Wednesday, April 24, 2024
HomeBusinessBankingAbsa Loans: List of...

Absa Loans: List of Absa Kenya Loans

In This article will look at all the Absa loans one can apply for from Absa Bank. Absa Bank Kenya Plc, formerly Barclays Bank Kenya Limited, is a commercial bank in Kenya and a subsidiary of South Africa-based Absa Group Limited. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.

Here is a List of Absa Kenya Loans

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.

Unsecured Loan Non Check Off

Requirements

Absa accountholders

  • Latest payslip (certified)
  • National ID card or passport (non-Kenyan)
  • KRA – PIN

Non-Absa accountholders

  • Last two months payslips (certified)
  • Bank statements for three months (certified)
  • One passport photo
  • KRA – PIN
What you Get
  • Affordable credit life insurance
  • Repayments deducted from your salary
  • Borrow up to KES6 million*
  • Competitive interest rates and fees
  • Easy approval
  • Quick access to your money
  • Flexible repayment periods of up to 96 months
  • No collateral or security needed to apply for the loan

*Terms and conditions apply

Unsecured Loan Check Off

Requirements

Absa accountholders

  • Latest payslip (certified)
  • National ID card or passport (non-Kenyan)
  • KRA – PIN

Non-Absa accountholders

  • Last two months payslips (certified)
  • Bank statements for three months (certified)
  • One passport photo
  • KRA – PIN
How it works
  • Get affordable credit life insurance
  • Borrow up to KES6m
  • Flexible repayment periods of up to 72 months
  • Available to self-employed, employed or contract workers
  • Competitive interest rates
  • No collateral or security needed to apply for the loan

*Terms and conditions apply

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.

How do I get a loan from Timiza?

How to Apply for Timiza Loan Using USSD code *848#

  1. Dial and call *848# on your Safaricom line registered with Timiza.
  2. Enter your Timiza PIN.
  3. You will see your Loan Limit at the top of the onscreen together with other menus.
  4. Select the option Loan and press Send.
  5. Next, select Request Loan.
  6. Choose the option, Get Cash.

Absa Kenya Mortgage Loans

According to the Central Bank of Kenya, the average mortgage size is Ksh. 8.6 million, the average interest rate charged is 10.9% and the average repayment period is 11.2 years. 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.

Follow us on Twitter. Send us a secure tip

- A word from our sponsors -

Most Popular

More from Author

Angola’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Here's a look at Angola's wealthiest individuals in 2024, highlighting the...

Algeria’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Algeria, with its significant oil and gas reserves, has a group...

Ethiopias’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Ethiopia, known for its rich cultural heritage, is also home to...

- A word from our sponsors -

Angola’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Here's a look at Angola's wealthiest individuals in 2024, highlighting the top entrepreneurs and business magnates who are shaping the country's economic landscape. This list is current for 2024 and excludes Isabel Dos Santos, focusing on the new and prevailing forces in Angola's billionaire circle.Angola’s Billionaire Elite:...

Discover the Ultimate Road Companion: Nissan Caravan Now Available in Mombasa, Kenya

Are you on the hunt for a vehicle that combines robust performance with spacious comfort? Look no further than the Nissan Caravan, currently on offer in the bustling city of Mombasa, Kenya. Ideal for businesses requiring cargo transport, groups seeking adventure, or families needing extra space, the...

Algeria’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Algeria, with its significant oil and gas reserves, has a group of wealthy individuals whose influence spans across various industries including construction, manufacturing, food, and pharmaceuticals. Here is a table summarizing the top 10 wealthiest individuals in Algeria as of 2024:As of 2024, here is the latest...

Rising Icon of Sport: Kenya’s Talanta Stadium Set to Redefine African Athletics

Kenya's Pinnacle of Pride: Unveiling the Talanta Sports CityNAIROBI-KENYA | Amidst the bustling energy of Nairobi, a new landmark rises - the Talanta Sports City. A marvel of architecture that intertwines the spirit of Kenyan heritage with cutting-edge design, this stadium is poised to become a beacon...

Ethiopias’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

Ethiopia, known for its rich cultural heritage, is also home to some of the wealthiest individuals in Africa. These moguls have diversified their investments across various sectors including oil, mining, agriculture, and real estate, significantly contributing to the nation's economic development. Here's a look at the top...

Trailblazers of Wealth: Kenya’s Five Most Influential Women in 2024

Kenya's economic landscape is distinguished not only by its vibrant markets and industries but also by the formidable women who have risen to the top of these sectors. As of 2024, here is a detailed look at the five richest women in Kenya, highlighting their net worth,...