What can I do with the budget facility?

• When you make a payment selecting the budget repayment facility, you are choosing to pay the purchase amount back over a selected period of time in fixed instalments.
  • The minimum repayment amount due in respect of your straight facility will not apply. The budget transaction amount is divided by the number of months selected, and your monthly repayment will be calculated by adding the amount due under the budget facility to the minimum payment due under your straight facility (plus associated interest).
  • The minimum amount allowed for a budget transaction on an Absa Credit Card is R300.
  • You have a choice of term between 6 and 60 (6, 12, 18, 24, 36, 48, 60) months when the transaction is set up via a merchant, or 3 and 48 months when we structure the transaction via the Absa Card Call Centre.
  • Interest on the budget transaction is charged from day one and will be added to the total amount.
  • Your credit facility is allocated overall between your straight and budget transactions. For budget transactions, the full purchase amount for the budget transactions is deducted from your total available credit facility.