If you’re looking to apply for a FASTA loan, it’s important to approach the process thoughtfully to ensure you are well prepared for what you’ll need before you apply. In this blog post, we share our 5 top tips to consider when applying for FASTA loan.
1. Check Your Credit Score First
Having a higher credit score can improve your chances of qualifying for a FASTA loan. Before you apply,check your credit scoreand take steps to improve it if necessary, such as paying off outstanding debts or disputing any errors on your credit report.
2. Know What You Need Before Applying for a FASTA Loan
To apply for aFASTA loan, make sure you meet the following criteria:
- ValidSouth AfricanID: Have a valid South African ID number.
- Age Requirement: Be 19 years or older.
- Minimum Monthly Salary: Earn a minimum monthly salary of R6000 for the last 3 months.
- Internet Banking: Have access to internet banking with a bank account in your name.
- Contact Information: Provide a valid email address and mobile number.
3. Gather the Required Documentation
When you apply for aFASTA loan, you will need to provide documentation that verifies your identity, income, and employment status. For example, beprepared to provide your last 3 month’s bankstatements to verify your salary and prove that you do receive an income. Having all of the necessary documentation ready beforehand can help streamline theloanapproval process.
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4. Understand the FASTA Loan Application Process
- Visit www.fasta.co.za.
- Choose your desiredloanamount.
- Click on the “Apply Now” button to start youronline loanapplication for either FASTACash or FASTACard.
- Follow the easyapplication process.
5. Make Sure You Are Borrowing Responsibly
Before applying for aFASTA loan, assess your financial situation and determine how much you can realistically afford to borrow and repay. Avoid borrowing more than you need or can comfortably repay within the specified repayment period. Consider the impact of getting aloan on your overall financialhealth and whether you have a solid plan for repaying the loan on time.
TIP: Here’s how you can prepare and plan foryour FASTA loan repayment.
By following thesetips when approaching the FASTA loan applicationprocess, you can increase your chances of securing the loan. Remember to borrow responsibly and only take out aloanif you genuinely need it and can afford to repay it on time.
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