Loans – Loan Lenders For Personal Loans & Financial Assistance

Loans for People Under Debt Review

Max — Sat, 10 Aug 2024 08:28:00 +0000

Under Debt Review and Need a Loan Urgently?

Loans for Debt Review Clients: Understanding the Challenges and Solutions

When you’re under debt review and need a loan urgently in Gauteng, or elsewhere in South Africa, it’s not easy to get loans granted.

In fact loans for debt review clients will only be possible by applying with lenders who aren’t registered with the National Credit Regulator (NCR).

So you just want to know where to get a R5000 loan even if u under debt review?

The truth about getting loans for debt review clients is that it’s not only impossible through reputable channels but it’s also prohibited in terms of the National Credit Act (NCA) in South Africa.

Therefore, even if you’re under debt review and need a loan urgently, you will not legally be able to secure a loan or additional credit.

However, once you have completed the debt review process and obtained a clearance certificate, you are no longer under debt review and you will be free to legally secure loans and additional credit again.

Furthermore, if you’re wondering “where to get a R5000 loan even if u under debt review” granting this kind of loan still won’t be granted to debt review clients.

Even pay day loans for debt review clients are prohibited.

Reasons Why Loans for Debt Review Clients Are Not Allowed

Here are some of the reasons why loans for people under debt review are prohibited from being granted;

The National Credit Act prohibits financial institutions from offering loans to individuals under debt review.
Although you may not realise it when you urgently need a loan, this regulation protects you and the lenders by ensuring responsible lending practices so you don’t get deeper into debt.
When you’re under debt review, you’re actively managing and consolidating existing debts.
Imagine getting additional loans while under debt review, your financial situation would worsen and most likely lead to deeper debt making your life miserable.
Even consolidation loans for debt review clients are off the table and do not play any part in the debt review process.

5 Easy Ways for Debt Review Clients to Get Money

While loans for debt review clients are off the table there other solutions that you can generate some extra money from to alleviate your financial hardship during the debt review process.

Apply for a SASSA Grant:
As one of the many debt review clients in South Africa, you are allowed to apply and get social grant payments as long as you meet the eligibility criteria set by the South African Social Security Agency (SASSA).

You can also apply for the R350 SRD Grant.
Sell Unused Items:
Declutter your belongings and consider selling unwanted items online through platforms like Gumtree, Facebook Marketplace, or local classifieds.
This can be a quick way to generate some extra cash while decluttering your space.
Freelance or Piece Work:
Explore freelance, side hustles, or piece job opportunities that offer flexible schedules and remote work possibilities.
Platforms like Upwork, Fiverr, or Freelancer.com offer a variety of remote projects that can be done in your spare time.
Develop and Sell Crafts or Skills:
If you have a creative skill or talent, consider selling handmade crafts, artwork, or offering personalized services on online marketplaces like Etsy or through social media platforms.
Become an Online Tutor:
If you have expertise or good knowledge in a specific subject, offer online tutoring services to students.
Platforms like TutorMe or Chegg connect tutors with students seeking academic support.

Remember, to always be transparent with your debt counsellor:
Regardless of your chosen income-generating activity, always be open and transparent with your debt counsellor.

They can ensure that your choice to earn extra money complies with the debt review regulations and doesn’t jeopardise your progress.

So despite loans for people under debt review being prohibited, you do have some really good options to earn some extra money to make ends meet.

Coping with Financial Challenges During Debt Review

Managing your finances under debt review can be challenging, but here are some coping strategies.

Create a realistic budget:
Track your income and expenses to identify areas where you can cut back.
Prioritize essential needs:
Focus on essential expenses like housing, food, and utilities while managing other expenses creatively.
Communicate openly:
Be transparent with family and friends about your financial situation and don’t spend money trying to impress people.
Seek emotional support:
Struggling for money to get by every month is emotionally draining and depressing.
Therefore, talking to trusted individuals or seeking professional counselling can help manage stress and anxiety.
Payday loans for debt review clients:
Do not be tempted to look at payday loans as they are also prohibited for debt review clients.
Furthermore, do not fall into the trap of looking for debt relief in the form of getting credit from loan sharks.
They’ll make your life a misery and make debt review seem like a walk in the park compared to the hell they’ll put you through.

