Your credit facility is allocated evenly between ‘straight’ and ‘budget’ transactions.Interest on budget transactions is charged from day one of purchase.However, if you do it through Absa online, you can choose between 3 to 48 months. If you set up your transaction amount through a merchant, you can choose a repayment period of (6, 12, 18, 24, 36, 48, and 60) months.When you pay using your Absa credit card, R300 is the minimum amount for budget transactions.

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 repayment amount due in respect of your straight facility will not apply.

Budget payments: You’ll repay the purchase price over a selected period of time in instalments.

The minimum percentage payable depends on your product and bank, but can be either 3%, 5% or 10%.

You must repay the minimum percentage of your outstanding balance every month, plus any fees and interest.

Depending on your account status, you generally do not incur interest within the first 55/57 or 60 days.

Straight payments: You’ll start to repay your purchase in the next month.

You can choose between straight and budget when you pay with your credit card.

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