How to get a quick loan at Fasta
Fasta: Quick overview
Loan amount: R800 – R8000.
Loan term: Up to 3 monthly instalments.
Interest rate: From 3% (depending on loan amount)
Fees: Initiation fee, monthly service fee and administration fee (R69).
Loan types: Short-term loan (3 monthly instalments)
About Fasta:
Fasta is a South African short-term loan program that provides borrowers with access to ‘financial resources simply and quickly. Anytime, anywhere.’
Fasta uses world-class, advanced technology to give its borrowers credit in minutes, making it a fast and efficient option for borrowers who need money quickly.
How to apply for Fasta loans online application form?
Here are the typical loan application steps.
- Visit the Fasta website.
- Select either Fasta Cash (cash in your account) or Fasta Card (cash on a digital card).
- Use the slider on the screen to select the amount required.
- Choose how many repayments/instalments – 1,2, or 3 instalments are the options.
- Click on the green ‘Apply now!’ button.
- Complete the application that will require applicants to fill in personal details.
- The application is completed.
Application requirements:
- Valid South African ID number.
- 19 years or older.
- Minimum salary of R6000 in the last three months – provide slips.
- Access to Internet banking in your name.
Who is eligible for Fasta loans?
To be eligible for a loan, these are must-haves.
- South African residents with proof of ID.
- Applicants over the age of 19.
- Applicants with a monthly salary of at least R6000.
- Proof of residence.
- A letter of employment.
Fasta loan interest rate?
Fasta has one of the lowest interest rates in the country at 3%. Regulated by the NCA’s guidelines, the minimum interest rate of 3% is based on the borrower’s credit score.
Interest rates are calculated according to each applicant and will be finalised once the loan has been approved.
How long does Fasta take to approve a loan?
Fasta loans are one of the quickest to get approved. Before a loan is approved, Fasta will conduct credit checks and verify that all details are valid. Funds are received immediately once approved.
Who is Fasta best for?
Fasta is best for borrowers who:
- Urgently require short-term loan assistance.
- Prefer quick and convenient online application processes.
- Want to pay off loans within three to six months.
Pros of Fasta
Quick and easy: The application process is convenient and efficiently done online. It takes less than 10 minutes to complete and can be done from the comfort of your phone.
Low-interest rates: Fasta offers interest rates as low as 3% (personalised according to the applicant), one of the lowest rates in South Africa.
Flexible repayment options: Applicants who want to pay off their loan in a short amount of time will find Fasta’s 6-month repayment time period advantageous.
Cons of Fasta
Minimal options: Fasta only provides short-term loans with a maximum of R8000 that can be loaned. This is not a good option for applicants seeking a higher financing option.
Strictly online: Fasta operates only online. There are no in-person branches that are available to the public. For those who need help with technology, this may pose a problem.
Fasta Loans Contact Details
For further enquiries or information, please see the below contact details for Fasta:
Phone: 087 470 0400
Phone: 021 054 9530Email (Info): support@fasta.co.za
