The Absa Digi Loan is an unsecured, short-term mobile loan facility available to active Absa Bank Kenya account holders. It is accessed entirely through the Absa Mobile Banking platform.
The loan is flexible bail out for situations when say you have an unexpected medical bill, an urgent business opportunity, or a mid-month bridge.
Key Features and loan limits
- Loan Amounts: Borrow as little as Ksh. 500 up to Ksh. 1,000,000, depending on your credit limit.
- Flexible Repayment: Choose a term that fits your cash flow, options include 7, 14, 21, 30, 90, or 180 days.
- Instant Disbursement: Once approved, funds are credited directly to your Absa bank account.
- Accessibility: Funds can be withdrawn via M-Pesa, Absa ATMs, or transferred to other accounts.
How to qualify and apply
To access the Absa Digi Loan, you must be at least 18 years old and hold an active Absa bank account.
- Check Your Limit: Log into your Absa Mobile Banking platform or dial the USSD code *224#. Your pre-approved credit limit will be displayed.
- If you don’t have a limit yet, continue transacting with your Absa account to build your credit score.
- Request a Loan: Navigate to the “Absa Digi Loan Menu” and select “Request Loan.”
- Choose Your Terms: Enter the amount you wish to borrow and select your preferred repayment period.
- Accept Terms: Read the Terms and Conditions. By clicking “Accept,” you enter into a legally binding agreement.
- Receive Funds: Upon appraisal and approval, you will receive an SMS confirmation, and the money will be deposited into your account immediately.
When you take out an Absa Digi Loan, the following costs apply:
| Charge Type | Description |
| Interest Rate | Calculated based on the Absa Base Rate (ABR) plus a margin. |
| Processing Fee | A one-time fee charged upon disbursement as per the current tariff. |
| Taxes | Statutory taxes (e.g., Excise Duty) apply to all transaction fees. |
| Late Fees | If a loan is not repaid on time, a roll-over fee or penalty will be applied to the outstanding balance. |
Here are a few things to keep in mind
- If you fail to repay within the agreed period, the bank will automatically roll over the balance for an additional 30 days, which attracts extra fees.
- Absa is required by law to share your credit information with Credit Reference Bureaus (CRB). Timely repayments help you build a positive credit history, while defaults can affect your future borrowing ability.
- Never share your Mobile Banking PIN.