It is a known fact that FASTA is the most popular lender in South Africa that specializes in giving short-term loans anywhere between R1000 and R8000 with flexible repayment plans. This loan scheme has a straightforward application process and a lesser interest rate. Not only this, it has a loan calculator that allows you to tailor the amount and repays accordingly.
The top 4 Loans Providing Services like FASTA are
If, for any reason, you do not justify the eligibility for this loan, do not worry. I have brought together a list of loans like FASTA, so you can enjoy similar perks with different loan programs. So, get all the necessary information about these loans and choose the one that suits your needs.
1. Capfin Loans
Capfin Loans are by far the most popular among South African citizens after FASTA. It allows employees to get short-term loans between R2000 and R8000 to cover additional expenses of any sort. The thing that makes it incredibly famous is the flexible repayment plans that span over six and twelve months and are calculated by the Capfin loan calculator.
Eligibility Criteria of Capfin Loans
- To be eligible for the Capfin loans, the following are some must-have conditions.
- The candidate must have a valid national ID card to verify their citizenship.
- They will be asked to submit a record of the latest three payslips and bank statements.
- They must have a working bank account. In the application, the candidates will be asked to give verified banking details.
- The candidate must be 18 years old or older.
- They must have a cell phone.
The repayment plan of Capfin loans spans over either six months or twelve months. They have a dedicated loan calculator to tailor these plans according to your requirements. It required the beneficiaries to pay a maximum of 5.0% pm and 26.50% pa, respectively, along with an R69 service fee.
Contact for Further Queries
Please visit the official Capfin loans website to get more information and apply for this loan. For further queries, contact customer care at the following.
- Phone Number: 087 354 0000
- Email: [email protected]
2. Unifi Loans
The second loan scheme on my list of the loans like Fasta, is the Unifi online loan program, specifically designed for blacklisted people. So, if you do not qualify for traditional loan applications, this program may suit your conditions perfectly. All you need for this scheme is a good credit score along with a record of pay slips.
The best part about all Unifi loans is that they have a same-day approval mechanism. And you can do the entire application online without any hassle. Finally, these loans are short-term (up to R8000) and require you to repay the amount within three installations.
Eligibility Criteria for Unifi Loans
To be eligible for the Unifi online loans, you must fulfill the following conditions.
- You must have South African nationality.
- It is a must for all candidates to have some sort of job with a monthly salary.
- To apply for this loan scheme, you are required to set up a profile; it will act as a verifier.
- The candidates will be asked to submit their personal details.
- They will also be required to provide their verified banking details.
- The evaluation committee will also do a credit check.
- The candidates will be asked to provide a detail of their income and expenses.
- They will also submit proof of employment. This will verify your credibility as a beneficiary of this loan scheme.
This loan has a 3% interest rate, which makes it the cheapest option in the country. The repayments are collected through a debit order online, and you will be asked to pay extra in case the account doesn’t have sufficient balance for a repayment fee.
Contact for Further Queries
For further information regarding the Unifi online loans, you can visit their official website. In case you still have queries, consult the following.
- For customer care: +27 21 110 0600
- For loan inquiries: [email protected]
3. Wonga Loans
Wonga is a well-reputed finance company based in South Africa that provides flexible, short loans to cover additional expenses. They are preferred by people because of the fast application process and flexible repayments. Similarly, the good thing about the loan program is that it doesn’t require lengthy paperwork.
This loan scheme covers loans anywhere between R4000 and R8000 within a time of either three or six months. Likewise, the company also has customizable loan calculators that give you a detailed analysis of the loan amount, borrowed amount, repayment fees, and interest.
Eligibility Criteria for Wonga Loans
To be eligible for the short-term Wonga Loans, you must fulfill the following requirements.
- The candidates applying should have South African citizenship.
- The candidates must be 18 years or older with an operational bank account. This will help the authorities to monitor the entire application and repayment process.
- You must have a compatible credit score. Please consider that, during the application evaluation, your score will be checked.
- During the application process, you will be required to submit national ID numbers, banking details, a registered mobile phone, and a record of all the latest payslips.
You are required to repay the fees within either three or six months. For this, Wonga has its own loan calculator that allows you to customize the entire plan accordingly. It allows you to allocate the days or months for repayments or paybacks you feel comfortable with.
The repayments are collected automatically through a debit order within the due date. In case the bank account doesn’t have sufficient balance, they will be additionally charged.
- Do consider that late repayments will add to the cost, and it may negatively affect your credit scores.
Contact for Further Queries
To get information regarding these short-term loans, you may check the Wonga Loans official website. You can also contact them through the following in case of any queries.
- Phone number for customer care: 0861 966 421
- For information: [email protected]
- For registering frauds: [email protected]
- For repayments: [email protected]
4. Cobol Loans
The Cobol Loan scheme is yet another short-term scheme that allows you to avail small amounts up between R2000 and R8000. The best part about this program is that it requires you to repay the loan within six months, which is pretty flexible. Similarly, this loan is applicable to any person who is employed.
- Cobol Loans are now compatible with Unifi credit, so beneficiaries of this program can get access to these loans through online banking.
Eligibility Criteria for Cobol Loans
To be eligible for this short-term loan from Unifi, you must have the following.
- You should have South African citizenship.
- A cell phone for verification purposes. This will further help you keep yourself updated through the entire application process.
- The candidate applying for this loan should be employed and must have a record of his monthly salary.
- The candidate should have a bank account so the authorities have a credible way to send money and keep a record of it. This loan is currently being monitored by ABSA, Standard Bank, Capitec Bank, African Bank, Nedbank, and FNB.
- For application, you are required to provide a bank statement and employment letter.
Interest Rate of the Loan
The repayment method for this loan scheme is approximately six months, and each fee is VAT included with a 3% interest rate. The beneficiaries of this loan are required to pay a minimum APR of 104% and a maximum APR of 212%. They also have the freedom to choose a repayment period within these six months.
Contact for Further Queries
To apply for Cobol loans, you can contact the lender’s official website. Or, you can get your queries answered by contacting them at
- Phone Number: 021 11 00 600
- Email Address: [email protected]
What is the easiest loan to apply for?
FASTA, Capfin, and Unifi loans are some of the easiest loans you can apply for, all thanks to their straightforward online application mechanism. All you need to do is fill in the details and submit the required documents to get same-day approval.
How much does the Cobol loan cover?
Under the Cobol loan, you can avail of a short-term loan anywhere between R2000 and R8000.
What is the minimum Capfin loan?
The minimum loan amount Capfin offers is R8000 or less, with a repayment period of six months. Please consider that this loan doesn’t include Credit Life insurance.
The paperwork and employment requirements of FASTA can be a little burdensome for some people. And this is why you must look for similar alternatives from other lenders. And while you are doing so, it is ideal to check the repayment plans and interest rates for each of these.
I hope you have found this list helpful in figuring out which deal is best suited for you.