5 Things to Know About FASTA

man holding a phone with fastacard on the screen

How long does a FASTA loan application take?

Our fastest loan application has taken less than 5 minutes, from application to pay-out! On average,applying for a FASTA loantakes 5-10 minutes.

If you applied for aFASTACashloan, the funds are sent to your bank immediately once you are approved but, depending on which bank you bank with, it may take up to 48 hours for the cash to be available. If you applied for aFASTACardloan, the funds get loaded onto your FASTACard, which you can use immediately.

How long does FASTA take to payout your loan?

While you do receive the outcome of your FASTA loan application in minutes, payout is determined by when you applied for a loan:

  • Immediate payout for loan applications done on a week day.
  • Payout is processed on the next business day if yourloanapplication is done on a weekend or public holiday.

Thereafter it can take up to 48 hours for the funds to reflect in your account, depending on who you bank with.

Can you have 2 FASTA loans at the same time?

Some credit providers allow you to havemore than one loan at a time– such as personal loans and home loans from a bank, or you can have multiple loans from different lenders. Other lenders, like FASTA, only allow oneloanat a time to ensure you are able to manage your money responsibly. This means that you need to pay off your currentloan before applyingfor a new loan. For more information on what a FASTA loan is and how it works check out our other bloghere.

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What banks does FASTA accept?

At the moment, FASTA is able to service customers using the 5 major banks inSouth Africa. The banks are:

  • ABSA Bank
  • Capitec
  • First National Bank (FNB)
  • Nedbank
  • Standard Bank
  • Tyme Bank

How does FASTA work?

  1. You apply directly on theFASTA website.
  2. Adjust the sliders to select the amount ofcredityou need as well as the number of instalments you would like.
  3. The costs of theloanwill be displayed to you automatically, so you can choose an option that is most affordable for you.
  4. Click the‘Apply now!’button to start aquick online application. We will guide you through the process and tell you what information we need to make acreditdecision.

Once you are approved:

  • For FASTACash, we will pay thecash value of your loaninto your chosen bank account.
  • For FASTACard, we will load thecredit value of your loanonto your FASTACard.
  • For FASTACheckout, we will pay the value of your credit directly to the retailer, and you get the goods you ordered online.

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