Loan in the company Fasta

Access the right loan with Fasta loans

Established in 2007, Fasta (Pty) Ltd offers financial assistance digitally. The company offers instant credits. The company operates under the rules laid down by the National Credit Act (NCA), registered under the registration number, NCRCP10591.

The company strives for creating lasting relationships providing high-level transparency in offering credit services. Fasta undertakes a thorough evaluation of your financial situation and history and grants a loan that fully suits it.

The loan application is easy as an approval only takes a few minutes. The lender doesn't check out what you use the loan for. The repayment is flexible as you can service the loan in up to 3 installments.

Security & Service

The financial company is registered and regulated by NCR under the license number NCRCP10591. This means that their loans are not meant to cause the consumer any financial distress. One also is given a unique ID and a secret password to ensure that their information is safe.

The lender doesn’t allow changing the payment dates. However, you can inform a lender about your inability to pay the debt off and he will try to figure everything out.

It’s a self-service and anyone can apply for an advance. All you need is an Internet connection and time to fill in the required information.

Fasta: My account

To access the services, one is required to have a personal account. To have a Fasta profile a one-time fee must be paid. The lender quotes the amount in the installment as a Fasta charges 10% based on the value of the loan and an additional 15% VAT. Other charges include a monthly service fee, which covers the maintenance and administration of your account.

Your account will help keep track of your spendings and the amount of debt you need to pay off.

Loan terms

Fasta offers instant credits through three ways: a card, in cash, and a checkout. With the first option, the amount is loaded into your virtual card. One can use this loan amount in any place, where Mastercard is accepted. The second option means that the amount is loaded into the bank account that you give when creating your account. Regarding the checkout method, the loan is applied when checking out your cart. This is only applicable to online stores that support this option.

To apply for a loan, visit their official website www.fasta.co.za, and adjust the slider to the amount that you desire. You can repay your loan in up to 3 installments. You will get the amount expected per installment and the full amount required as the Fasta payment.

You can get loans ranging from R 500to R 8000, according to your credit score. You can get a loan with interest rates ranging from 0.01% interest to 5%. The interest varies with the amount you borrow; you can calculate this using the calculator they have provided on their site. Fasta gives loans that are payable in 30 to 90 d.

To apply for a loan, you are required to have:

• A valid South African ID
• 18 years and above
• A valid bank account under your name
• Provide the latest 3 months bank statement

Credit history check

Fasta closely evaluates your financial power and the ability to service their loan. They are dedicated to deciding whether you are in a position to repay your loan. They check your credit history by using credit bureaus such as Compuscan. It is advisable to keep a close track on your credit score and ensure that it is positive so that it doesn’t bar you from accessing finances.

How to apply for a loan

Registering for an account is trivial as anyone can do it on the official website. You’ll need to provide basic identification information to open a Fasta account, as well as personal details. This includes:

1. Fast and last name
2. ID number
3. Latest 3 months bank statements

Upon confirmation of your details, you are prompted to add your bank statements and your account will be active.

You are required to set up a unique username and password. You will use it for Fasta login.

Since their loan process is automated, it takes under 5 minutes to get approval and receive your funds.

Are there no interest loans?

At the moment, Fasta doesn’t have no-interest loans. However, their loans are well displayed and there are no hidden charges. The amount you repay is not as much as in some banks that have hefty interest charges. So, you can expect for indeed affordable loans. The terms are also flexible as the lender doesn’t check what you do with money.

Review of Fasta loans

The financial lender is known to have efficient customer support. You can send them a query in real-time or make a phone call. Their rates are also affordable and you can get a loan for as low as R 500. It is easy to apply for a loan and the amounts are released in less than 5 minutes.

The ability to receive loans in different forms is also a plus for all clients.

Pros and Cons

Pros:

• Fast loan approval time, less than 5 minutes
• No hidden charges – the calculator on the website will show the final cost of the loan
• No paperwork needed as their loan process is automated

Cons

• The most you can get from them is R 8000, which might not be enough
• Only available for people with a South African national ID, hence not available for foreigners in the country

Fasta contact information

Phone numbers: 087 470 0400

Email: Support@fasta.co.za

Address: Suite 307 Sovereign Quay, 40 Somerset Road, Green Point, 8005

You can also follow and engage them through their social media pages on YouTube, Facebook, and LinkedIn.

Working hours: Their process is automated, so you can apply for a loan at any time. In case of any query, contact them using their email or phone numbers.