Apply For SASSA Loan Via Cellphone (Online Application)

Applying for SASSA Loan via cellphone can be made even more convenient and accessible by using your cellphone. There’s no need to visit a physical location to submit paperwork, as the entire process can be completed by following the provided instructions. To qualify for the loan, you need to be enrolled for one of the SASSA grants.

Note: Remember that though it is usually referred to as SASSA loans, SASSA does not offer loans itself. SASSA Loan is the name given to loan providers who are not associated with SASSA in this article only.

SASSA Status Check – Faqs

Eligibility Criteria to get SASSA Loans via Cellphone

How can I apply for a Sassa loan using my cellphone? Certain terms and conditions determine whether you are eligible to take advantage of the SASSA loan opportunity.

To be eligible for this, you need to meet the following criteria:

Nationality: You must be a South African citizen with South African citizenship.

Residency: You must have a South African identity document and be a holder of permanent residency in the country.

Age: One has to be 18 years old or older to occupy this position.

Personal Cell Number: You should have an active mobile phone number registered under your name.

Applicant’s Account: You must have your personal bank account.

Reliable Income: A person needs a good income that comes in regularly.

SASSA Grant Recipient: You have to qualify for at least one of the valid SASSA grants which include the SRD grant, disability grant, child support grant and any other qualifying grant.

Before approving your loan, they will review your history of previous loans and bank payments. Your monthly income plays a crucial role in their decision-making process.

Documents required for SASSA Loan via cellPhone

Typically, you will need these documents to secure a Loan. Should additional documents be requested, you will need to submit them to meet the Eligibility Criteria:

ID card for identity verification

Bank statements tracing back 3 months

Proof of earnings per month

Proof of marriage status

Employment proof

Proof regarding SASSA grant receipt

Your number updated accessing you is easier through cell phone number

Address that you should keep us informed about all the time

How to Apply for SASSA Loans via CellPhone

If you are unable to visit a loan provider due to age, disability, or any other reason, don’t worry! You can still apply for the SASSA loan using your cellphone. I have provided a detailed explanation of all methods, so all you need to do is follow the steps:

Apply For Moneyline SASSA Loans

Follow these steps to apply for Money Line SASSA loans:

1. You can start by dialing from your phone this USSD code 1303737*1#.
2. You will get a message that requires you to enter your ID number.
3. To complete just press one to give Moneyline access to your bank statements as well as credit check. Then they will step into the loan application.
4. The prompt will ask for your ATM PIN. For security purposes, please provide your PIN. (Take a moment to consider before applying for a loan, as they will have access to all your sensitive information).
5. You will receive an SMS containing the loan agreement and repayment details. Take the time to carefully read the terms and conditions before signing the agreement.
6. Sign the loan agreement document and respond with your full name.
7. Now, you’ll need to wait for Moneyline’s decision. Most loan applications are approved within 24 hours, but it may take longer if there are many pending applications.

After approval, you’ll get an SMS confirming it, and the loan will be transferred to your bank account. If it’s declined, you’ll receive an SMS explaining the reason for rejection.

How to Apply For EasyPay Loans SASSA

You can apply for Net1 Easy Pay SASSA loan application, by following these steps:

To apply for a loan, dial *120*3737*1# from your phone.

Next, choose option 5 to enter your ID number.

Input the total amount you need and your monthly expenses.

Wait for an SMS with the loan agreement and repayment terms.

Review the agreement carefully before signing.

Once you agree, sign the document with your full name. Now, wait for the Easy Pay decision.

Loan approvals usually take 24 hours, but it may be longer during busy periods.

Once your loan application is approved, the loan amount will be transferred to your bank account, and you will receive an SMS confirmation on your phone. In case your application is not accepted, you will be sent a text message that tells you exactly why it was rejected.

How to Apply For Finbond SASSA Loan

Finbond Mutual Bank provides SASSA loans, offering flexible loan options in two different terms:

Loan types: Short-term loans are offered for small amounts and must be repaid within six months, while long-term loans involve larger sums and have a repayment period of up to two years.

Age limit: To qualify for these loans, applicants need to be at least 21 years old.

Loan amount: The loan amounts range from R500 to R20000, with a fixed interest rate and no option for extension.

Make sure you check out their site or head on down to the nearest shop and make best use of the opportunities to obtain this type of loan if interested. Don’t forget to carry with you all the documents that were previously required.

