Tuesday, July 23, 2024
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Fasta Loan Review

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  • Loan Amount: R500 – R8000
  • Loan Term: 1 to 3 months
  • Interest Rate: 3% per month
  • Fees: Initiation Fee: R86, Service Fee: R69, Credit Protection Fee: R6.33
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  • 1. No Document Upload Requirements: Setting itself apart, FASTA eliminates the need for extensive paperwork by conducting all transactions via internet banking.
  • While the automated system is efficient, borrowers also have the option to manually upload documents if preferred.
  • 2. Easy Application Process: FASTA offers a user-friendly, self-service application process, ensuring a seamless experience for borrowers from start to finish.
  • 3. Fast Response: FASTA boasts rapid response times, with some applicants reportedly receiving funds within a mere 4 minutes of application.
  • 4. Innovative Options: As one of the most innovative credit providers in the country, FASTA goes beyond traditional lending.
  • Borrowers can explore options like obtaining a virtual card or securing credit that directly pays for online purchases.
  • 1. Mandatory Credit Protection Plan: While the Credit Protection Plan offers valuable coverage in case of death, disability, or retrenchment, FASTA mandates its inclusion. Borrowers do not have the choice to opt for their preferred Credit Protection Insurance.
  • 2. Limited Options for Larger Cash Loans: FASTA may not be the go-to choice for borrowers seeking larger cash loans over an extended period.
  • 3. Loan amounts may have limitations based on creditworthiness
  • Fasta is a fully registered company in South Africa.
  • Fasta is regulated by NCR.
  • Their loan processing is faster; once you are approved funds are deposited in your account almost immediately.
  • Their application process is entirely online and paperless, Isn’t that amazing? Yah it was for me.
  • You can get loans as little as R800 to almost R8000 and pay back in installments
  • Fasta has a clear address, you can reach out to them anytime in case there are issues.
  • You should be 19 years old and above.
  • You should have a South African National ID.
  • You should have an email address and phone number.
  • You should be earning at least R6000 for the past three month
  • Cash loans of up to R8000 deposited directly into your bank account.
  • Instant access to funds, depending on your bank’s processing times.
  • Flexibility to utilize the money for any purpose.
  • Money loaded onto a virtual card, usable for online shopping where Mastercard is accepted.
  • A virtual card that exists solely online, ensuring quick application and issuance within minutes.
  • Versatility to use the virtual card for various online services and in-store transactions.
  • Tailored for online shoppers looking to make purchases from participating retailers.
  • Integration into the checkout process, allowing borrowers to choose the deposit and loan amount, along with the repayment period.
  • Transparent display of the total cost of the loan before finalizing the online purchase.
Fasta Loan
  • Require small, short-term loans
  • Seek to make online purchases using loan funds
  • Need rapid access to cash
  • Prefer a hassle-free application process without document submission

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