Please seek emotional support (above) or reach out to one of the organisations below for assistance.

Understanding Your Options During Debt Review

While being unable to apply for loans while under review may seem unfair during financial hardship, remember that debt review is a temporary measure to help you regain financial control.

Here are some alternative solutions to consider:

Contact Your Debt Counsellor Immediately:
Debt review clients have a personal debt counsellor whom than can reach out to for guidance and counselling.
See below, what your debt counsellor can do for you.

They’re also there to discuss available options and help you understand the implications of seeking additional credit while under debt review.
Negotiate existing loan repayments:
Contact your creditors and discuss extending repayment terms or lowering interest rates within the debt review plan.

You can probably do this with the help of your debt counsellor.
Seek financial counseling:
Professional guidance can help you manage your budget, prioritize debts, and explore alternative avenues for financial stability.
Explore government support programs:
Depending on your circumstances, you might be eligible for government support programs offering financial assistance and resources.

How Long Does Debt Review Last

How long debt review takes in South Africa depends on various factors, but it usually takes 3 to 5 years for most people under debt review to complete the program.

While there’s no exact time frame to determine how long debt review lasts, here’s a breakdown of the factors that can affect how long it takes:

1. Total Debt Amount:
The larger your total debt, the longer it will take to repay it through the consolidated monthly payments in the debt review plan.

2. Affordable Repayment Amount:
The amount you can realistically pay towards your debt each month significantly impacts the time it will take to become debt-free.

Higher affordable repayments lead to a shorter completion period.

3. Negotiating Terms:
The negotiation process with creditors impacts your repayment terms, such as interest rates and repayment period.

Favorable negotiation results can potentially shorten the overall debt review duration.

4. Adherence to the Plan:
Consistent adherence to the agreed-upon monthly payments is crucial.

Missing payments can lengthen the program due to potential penalties or adjustments to the repayment plan.

5. Unforeseen Circumstances:
Unexpected events like job loss or medical emergencies might require adjustments to the repayment plan, potentially impacting the overall duration.

Therefore, the 3 to 5 year timeframe for how long you stay under debt review is just a general guideline.

However, you must remember that how long your debt review lasts can be shorter or longer depending on your specific circumstances and commitment to the program.

Here are some additional points to consider:

Consulting your Debt Counselor:
They can provide a more personalized estimate of your debt review duration based on your current financial situation and the negotiated terms with your creditors.
Focus on Completion:
Completing the debt review program successfully can significantly reduce how long you stay under debt review and improve your financial stability and credit score in the long run.

Being Under Debt Review Will Come to an End

Remember, debt review is a process, not a permanent state.

And it’s there to help you get out of debt and live a normal life where you can get credit to buy things like appliances, a car, or even a house.

Therefore, by using available resources, staying committed to your plan, and practicing responsible financial management, you can successfully navigate this period and achieve financial stability in the long run.

You will get through this successfully as long as you do not lapse into getting loans from dubious lenders who can make your life a misery.

How to Get Debt Review Clearance Certificate

Getting your debt review clearance certificate in South Africa involves completing the following steps:

1. Fulfill Your Debt Review Obligations:

This is the essential step, requiring you to make all your monthly debt review payments in full and on time throughout the agreed-upon program duration.
Ensure all fees associated with the debt review process are settled.

2. Communication with Debt Counselor:

Once you’ve completed all your obligations, communicate with your registered debt counselor to initiate the clearance certificate process.
They will verify your completion and gather the necessary documentation.

3. Processing by Debt Counselor:

Your debt counselor will prepare and submit the clearance certificate to all relevant credit bureaus in South Africa.

4. Credit Bureau Updates:

The credit bureaus will update your credit report to reflect your completion of the debt review and remove the “debt review” flag.

This process can take several weeks depending on the individual bureau’s procedures.

Additional Considerations:

How long does it take to get a clearance certificate:

While there’s no guaranteed timeframe, receiving your clearance certificate can take several weeks to a few months due to processing by both the debt counselor and credit bureaus.
Patience:

Be patient and allow time for the administrative process to complete.
Communication:

Maintain contact with your debt counselor for updates and any required actions.
Independent Verification:

After a reasonable wait, consider contacting credit bureaus directly to verify the update of your credit report.

