Absa Gold Graduate Account Review 2022

Absa Gold Graduate Account

The Absa Gold Graduate Account is a cheque account for students enrolled in higher institutions who are in their final year of study or have completed their three-year degree or diploma. The account can be utilized for a maximum of 36 months or three years prior to being upgraded to the Absa Gold Value Bundle Account. This account features particular perks tailored to the needs of graduate or final-year students. Before you get your first income, the Absa Gold Graduate Account provides you with access to an overdraft and credit facility.

Absa Gold Graduate Account Summary 

The Absa Gold Graduate Account is a first-tier cheque account for final-year tertiary students and recently graduated individuals. It costs R54.50 a month and account holders receive discounts of up to 30% through rewards lite. If you maintain a balance of R30,000.00 or more in your account, you receive a 50% discount on the monthly cost. Unlimited card purchases, account payments, electronic inquiries, overseas debit orders, and stop orders are included with the Gold Graduate Account. You will receive a free deposit of up to R4,500.00 per month and will then be charged R2.00 per R100.00 at Absa ATMs and R60.00 + R2.00 every R100.00 at any Absa branch.

Absa Gold Graduate Account Benefits 

  1. Comes with unlimited SMS notifications, debit card purchases, balance enquiries, and beneficiary payments. 
  2. Access to credit before you get your first salary. 
  3. Comes with estate planning offer. 
  4. You get free will drafting service with Absa Trust
  5. You get assistance with your insurance car needs, sourcing finance and delivery of your first motor vehicle. 
  6. There is no monthly fee on an overdraft for the first 12 months. 
  7. You get discounts of up to 30% on a membership at selected gyms in South Africa. 
  8. You get R200.00 travel voucher from intercity or TravelStart. 
  9. The account comes with a monthly complimentary food voucher of R50.00 that you can use at Debonairs, Steers, Nando’s, Wimpy or Burger King. 
  10. Comes with free financial advice to enhance your banking experience. 

Absa Gold Graduate Account Fees 2022

Fee descriptionAmount
Monthly service fee R54.50
50% discount on monthly service fee if you maintain a balance of R30,000.00 R27.25 
Cash deposits: Absa ATM, cash acceptorUp to R4,500.00
Debit card purchases: debit card purchases, point of saleUp to R4,500.00
Out of bundle cash deposit at Absa ATM & cash acceptorR2.00 per R100.00
Out of bundle cash deposit at Absa branch R60.00 +R2.00 per R100
Cash withdrawals at Absa ATM : Out of BundleR2.00 per R100.00
Cash withdrawals at Absa Branch: Out of BundleR75.00 +R2.00 per R100.00
Overseas ATM/POS OUT OF BUNDLE feeR75.00
Debit card purchasesFree
Point of sale cash withdrawals Free
External debit ordersFree
Accounts payments via Absa ATM, online and mobileFree
Inter account transfersFree
Stop ordersFree
International debit ordersFree
Cheque issued feeR200.00
Cash sendR2.00 per R100.00
Special clearance feeR200.00
Debit card replacement feeR140.00
Declined feeR200.00
Absa Gold Graduate Account Fees 2022

Competitive Advantages of the Absa Gold Graduate Account 

  • You can get credit before receiving your first salary. 
  • The account comes with an overdraft facility that one can apply for. 
  • Comes with extended services such as estate planning, and will writing. 
  • You get assistance with motor vehicle finance and motor vehicle insurance. 
  • You get discounts and food vouchers that you can use at selected stores. 
  • Has free services such as SMS notifications, debit card purchases, and balance enquiries. 
  • The account offers 50% off on your monthly service fee if you maintain a balance of R30,000.00 throughout the month. 
  • You get specialised help whenever you want guidance with banking for free. 

Competitive Disadvantages of the Absa Gold Graduate Account 

  • Access to loans before receiving your first salary may not be desirable since you won’t be having a comprehensive cash budget at this point in time. 
  • The account doesn’t offer discounts and rewards for some of the things that newly graduates spend on such as movie discounts, Uber/UberEats discounts and insurance discounts. 
  • The account doesn’t come with a rewards program, meaning you need to apply and pay for Absa Rewards Program if you want rewards. 

How to qualify for the account

  1. You must be under the age of 30 by the time of application. 
  2. Be in your final year of studies or have qualified with a three-year degree or diploma or other post-graduation education. 
  3. Must have a South African ID book or Smart card or if you are not a South African resident, you must have a passport. 
  4. Proof of residence that is not older than 3 months at the time of application. 
  5. Have proof of qualifications or confirmation of final year studies. 
  6. Have your latest payslip or latest 3 months bank statement ( for those who want an overdraft facility).


The Absa Gold Graduate Account is an excellent method for a young professional to begin banking, as it comes with numerous incentives. The lifestyle benefits of the account and access to professional advisors can assist a new account holder in banking more effectively and saving money. Absa is sensitive since it recognizes that beginning a profession can be stressful and financially draining due to the lower pay at this period. The unrestricted services accessible on this account allow for stress-free banking. Additionally, the account has a minimal monthly service charge that practically any graduate or soon-to-be graduate can pay.

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