Fasta

FASTA eligibility and required documents

Applicants must be at least 18, hold a valid SA ID and have their own South African bank account, mobile number and email address. FASTA assesses income, existing commitments and affordability.

The application FAQ specifies a monthly salary of at least R6,000 for the preceding three months and three months’ bank statements. Its short-term loan page also includes permanent residents, self-employed applicants and pensioners. Confirm acceptance of your income type before relying on that broader eligibility statement.

Statement submission options depend on your bank; uploaded statements must be bank-generated PDFs. The application also includes a camera-based Face ID check.

When a FASTA payday loan may suit you

FASTA may suit someone facing a necessary, one-off expense who can repay from an identifiable surplus after essentials and existing debt. The useful test is whether the repayment leaves enough money to reach the following payday without borrowing again.

Reconsider if the loan would repeatedly fund groceries, rent or another lender’s instalment. Compare an employer salary advance or an agreed payment arrangement first. For borrowing over several months, compare the complete repayment amount with other short-term loan options. If existing debts are already unaffordable, consider debt counselling before adding credit.

How the FASTA application works

Application and acceptance

Access FASTA through its official website or this page’s FASTA referral link. Choose FASTACash, select an amount and term, and complete the requested details and verification. Review the pre-agreement quotation and repayment schedule before accepting. All requested DebiCheck mandates must be authorised before payout.

Read the privacy policy before submitting information. It permits sharing with credit bureaus, service providers and certain partners, and describes marketing consent and opt-out arrangements.

Decision and payout timing

FASTA advertises applications around the clock, decisions in minutes and rapid payment after approval. These are provider claims, not a confirmed deadline for an individual application. Leave time for verification or payment delays when an expense has a fixed due date.

Repayment support and complaints

For repayment difficulty, contact collections@fasta.co.za. Log service complaints through Support on the FASTA website. Keep the complaint reference and correspondence.

After raising the matter with FASTA, unresolved disputes can be referred to the National Financial Ombud Scheme on 0860 800 900, subject to its jurisdiction. Credit-regulation complaints can be directed to the NCR at complaints@ncr.org.za or 0860 627 627.

Questions to ask before accepting FASTA credit

• What cash amount reaches my account, and what is the total repayment including VAT, fees and insurance?
• Which interest rate applies to this amount and term, is it monthly or annual, and can it change?
• What are the exact debit dates, and what charges or collection steps follow a missed payment?
• Which insurance benefits apply to my employment status, what exclusions affect me, and can acceptable existing cover be substituted?
• How much would I save by choosing a shorter term or settling early?

FASTA advantages and limitations

• Direct cash access: FASTACash deposits funds into a bank account, so spending is not restricted to a particular retailer.
• Repayment choice: Several monthly instalments may make a necessary expense manageable without placing the entire repayment on one payday.
• Cost pressure: Monthly interest, account fees and insurance can make a small advance expensive relative to the amount received.
• Disclosure inconsistencies: Different published rates, initiation fees and income criteria make the personalised quotation particularly important.
• Budget risk: Extending repayment reduces the immediate instalment but commits part of later income and can increase total charges.

FASTA interest, fees and compulsory insurance

Interest is only one part of the cost

The calculator disclosure distinguishes monthly pricing for loans up to R7,100 from annual pricing above that amount. Its 27.75% annual maximum conflicts with the 28.75% used in the published example. Neither figure should be treated as your confirmed offer. APR expresses borrowing costs annually and should not be confused with the monthly interest rate.

Initiation and service fees

The FAQ describes an initiation fee of 10% of the loan plus VAT, capped at R1,059 before VAT. However, its R3,300 calculator display shows R454, whereas that formula produces R379.50. The disclosures therefore do not establish one consistent fee calculation. Obtain the exact VAT-inclusive charge in writing. The monthly service fee is R69, with the calculator indicating first-month proration.

Required insurance and exclusions

FASTA requires credit insurance for the outstanding loan obligations. Its CPI information identifies African Unity Life as the insurer; the premium must be included when comparing offers.

