FASTA offers a quick financial solution for South Africans who need cash in a hurry. You can apply for a loan of up to R8,000 with approval in minutes and funds paid directly into your bank account. The interest rate is set at 3% per month, and you can choose to repay over one, two, or three months. The application requires only your SA ID number, a mobile number, and online banking details. This makes it accessible and convenient for many.

How to Apply for a FASTA Loan

The application is online and user-friendly. First, use the loan slider to select the amount you need, then choose the number of instalments that suit your budget. Next, submit your details, including your SA ID number and banking credentials. Once submitted, FASTA will verify your information and perform an affordability assessment. If approved, review and accept the offer, and the funds will be deposited almost instantly.

Main Advantages

One of FASTA’s biggest draws is instant approval. This allows you to manage emergencies quickly without tedious paperwork. With repayments up to three months, the flexibility helps to fit the loan into your financial plan. The online-only process means you can apply from anywhere, making access simple and convenient.

Potential Drawbacks

Interest rates at 3% per month plus added service and initiation fees mean the loan may be relatively expensive if extended to three months. Additionally, a valid online banking account is required, so those without digital banking cannot apply. The maximum of R8,000 may not be sufficient for larger financial needs.

Our Verdict

FASTA is a strong option for South Africans needing a short-term cash boost with minimal delay. The process is fast and convenient, but be sure to consider the fees and ensure repayment suits your budget. For urgent, smaller loans, it’s certainly worth considering.