FASTA Loans – What You Need To Know!

FASTA is an online short term loan provider based in South Africa. They offer their users many different loan options that make them a preferred provider for short term loans. They have an ultra fast processing system that allows its customers to apply and get your loans extremely quickly! 

Besides loans, FASTA has many articles trying to educate their customers on the dangers of illegal loan providers. They provide insight into what to look out for and how to avoid these scams. This shows their dedication to serving their customers. 

About FASTA Loans 

FASTA (Pty) Ltd (‘FASTA’) is an online financial service business that provides customers with a variety of financial products directly and through partnerships with top retailers and online merchants from South Africa.

Their goal is to make it easy and quick for consumers to access financial resources. Anytime, anywhere.

This is done by providing innovative payment solutions to their consumers that allow them instant credit options online and in-store. You can access the online self-service application directly through their website or through their partner retailers’ sites.

Benefits 

  • 100% online: application is self-service
  • 100% easy: no need to upload any documents
  • 100% fast: apply, and get approved, in minutes
  • 100% convenient: repay over 3 monthly instalments

Are FASTA Payday Loans Fast? 

Yes! FASTA pays out your loan in immediately! 

In the past, you had to take a taxi, a bus, or drive to a lender. The next step is to locate supporting documents such as proof of address, bank statements and payslips. These documents will need to be printed and submitted to the lender to verify and access your loan request. The process could take several days before you get your money. 

The process of applying for quick online payday loans South Africa is faster and easier. You can apply online and get your money the next day from lenders such as FASTA Loans. You can even submit all of your documents online. 

Can you get a Fasta payday advance loan even if you have poor credit?

Sometimes we make errors, forget to pay or simply can’t afford it. Talking with creditors can resolve these problems. These circumstances can impact credit scores. Lenders use this score in order to determine whether you are too risky to borrow money.

South African lenders must adhere to strict regulations set forth by the National Credit Regulator. They will assess each borrower’s risk and financial ability to ensure responsible lending.

You will need financial information to determine whether you are eligible. There are several ways to raise your credit score. Ooba outlines six steps that will help you improve your credit score. These steps will instantly improve your credit score.

What is a South Africa payday loan?

Payday loans may be an option for short-term borrowing. Your income will determine how much you can borrow. A payday loan principal is usually a portion of your next pay check. Payday loans can be costly, especially for those who have poor credit. These loans are also known as “cash advance”, “check advance”, and “cash loan”.

Understanding payday loans

Payday loans are personal loans with no collateral that can be used to finance your daily living expenses in South Africa. They have high interest rates but are not secured loans.

A payday loan online costs you nothing

Payday loans online come with some fees. These fees are the same as traditional payday loans. These costs include:

  • Interest – Interest charges will be applied to the amount owed.
  • Initiation Fees – These are one time fees you pay at start of loan term.
  • Service Fees: These are the ongoing fees that you have to pay for your loan while it is still available.
  • VAT – VAT is charged on all fees