Remember, getting your clearance certificate signifies the completion of your debt review program and it’s an important step towards rebuilding your financial well-being.

Debt Review Success Stories

If you’re feeling overwhelmed by being under debt review, these success stories of normal South Africans who have successfully completed the review process will give you hope.

Success Story 1: Thandi Shares her Story to Break the Shame of Being Trapped in Debt

Thandi, a single mother of two young children in Soweto, found herself drowning in debt after a series of unfortunate events.

With limited income and mounting expenses, she felt hopeless.

After struggling for months on her own, Thandi’s sister suggested debt review – a process Thandi had heard negative things about.

Desperate, she reluctantly contacted a registered debt counselor.

The process wasn’t easy.

Thandi faced additional challenges due to her community’s reliance on informal lending practices.

Budgeting every cent and learning to live within her means required major adjustments.

However, with her counselor’s support and her family’s encouragement, Thandi persevered through feelings of shame and the stigma that followed.

Three years later, Thandi received her clearance certificate.

You can just imagine the relief she felt after that huge weight was lifted from her shoulders.

Not only was she debt-free, but she had empowered herself with financial knowledge.

Today, Thandi shares her story to break the shame of constantly being in debt and struggling to make ends meet and offers guidance to others in her community.

Success Story 2: Sipho, a Young Entrepreneur from Alexandra Township

Sipho saw his dreams of making it big in business fading away as he got deeper and deeper into debt.

After a bad investment, the community that believed in him started to doubt whether he was clever enough to run a successful business.

Sipho began to feel the pressure to succeed, not only for himself but also for those who had placed their faith in him.

Besides, his business desperately needed money to survive and going under was just not an option for Sipho.

Can you imagine the shame and humiliation he would’ve felt, not to mention not having money to live on either?

But despite the shame and fear of failure, Sipho confided in a mentor, who encouraged him to seek professional help.

With guidance from a debt counselor, Sipho enrolled in the debt review program.

Negotiating with creditors was challenging, but Sipho used the little business acumen he had to explore additional income streams.

And then, after four years, Sipho walked out of the debt counsellor’s office with his debt review clearance certificate.

Now, with financial responsibility woven into his business model, Sipho is a role model in his community.

He advocates for financial literacy and helps fellow entrepreneurs build resilient businesses rooted in sound financial practices.

Success Story 3: The Overwhelmed Family

The Mazibuko family, living in a township near Cape Town, found themselves overwhelmed by rising costs and debt from unforeseen expenses.

Both parents worked tirelessly, but their income couldn’t keep up with payments and the stress of drowning in debt that mounted each month.

Concerned about their children’s futures, they visited a financial advisor in their community who referred them to a debt counselor.

While apprehensive at first, the debt counsellor helped them understand the potential benefits of debt review in breaking the downward spiral of debt and financial hardship.

The review process required huge sacrifices, but with patience and unwavering support from one another, they learned to budget, reduce unnecessary spending, and prioritize financial well-being.

After five years, the Mazibukos received their clearance certificate.

They faced challenges rooted in systemic issues and struggled with the stigma of financial difficulty, but their commitment and perseverance paid off.

Today, they are financially independent, debt-free, and confident in creating a secure future for their children.

What Your Debt Counsellor Can do for You During Debt Review

You might think that your debt counsellor has the power to arrange consolidation loans for debt review clients, but they’re legally prohibited from arranging any additional credit for their clients.

This conforms with the National Credit Act, which protects lenders and debt review clients by ensuring responsible lending practices.

However, this is what your debt counsellor can do for you;

Instead of consolidation loans, registered debt counselors in South Africa are equipped to offer the following services:

Debt assessment:
They analyze your financial situation and assess your eligibility for debt review.
Negotiation with creditors:
They have the authority to work for you to secure lower interest rates and extended repayment terms with your creditors.

