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Fasta Loan and How to Apply

By Oluchukwu Ikemefuna

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You need a loan and you need it fast. You’re talking about a matter of minutes type of fast. 

We got you. With the current decline in the global economy, a loan seems to be the fastest means of settling financial constraints for the average citizen. 

But with loans comes interest rates, disbursement time, repayment period, and all the other hindrances that might make you reconsider. 

Fasta Loan provides a clean and transparent system where you won’t have to worry about these issues. With low interest rates, fast disbursement times and a convenient repayment plan, Fasta Loan is one secure and accredited loan agency that you might want to consider taking your next loan from.

Also read: How to Apply for UIF in South Africa 2024

About Fasta Loan

Fasta Loan is a South African loan agency that offers easily accessible loan options between R800 and R8000 to South Africans. 

Established in 2017, Fasta Loan has grown with tremendous speed and innovation. It has been rated a Net Credit Score of 72, with customers testifying that it’s one of the fastest loan agencies in the South African money lending market. 

“Interest is low, and the service is incredibly fast and convenient. Definitely what your name says – FASTA!.”

Fasta Loan customer:

It is important to note that currently, Fasta Loan only caters to customers who have an account with either of these South African Banks:

  • Amalgamated Banks of South Africa (ABSA) Ltd.
  • First National Bank (FNB)
  • Standard Bank
  • Capitec
  • Nedbank

Why Fasta Loan?

There are several reasons why Fasta Loan is a good option for you, and here are some of them: 

  1. As the name implies, it’s a fast loan option – the application to approval time takes 5 to 10 minutes only! The funds are also disbursed immediately. You should receive your loan in less than one hour, without any technical delays from your bank. However, if your application is made on a weekend or a public holiday, disbursement will be made on the next working day.
  2. Fasta Loan partners with leading customer service centres and debt collection agencies in South Africa to meet your needs.  These partners serve as a backup; if the Fasta Loan website is inaccessible, you can proceed with your application on any of their partner sites.
  3. Fasta Loan provides loans in three different ways, for the convenience of its customers. The most common method of obtaining a loan on Fasta is Fasta cash, a financial sum paid directly into your bank account. You also have the option of a Fasta Card, a virtual card topped up with your required sum. Application for the card takes just a few minutes and is a completely digital process. This card can be used in place of a Mastercard, in three ways: 
  • For online shopping in any South African store
  • To subscribe on Netflix, Prime Video, or any other online subscription service
  • In-store within South Africa, using Snapscan

Finally, Fasta Loan can come in the form of a Fasta Checkout. This product works in partnership with Fasta Loan’s participating retailers. After shopping online, simply select “Fasta” on checkout. 

Other Reasons to Consider Fasta Loan

  1. You can lend up to R8000, payable in up to three monthly instalments.
  2. In granting your loans, Fasta adheres to regulations stipulated in the National Credit Act, 2005. In compliance with Section 106(1) of the Act, for instance, Fasta mandates that its customers have Credit Protection Insurance (CPI). This is a form of security for your family and the loan agency. In the case of death or incapacity, CPI covers your outstanding debt, if any, thereby absolving your family from dealing with your debt. 

Also read: Smart ID Online Application South Africa 2024

How Can I Apply for Fasta Loan?

Application for a Fasta Loan is easy. It is a completely digital process. From application to approval, the entire process takes 5 to 10 minutes, in the absence of technical or procedural complications. Below is a step-by-step guide for your Fasta Loan application. 

Step 1: Prepare Your Application Materials 

Before you start your online application, ensure you have all the Fasta loan requirements. This will enable a quicker application process. Check out what you will need in the next section. 

