How Do I Apply For Fasta Loans In South Africa 2023?

How do I apply for a Fasta loan? Fasta Loans is another fast advance in South Africa that offers personal loans of R8,000 without any paperwork or collateral. We know life changes unexpectedly and you need financial support from a company that understands your needs.

Because South Africa is a diverse country with different people, Fasta Loans offers different types of credit so that you can choose the option that suits you best. From direct loans to dealer vouchers, we have your financial needs covered.

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About Fasta Loans

FASTA (Pty) Ltd is a dynamic fintech company that offers consumers a new payment method for their online and in-store purchases. Thanks to innovative technology, FASTA offers its customers access to credit within minutes.

Like Capfin Loan, Finchoice Loan, Nedbank Loan, Atlas Finance Loan, Hippo Loans, etc., FASTA’s self-service application process is completely online. It’s fast, secure, simple and easy to use, offering consumers up to R8000, payable over 4 months.

How do Fasta loans work?

Before we talk about How to apply for a Fasta loan? Let’s talk about how Fasta Loans work. The loan application process from Fasta can be easily completed online through a safe, fast and secure medium on their website and the funds will be sent directly to your bank account upon approval.

Step 1: Adjust the sliders to choose the amount you need and the number of instalments you want to pay back.
Step 2: The cost of the loan is automatically shown to you and helps you choose the option that is cheapest for you
Step 3: You must complete a short online application. They will walk you through the process and tell you what information they need to make a credit decision.
Step 4: After approval, Fasta Loans will deposit the cash value of your loan into the bank account of your choice.

Requirements for Applying for Fasta Loans

A valid South African ID number
Be 18 years or older
Earn a minimum monthly salary of R7000 for the past 3 months
Have a valid bank account in your name
Provide a valid email address and mobile phone number.

How Do I Apply For A Fasta Loan?

Register your profile on their website or log in to your Fasta Loans online account if you are already a user.
Select the desired FASTA product.
Fill in your details and complete the online application

How much do Fasta loans offer?

Fasta loans provide access to credit up to R8000. You can repay FASTA in up to 3 equal monthly instalments.

How to make a manual payment with Fasta

Instant payments can be made by going to your “My Account” page on the FASTA website.
You can also email support@fasta.co.za to request that you receive a payment link.

Interest rate and fee for Fasta loans

Fasta Loans do not believe in hiding fees or offering more loans than you can afford. Therefore, the sliders provide an easy way for you to understand the total cost that you will be charged based on the loan amount you want.

You do this at the outset so you can stay in control and make an informed decision based on what you can afford.

As a registered lender, Fasta Loans fees and interest charged are based on the regulations in Section 5 of National Credit Act 34 of 2005.

Fasta considers each application for itself. They charge a fixed interest rate per month, which depends on your individual credit risk profile at the time of application and can be between 0% and a maximum of 3% or 5% (depending on whether it is your first or next loan with FASTA).

Please note; the amount of interest that Fasta charges depend on how much you want to borrow and how long you want to borrow it. They will never charge an interest rate that exceeds the statutory maximum under Chapter 5 of the National Credit Act 34 of 2005.

Credit check for Fasta loans

Fasta is committed to responsible lending and wants the best for its customers. They don’t offer you more credit than you can afford and believe that taking out additional credit should only yield positive results, not an extensive financial burden.

FASTA will carefully evaluate your financial situation against the loan criteria, including those required by national credit laws.

For this reason, Fasta will check your creditworthiness with one of the nationally registered credit bureaus in South Africa.

Fasta loan entry fees.

This is a one-time fee that you will be charged for opening your FASTA holding account. You can pay him this amount separately or he can include it in your loan.

Fasta is a standard that includes that compensation in the rates they offer you. It is calculated as follows:

FASTA charges 10% of the rental value excl. 15% VAT and is limited to a maximum of R 1059 excl. 15% VAT.

Fasta Loans for Immediate Application

1. Fasta cash register

Fasta Checkout is a credit with which you can directly pay for your online purchase at participating online retailers:

To sign up, select FASTACheckout as your payment option.
Complete the online application process.
After approval, Fasta pays the dealer – you receive the goods.

2. Fasta Cash

Fasta Cash is also a loan that is deposited directly into your bank account without any problems and can be spent anywhere.

Click “Apply Now” below to start your easy online application process.

3. Fasta Card

This is an activated virtual credit card that is topped up with your credit amount, which you receive immediately and can spend online anywhere in SA where Mastercard is accepted and in-store with Snapscan direct or with Snapscan and Zapper via VodaPay.