This consolidates all your existing debts into a single, more manageable monthly payment without taking out a consolidation loan.
Budgeting and financial literacy:
They provide guidance on budgeting, managing finances responsibly, and avoiding future financial difficulties.
Support and guidance:
They offer ongoing support and advice throughout the debt review journey, helping you navigate challenges and achieve financial well-being.

Alternatives to Consolidation Loans for Debt Review Clients

As you can see above, a good debt counsellor can play an important role in making your debt review easier and less of a struggle.

Just imagine negotiating with all your creditors, yourself, to give you a longer time to pay your debt at lower interest rates too.

You wouldn’t be able to do it without a professional counsellor working for you and in your best interests.

More Alternative Solutions for Managing Debt:

While traditional consolidation loans are not available during debt review, other options can help you manage your debt more effectively:

Get permission from your Debt Counselor to access funds:
Discuss alternative solutions with your counselor.

They might offer guidance on accessing funds within your existing debt review plan (like emergency funds) for unforeseen expenses.
Explore government support programs:
Depending on your circumstances, you may be eligible for government assistance programs offering financial aid (e.g., SRD R350 Grant).
Seek additional income ethically:
Explore authorized freelance work, selling unused items, or developing skills to generate extra income within your available time.

Disclaimer: This information is for educational purposes only and does not constitute financial advice.
For more help and support, consult a qualified financial advisor for personalised guidance or reach out to anyone on the contact list below.

Contact List of People and Institutions that offer Debt Review Clients Help or Support

Government & Regulatory Bodies

National Credit Regulator (NCR):
They regulate the debt review industry and provide resources for consumers. You can reach them through their website: https://nationalgovernment.co.za/units/view/126/national-credit-regulator-ncr or call their toll-free number: 0860 44 62 72.
National Consumer Commission (NCC):
They advocate for consumer rights and offer assistance with complaints against credit providers.
You can reach them through their website: https://thencc.org.za/ or call their toll-free number: 0860 134 326.
Department of Social Development (DSD):
They offer financial assistance programs and support for vulnerable individuals and families.
You can find their website here: https://srd.sassa.gov.za/ or contact your local DSD office.
Social Grants:
If you think you may qualify to get a social grant you can go here to check all the SASSA Grant FAQs

Non-Profit Organizations

The Debt Counselling Alliance of South Africa (DCASA):
They offer information and support on debt review and financial management.
You can find their website here: https://www.ndca.org.za/
The National Debt Reviewers Association of South Africa (NDRA):
They represent debt counseling companies and provide information on debt review.
You can find their website here: https://www.facebook.com/NCRDC3106/ or contact them via email: [email address removed].

Financial Advisors:

Registered Debt Counselors:
These individuals can provide personalized advice and guidance throughout your debt review journey.
Find a registered Debt Counselor through the NCR website or contact your debt review provider for recommendations.
Independent Financial Advisors:
While they cannot offer specific advice on debt review, they can provide general financial guidance and assistance with budgeting, saving, and future financial planning.

Additional Resources for people Under Debt Review:

Debt Review Information Portal:
https://www.ncr.org.za/register_of_registrants/registered_dc.php – A comprehensive resource center provided by the NCR with information on debt review, rights and responsibilities, and frequently asked questions.

When You're Under Debt Review and Need a Loan Urgently, Don't Do This...

Even if you’re under debt review and need a loan urgently do not be tempted to borrow money from a loan shark.

It could be the worst thing you do, for the following 3 reasons;

Loan sharks will have little regard or sympathy for your desperate financial situation, except to capitalise on it.
Whilst it may be fairly easy to get credit from a loan shark, it will come with unrealistic repayment terms combined with an unreasonably high-interest rate.
Failing to make a repayment will probably result in all types of verbal, as well as physical, threats in the event of you missing a payment date.

These guys don’t play, so no matter how desperate you are do not be tempted.

Times are probably tough, but remember you’re only in this situation because of managing your money badly, so do not be tempted to take on additional debt especially from loan sharks.

However, if you’re fed up with the process & think you can manage without being under review, this is how you can get out of debt review.

Please Note: Remember, this information is for general guidance only. Each individual's situation is unique, and it's advisable to reach out to qualified professionals and relevant institutions for tailored advice and support.

