What are the eligibility criteria for ABSA's loan products?

ABSA offers a range of loan products, and the eligibility criteria can vary depending on the specific type of loan being sought, such as personal loans, home loans, or vehicle financing. Generally, applicants must meet a few common requirements to be considered for any loan product. Firstly, an individual must be at least eighteen years old, which is the minimum legal age for entering into a loan agreement. It is also important that the applicant holds a valid South African identification document or relevant residency documentation. In terms of financial stability, ABSA typically assesses the applicant's credit history and affordability. A good credit record will generally enhance the chances of approval, while a low credit score may present challenges. Applicants should demonstrate a stable source of income, which may include salary slips or bank statements, to indicate their ability to repay the loan. Additionally, ABSA may require applicants to provide supporting documentation, such as proof of residence and information about existing debts. For specific criteria related to a particular loan product, visiting the official ABSA website may provide further insight.