Fasta Loan Requirements

  • A valid RSA ID number 
  • Your bank statement showing a legal source of income within the past three (3) months 
  • Proof of your residential address
  • A mobile phone and swift Internet 

Step 2: Apply Online 

Next, head onto the Fasta Loan website and take the following steps: 

  • On the home page, select the amount you would like to loan using the auto slider. The loan calculator will then process the total fees and interest rate
  • If you are fine with the calculated interest rate and ready to move ahead, click the “Apply now” button 
  • Enter your South African ID number as your username
  • If you are a first-time customer, you will be given a form to fill in your basic information
  • Returning customers will be asked to login using their password. If you’ve forgotten your password, you can click the “forgot password” prompt
  • Follow the online application process and hold on a few minutes for Fasta Loan agents to verify your information 
  • If there are no issues with the information provided, your loan will be approved, and you are to sign the loan agreement using your e-signature
  • Your loan will be disbursed 

How to Tender Your Bank Statements for Your Fasta Loan Application 

During the online application process for Fasta Loan, you will be required to verify your means of income. Fasta only accepts bank statements as proof of income. This must be a bank-generated PDF, not a scanned copy, not a picture of the hard copy. 

Fasta provides various ways by which you can provide your bank statements to complete your application journey: 

  • Upload a downloaded copy of your bank statement in the space provided
  • Disclose your internet banking details for Fasta to have a direct view of your bank statements
  • Send your bank statements via email to the Fasta email address sent to you via SMS and/or copy the email.

Any information you provide on Fasta is encrypted and never stored. Thus, you need not worry about providing your banking information for this application process. The Fasta team has no access to make transactions from your account: they can only retrieve your bank statements. The technology is 100% secure.

How to Use Your Fasta Checkout 

As we earlier explored, Fasta Loan can come in the form of Fasta Checkout, a system that helps you pay online using a quick loan from Fasta. Here is how it works: 

  • Select Fasta Checkout as your payment option on the service provider’s website
  • Select the amount you want to lend from Fasta, and your proposed reimbursement period
  • Fasta will calculate the interest rate, if the rate is affordable, accept it 
  • Your payment will be made to the service provider. 

Also read: How Digital Marketing can Help with Business Growth in 2024

Fasta Loan Contact Number

Here you have the Fasta Loan contact number:

Fasta Loan contact number via WhatsApp: ‪+27 78 969 4082‬

Furthermore, you can reach out to them on Facebook, Instagram, and LinkedIn. Also, you can check out their website and YouTube page by clicking any of the links below.

Frequently Asked Questions 

How Long Does it Take Fasta to Process My Loan?

5–10 minutes. Your loan is processed and approved or disapproved within this period of time. If your application is made on a workday, your funds are also disbursed immediately. However, if your application is made on a weekend or public holiday, your funds will be disbursed on the next working day. Your bank service will determine how long it will take for the transaction to reflect in your account after that.

Does Fasta Require Collateral for its Loan Application?

No. Fasta loans are unsecured, meaning they do not require any asset as collateral. However, you will be required to provide proof of payment, proof of South African residency, and some other basic documents. 

Can I Pay Off My Loan Before the End of the Repayment Period?

Certainly! Fasta allows you to clear your debt upfront if you get the chance. This will, in fact, reduce the interest rate.

Fast, Easy and Secure 

Financial decisions can be hard to make. Sometimes, it’s up, other times, it’s down. 

We understand. And that’s why we provide enough expert information for you to arrive at stable and secure financial decisions. From trusted loan companies in South Africa, to wise money moves, investment schemes, and the like, we have a wide range of topics to lead you on your journey to financial happiness. We hope you are satisfied with the information we provided about the Fasta Loan, the Fasta Loan contact number, and the Fasta Loan requirements.

This is just the beginning. On this blog, there is always more. And it’s fast, easily accessible and trustworthy. 

Follow us for more on X or Twitter, @SiliconAfriTech.

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Oluwajuwon Oladiti
Oluwajuwon Oladiti

Oladiti Oluwajuwon is an ardent reader and a voracious writer who is passionate about informing the public with first-hand, authentic information. His writing expertise has spanned over 5+ years, an odyssey that began in 2018. Over the years, he has crafted pieces across multiple domains, including religion, education, politics, and tech. There are two principles at the core of his writing: information must be genuine and accurate, and there is nothing erudite about speaking in terms people don't understand. While maintaining technicality, messages must be passed in a way that resonates with the readers.

Oluwajuwon is also a software engineer who specializes in backend development with Python, and he has an unwavering passion for music, pop genre especially.

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