How to Apply For Shoprite SASSA Loan

Simply dial it +27600123456 and send a message. On getting to this point, they will lead you through voice prompts and some questions will be asked on your SASSA loan application at Shoprite. Respond to them correctly if you want to proceed in the loan request process. Furthermore you can visit our site if need be for any sort of a loan. Shoprite presents cheap loans that are open to everybody. These loans have lower interest rates as compared to others. Just follow the instructions provided:

1. In order to request a loan, you must access the official SASSA website.

2. Once on the website, locate the loan application form.

3. The loan application form will prompt you to provide personal details, bank account information, proof of income, and details about your employment.

4. After completing the form with all the necessary information, you will need to patiently wait for approval.

5. SASSA will carefully review and process your application to determine if you qualify for the loan.

6. If your application is approved, the loan amount will be deposited directly into your bank account, and you will also receive a notification via SMS. Additionally, you can opt to collect the funds from the nearest store that offers loan services.

How to Apply For Capitec SASSA Loan

Capitec Bank, a widely recognized financial institution in South Africa, provides loan services specifically tailored for SASSA grant holders. The Capitec SASSA Loan carries lower interest for loans. It’s convenient, affordable and you can borrow up to R250,000. The loan option assuredly does not affect your monthly budget. Nevertheless, you may choose to repay in installments.

To some, this loan may seem difficult, however fear not, for I will guide you through applying for a Capitec SASSA loan, and tell you what is needed. The application process for this loan has several options one can follow.

Submit your application by visiting their website and filling out the online form.

Apply using the official Capitec app, which can be downloaded on your smartphone.

Visit the nearest branch of Capitec bank and speak to a representative in person.

Feel free to call their helpline number at 0860667789 and a friendly customer service agent.

Follow steps for Online Application

1. Simply go to Capitec’s website. Look for the option that says ‘how much you could get’ and click on it.
2. Once you’re on the page, you’ll be prompted to provide your personal information as required.
3. The next step is to select the loan amount that suits your needs.
4. Carefully read and understand all the terms and conditions before proceeding with your application.
5. After you’ve submitted your application, all you have to do is wait patiently during the processing time.

After approval of your loan application, the loan amount will be transferred directly to your bank account. Also, a confirmation message will be sent to you soon after that will inform you about your application’s status. However, if your application is unfortunately rejected, SASSA will ensure that you receive an SMS providing you with a detailed explanation for the rejection.

How much is SASSA loan amount

The loan amount available to SASSA beneficiaries can vary depending on the private lender chosen, as well as the individual’s income and credit history. Some lenders may provide loans ranging from R250 to R1000, while others may offer up to R25,000 for those with good credit and a stable income.

Examine their official websites or resources before submitting a loan application. Most loans come with high monthly fees and interest rates that can range from 5% to 35%, and in certain cases, even up to 200%.

Understanding the specific terms and conditions, including interest rates and fees, associated with each loan offer is essential to determine if it is a suitable option for you. Failing to do so may result in accumulating high debts that could be challenging to repay.

how much is limit for the SASSA loan

Loan limitations vary based on the specific needs of the applicant. It’s important to understand that these limitations can differ depending on individual requirements. So, let’s delve into the specifics and explore further details about the limitations associated with loans.

Loan Amount

The loan amount you can receive depends on the specific grant you are applying for. Certain banks may offer loans ranging from R250 to R1,000, while others may provide up to R25,000 if you have a reliable source of income. The loan amounts are also influenced by the interest rate you will need to pay.

Typically, the interest rate starts at 5% and can go up to 35%. However, it’s important to note that for long-term loans, the interest rate may reach as high as 200%. Therefore, I strongly advise you to carefully review all the terms and conditions before finalizing any loan agreement.

According to grant loan limit

The maximum loan amount that individuals can apply for varies depending on the type of SASSA grants they receive. It is important for applicants to carefully examine the specific details of their desired grant to determine the highest loan limit they may qualify for.

repayment for SASSA loans

Repayment of the loan will be processed automatically from your SASSA grant funds, with deductions made each month upon receipt of your social grant payment. It is crucial to understand that failing to repay the loan could lead to negative outcomes, including a negative impact on your credit score, legal repercussions, and potential limitations on future loan opportunities. Therefore, it is essential to carefully consider your ability to repay the loan before accepting it.

Reapply for SASSA

Check SASSA payment dates

What are cons for SASSA loans

1. One drawback arises due to the involvement of third parties, who tend to impose high fees throughout the loan approval process, including various Service Charges.
2. These third parties may even subtract initiation fees directly from the borrowed amount, further reducing the funds available to the borrower.
3. In addition to the initial fees, borrowers are also required to pay a 5% interest rate on the amount borrowed.
4. Based on my personal experience, I advise against applying for short-term loans, as they often lead to more financial difficulties for individuals in the long run.

Frequently Asked Questions