Apply For SASSA Loans Via Cellphone [2024] – Do’s & Don’ts

If you face challenges visiting a loan provider in person due to age, disability, or other reasons, don’t worry! You can still apply for a SASSA loan using your cellphone. This guide provides a detailed explanation of all methods available, ensuring you can follow the steps easily.

Types of SASSA Loans and How to Apply

SASSA offers various loan options through different providers. Below are detailed steps for applying for each type of SASSA loan:

Moneyline SASSA Loans

To apply for Moneyline SASSA loans, follow these steps:

1. Dial the USSD Code: Start by dialing 1303737*1# from your phone.
2. Enter Your ID Number: You will receive a prompt asking for your ID number.
3. Grant Access: Press 1 to allow Moneyline access to your bank statements and credit check, initiating the loan application process.
4. Provide Your ATM PIN: For security, the prompt will ask for your ATM PIN. Consider carefully before proceeding as this gives access to sensitive information.
5. Review Loan Agreement: You will receive an SMS with the loan agreement and repayment details. Carefully read the terms and conditions.
6. Sign the Agreement: Sign the loan agreement document by replying with your full name.
7. Wait for Approval: Most applications are approved within 24 hours. If there are any pending applications, it may take longer.
8. Receive Confirmation: After approval, you’ll get an SMS confirmation, and the loan will be transferred to your bank account. If declined, you’ll receive an SMS explaining the reason for rejection.

EasyPay Loans SASSA

To apply for Net1 Easy Pay SASSA loans, follow these steps:

1. Dial the USSD Code: Dial 1203737*1# from your phone.
2. Enter Your ID Number: Select option 5 to enter your ID number.
3. Specify Loan Amount and Expenses: Input the total amount you need and your monthly expenses.
4. Review and Sign Agreement: Wait for an SMS with the loan agreement and repayment terms. Review carefully before signing.
5. Approval Process: Once you sign the agreement with your full name, wait for Easy Pay’s decision. Approvals typically take 24 hours but may take longer during busy periods.
6. Receive Funds: Upon approval, the loan amount will be transferred to your bank account, and you’ll receive an SMS confirmation. If not accepted, you will be notified of the reason.

Finbond SASSA Loans

Finbond Mutual Bank offers SASSA loans with flexible options:

1. Types of Loans: Finbond provides short-term loans for small amounts (repayable within six months) and long-term loans for larger amounts (repayable over two years).
2. Age Requirement: Applicants must be at least 21 years old.
3. Loan Amounts: Loans range from R500 to R20,000, with a fixed interest rate and no option for extension.
4. Application Process: Visit the nearest Finbond branch with the required documents or check their website for more details.

Shoprite SASSA Loans

To apply for a Shoprite SASSA loan:

1. Dial the Number: Simply dial +27600123456 and follow the voice prompts to start your loan application.
2. Answer Questions: Respond correctly to the questions asked during the voice prompts.
3. Visit the Official Website: For further instructions, visit the official SASSA website.
4. Fill Out the Form: Complete the loan application form with personal details, bank account information, proof of income, and employment details.
5. Wait for Approval: After submission, wait for SASSA to review and process your application.
6. Receive Notification: If approved, the loan amount will be deposited into your bank account, and you will receive a notification via SMS.

Capitec SASSA Loans

Capitec Bank offers loan services tailored for SASSA grant holders:

1. Loan Options: Capitec provides loans up to R250,000 with lower interest rates and flexible repayment options.
2. Application Methods:
   • Visit the Capitec website and fill out the online form.
   • Use the Capitec app on your smartphone.
   • Visit the nearest Capitec branch.
   • Call their helpline at 0860667789.

Steps for Online Application:

1. Visit Capitec’s Website: Look for the option that says “how much you could get” and click on it.
2. Provide Personal Information: Enter your personal information as required.
3. Select Loan Amount: Choose the loan amount that suits your needs.
4. Review Terms and Conditions: Carefully read and understand the terms and conditions before proceeding.
5. Submit Application: Wait for the processing time.
6. Receive Confirmation: Upon approval, the loan amount will be transferred to your bank account. If rejected, you will receive an SMS explaining the reason.

Understanding SASSA Loan Amounts

The loan amount available to SASSA beneficiaries varies by lender, income, and credit history:

• Loan Ranges: Loans can range from R250 to R25,000.
• Interest Rates: Interest rates can range from 5% to 35%, and up to 200% for long-term loans.

Loan Limits for SASSA Loans

Loan limits depend on the specific needs and circumstances of the applicant:

• Amount Based on Grant Type: Loan amounts vary based on the type of SASSA grants received.
• Interest Rates: Interest rates start at 5% and can go up to 35%, with long-term loans reaching up to 200%.

Repayment of SASSA Loans

Loan repayments are automatically deducted from your SASSA grant funds each month. Failing to repay can negatively impact your credit score, lead to legal repercussions, and limit future loan opportunities. Carefully consider your ability to repay before accepting a loan.

Drawbacks of SASSA Loans

1. High Fees: Third parties often impose high fees throughout the loan approval process.
2. Service Charges: Initiation fees may be subtracted from the borrowed amount.
3. Interest Rates: Borrowers must pay a 5% interest rate on the borrowed amount.
4. Short-Term Loans: Short-term loans can lead to financial difficulties in the long run.

How do I contact SASSA loan via WhatsApp line?

• Contacting SASSA Loan can be done through several methods:
  • Use the customer hotline listed on their main page.
  • Check available loan types through their mobile app.
  • Complete an online contact form on their website.

Conclusion

Applying for a SASSA loan via mobile phone offers a convenient solution for those unable to visit loan providers in person. By understanding the different types of SASSA loans and following the detailed application steps, beneficiaries can access the financial support they need. It is essential to carefully review loan terms, interest rates, and repayment conditions to ensure the loan suits your financial situation and capabilities. This guide aims to provide a comprehensive understanding of the SASSA loan application process, helping beneficiaries make informed decisions and secure the financial assistance they require.