SASSA Loans: Online & Latest Application Methods

The South African Social Security Agency (SASSA) was established in 2005 with the aim of providing social grants and loans to those in need. The organization offers an easy way to take small loans to decrease poverty in South Africa. SASSA loans are flexible, ranging from R250 to a maximum of R1000, and can be easily repaid within one to six months. Applicants can also receive a loan in the form of a child grant.

To be eligible for a SASSA loan, applicants must be South African citizens, at least 18 years old, have a valid ID document, earn a consistent income, and have a bank account in their name. They must also receive grants from SASSA, such as Old Age Pension or Disability Grants. SASSA checks the applicant’s previous debts and debt-to-income ratio while considering their application. The loan amount is determined based on the applicant’s current source of income.

SASSA Loans via Banks

SASSA provides instant loans through a few banks, including Shoprite, Finbond, and Capitec. These loans are unsecured and have lower interest rates compared to other loans. This section provides information on how to apply for these loans and the required documents.

1. Shoprite Loans

Shoprite offers affordable unsecured loans with lower interest rates. To apply for this loan, one can visit the nearest Shoprite office. Alternatively, one can apply by adding Shoprite’s number to their contacts and sending them a message. They will ask some questions and answer them to proceed with the loan.

Documents Requirement

To apply for a Shoprite SASSA loan, one needs to provide the following documents:

• Three months’ bank statement
• Valid Identity Document
• Proof of residence
• Pay slip (salary or wage)

2. Finbond Loans

Finbond Mutual Bank offers Finbond SASSA loans, which are unsecured short-term or long-term loans. The loan amount varies from R500 to R20000, and the loan has fixed interest rates that do not change. One can repay it in a maximum of two years. To apply for a Finbond SASSA loan, the applicant’s age must be over 21 years, and they must be a South African citizen with their bank account. One can apply for this loan by filling out the application on their website.

Documents Requirement

To apply for a Finbond SASSA loan, one needs to provide the following documents:

• Valid Identity Document
• Pay slips for three months
• Bank statements for the last three months
• Valid proof of address
• Contact details (Cell phone number and email address)
• Monthly expenses documentation

3. Capitec Loans

Capitec loans offer the lowest interest rates with monthly installments, allowing up to R250000 loans. One can also get credit insurance. To apply for this loan, one can open Capitec’s official website and select ‘online’ in ‘ways to apply.’ In the end, fill out the form.

Documents Requirement

To apply for a Capitec SASSA loan, one needs to provide the following documents:

• Bank statement of the latest consecutive salary deposit.
• Personal information (ID documents, Name, surname, Marriage Certificate if married, Divorce order)
• Latest pay slip or salary proof.

In conclusion, SASSA loans via banks are a great option for people in dire need of a loan. These loans have helped many people with their financial situation. However, one should be careful while signing up for any loan, as there are various scammers scamming people in the name of SASSA.