The linked policy provides benefits for specified death, disability and income-loss events, subject to conditions. Exclusions include resignation, voluntary retrenchment and lawful dismissal. Pre-existing medical conditions can be excluded under the stated conditions, while pensioners do not receive retrenchment or temporary-disability benefits. Insurance does not cover every reason a borrower might struggle to pay.

FASTA’s published repayment example

FASTA’s official example shows R15,000 over six months at a prime-linked annual interest rate of 28.75%, an initiation fee of R1,207.50, a R69 monthly service fee and insurance of R68.48 per month. It states a total repayment of R18,418.25 and a maximum APR of 123%.

The calculated difference between the stated total and the cash advanced is R3,418.25. These are published example figures, not a personalised quotation. The example concerns six-month borrowing, and its annual rate differs from the calculator disclosure. Confirm the itemised costs and dated repayment schedule for your actual offer.

Is FASTA worth considering for a payday cash gap?

Our assessment is that FASTACash’s strongest feature is the combination of direct bank payment and a choice of repayment periods. Its main limitation is the difficulty of establishing a consistent cost from the public disclosures alone. Compare written offers for the same cash amount and repayment period, then choose a repayment you can sustain without another loan. Speed has value only if the resulting commitment fits your budget.

FASTA payday loan questions

Must I repay everything on my next payday?

No. FASTACash advertises repayment over one to six months, subject to approval. This makes it worth comparing with both single-payment payday loans and short-term instalment loans. Compare the date you become debt-free as well as the first repayment: spreading an expense across several paydays commits income beyond the immediate cash shortage.

How can I tell whether FASTA is cheaper than another payday lender?

Request quotations for the same cash amount, payout date and repayment period. FASTA’s calculator uses monthly interest for smaller loans and annual interest above R7,100, so comparing the percentages directly can mislead. Its published annual-rate disclosures also differ. When comparing other payday loans, use the quoted total repayment, including initiation fees, service fees and insurance; see the pricing discrepancies explained above.

Do returning FASTA customers pay less interest?

The calculator disclosure states 5% monthly for first loans up to R7,100 and 3% monthly for subsequent loans. Confirm the rate offered to you. A lower repeat-loan rate does not establish that repeated borrowing is cheaper overall: check each new quotation for initiation fees and other charges that could outweigh the interest saving.

Will FASTA approve me if my income meets its minimum but my credit record is poor?

Meeting the FAQ’s R6,000 monthly salary requirement for the preceding three months does not establish approval. FASTA checks credit history and affordability. Income alone does not show how much remains after existing commitments, so treat the advertised maximum as a product limit rather than an indication of what you will qualify for.

Must I use FASTA’s credit protection insurance?

FASTA requires credit insurance but permits alternative cover with equivalent benefits. Its FAQ requests proof within five working days of payout to remove its cover and credit the CPI charge; it also permits later substitution subject to proof and equivalent benefits. Compare premiums, exclusions and the effective replacement date before switching.

Can I repay FASTA early, and how do I check the saving?

Yes. Generate a settlement letter under My loans; the displayed balance may omit current service fees. Compare the settlement amount with the sum of your remaining scheduled repayments. The difference shows the saving quoted for that settlement date. Ask for an itemised explanation if the saving is smaller than expected.

Is taking six months and settling early better than choosing a shorter term?

Do not assume the two arrangements cost the same. FASTA publishes a R69 monthly service fee, alongside interest and insurance. A longer agreement may provide a smaller required instalment, but the eventual cost depends on when you settle and which charges remain payable. If you expect money soon, compare the shorter-term quotation with a written explanation of settlement costs under the longer option.

Can I move my FASTA repayment date if my salary arrives late?

FASTA’s FAQ says payment dates cannot currently be changed. It also says collection may occur earlier when bank statements indicate an earlier salary date. This matters when comparing repayment flexibility between providers. If you anticipate a problem, contact collections@fasta.co.za before the debit and request written confirmation of any arrangement.

Can FASTA pay out on weekends, and is support available then?

FASTA advertises 24/7 applications and payouts, including weekends and public holidays, subject to approval and DebiCheck authorisation. Human support has narrower hours: weekdays 08:00–17:00 and Saturdays 08:00–12:00, excluding public holidays. For an urgent expense, distinguish automated payout availability from the availability of someone to resolve an application problem.