Understanding the FASTA Loan Application Process

At FASTA, we aim to make it quick, easy and simple for South Africans to get access to credit. This means creating a streamlined loan application process that gives you an outcome in minutes, after completion. In this blog post, we share the things you will need to apply for a FASTA loan and answer top questions about the application process.

What You Need to Apply for a FASTA Loan

To apply for a short termloan with FASTA, ensure 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 internet banking with a bank account in your name.
  • Contact Information: Provide a valid email address and mobile number.

FASTA’s Loan Application Process

  1. Visit www.fasta.co.za.
  2. Choose the desiredloanamount.
  3. Click on the “Apply Now” button to start youronline loan applicationfor either FASTACash or FASTACard.
  4. Follow the easy application process.

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FASTA Loan FAQs

How long does it take to process a FASTA loan application?

FASTA’s loan applicationprocess is fully automated, and your application is dealth with in real-time. Through advanced technology and algorithms, you will feedback on your application in minutes.

How long does it take for the funds to reflect in my account?

FASTA pays you as soon as your application is approved and all theDebiCheckmandate(s) have been authorised by you. However, it can take up to 48 hours for the funds to reflect in your bank account, depending on your bank.

Is DebiCheck compulsory?

Yes, it is. When you take on a new contract with a service provider, you will need to approve a debit order request electronically (which happens on your banking app or via your online banking). This gives your bank, andcreditprovider, permission to proceed with safely collecting monthly instalments from your bank account.

Will FASTA run credit checks on me when I apply for a loan?

Yes, FASTA will check your credit rating with a FASTA a registered credit bureau inSouth Africa. This is to carefully evaluate yourfinancial circumstances in terms of FASTA’slending criteria, which includes those required by the National Credit Act.

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