click “Submit” to finalize your loan request. 
5. Absa will take some time to verify your details and get in touch with you regarding your loan request. 

Track your Absa Application 

If you have already applied for Absa home loan and want to know the status of your application, you may follow these steps to find out. 

1. Go to https://www.absa.co.za/personal/loans/for-a-home/understanding and login to your account. 
2. Click “Track My Application” and fill out the form. 
3. Enter captcha, click “Verify” and then “Continue” to find out your application status. 

Cash Back Rewards On Absa Home Loan Application

Absa offers a unique feature of R10,000 of cashback upon successful home loan application. However, you would have to apply for this reward in the following steps. 

1. Go to https://www.absa.co.za/personal/loans/for-a-home/understanding-home-loans/ and scroll down to the Reward section. 
2. Click “Apply Now” and fill out the application form. 
3. Click “Submit” to process your request. 

FAQs

What is the term if the Absa home loan?

You can set up the term if Absa home loan in your application. However, to put it somply, you can set the loan repayment term up to a maximum of thirty years. Plus, you may also change this loan term in the middle of the loan life. 

How do I contact Absa Home loan?

There are a few official ways in which you can contact Absa home loan officials. You may contact via their telephone number 0860 111 007 or send an email on [email protected]. 

Can I apply for Absa home loan online?

Yes, the entire process of Absa home loan application is online. You can apply for the loan online via their official website. It means that you don’t even have to physically visit their branch offices at all. 

What is the maximum amount of Absa home loan that I can get?

You can get the loan amount from Absa depending upon your eligibility. It means that if you are eligible, Absa might provide you 100% financing on your new home. 

The Bottom Line

So, it is safe to say that Absa home loans is super easy to take out if you are eligible for it. The eligibility criteria is also very straightforward. Plus, the entire application process is online which means that you wouldn’t have to physically visit their branch offuce at all. 

Besides all that, the loan terms offered by Absa on home loans are very convenient. In fact, you can even change your interest rate from fixed to variable in the middle of loan term without having to pay any oenalties. So, I would definitely recommend you all to benefit from this excellent opportunity and become a home owner today!