Last Word on Loans for People Under Debt Review

In the unlikely event, you find a lender willing to provide loans for people under debt review, look carefully at the interest rate being charged before signing & committing to any loan not being granted by a traditional lender or bank – it will almost certainly place you in a far worse financial situation.
You should also ensure that the lender is registered with the NCR (National Credit Regulator) which would provide some protection & peace of mind as opposed to some of the unscrupulous lenders out there.
Furthermore, it’s mostly loan sharks that may consider giving loans to debt review clients in South Africa which may give you some short-term debt relief.

However, please be aware that things can turn nasty and you stand a good chance of losing everything including your car, and home as well as having your salary fleeced which will leave you nothing to live on.

Lastly, if you’re one of the many people under debt review and need a loan urgently, always ensure that the lender (unlikely you’ll find one) is registered with the NCR (National Credit Regulator).

For answers to the questions you may have about the debt review process, how long do you stay under debt review, and other questions, see the most frequently asked questions about debt review below.

Debt Review FAQs

What is debt review

Debt review is a formal process in South Africa to help individuals who are struggling with managing their debts. It involves:

Negotiating with creditors to lower interest rates and restructure outstanding debt.
Making a single monthly payment to a debt counselor who then distributes it to creditors.
Completing the program usually takes 3-5 years depending on the individual’s financial situation.

RDP Housing: How To Apply For a RDP House Easily

Max — Mon, 13 May 2024 01:09:00 +0000

RDP Housing

RDP Housing In South Africa

RDP House statistics show that almost 20% of South African households consist of people living in government subsidised homes.

It therefore seems that the RDP housing system is a real solution for many people in South Africa, who do not earn enough to qualify for a normal home loan, to have in their own homes.

While this may be providing a solution for many, the waiting lists for RDP housing is significantly large & the quality of these type of low cost houses is often below standard with thin walls & leaking roofs with most of these type of complaints coming from the Western, Eastern & Northern Cape provinces.

However attention is being given to these issues by the authorities so it is definitely worth applying if you qualify.

Unfortunately it is not as simple as that, as to get an RDP housing application approved, the applicant may not earn more than a certain amount (R3000 per month) which means that people who earn more than the maximum to qualify for an RDP house but less than the required amount to qualify for a home loan, will have a difficult time in getting financing to buy any sort of house.

Need a Short Term Personal Loan?

Apply Here »

RDP Housing Application – Quick & Easy

RDP Housing Application

Start your RDP housing application by contacting your ward councillor in your area.

To get your RDP house you will need to provide them with all the necessary documentation such as ID documents, proof of income etc.

RDP House Application Form Online

You can apply for a RDP house online in Cape Town, Durban or anywhere else in South Africa.

If you click here, or on the form above, it will take you to the RDP house application form PDF which you can complete & submit online.

A screening process is then performed & the successful candidates identified.

How Do I Check My Housing Status?

To check your RDP house online or to check your housing status you have these options.

Call 0800 146 873 to check your RDP housing status.
To check your RDP house online you can go to your municipality’s website to follow up on your RDP house.

RDP House Waiting List

Just remember that after you’ve registered for your RDP house, your name will on the RDP waiting list for houses in Gauteng.

You’ll also be on the provincial housing need register, & housing demand database, so that as &when housing projects are completed, hopefully your name will be included in those who are allocated a house.

Who Qualifies For RDP Houses

Those who fulfill the following criteria are those who qualify for RDP houses.

RDP Houses are only for South African citizens who have valid SA ID documents.
You must be over 21 years of age & have contractual capacity.
You must be married or live permanently with your partner or have dependents.
If you’re single you need to have financial dependents to qualify for a RDP house.
Your total household income cannot exceed R3500 per month
Aged persons who are single and are without financial dependents.
You must be a first time government subsidy recipient.
You need to be a first time home owner & cannot have owned property previously or currently anywhere in South Africa.
If you’re a single Military Veteran without financial dependent you qualify.

Please note that these conditions are subject to change at any time.

Furthermore, if an applicant’s income is higher than the maximum amount, the amount of the subsidy will decrease accordingly.

If the RDP housing application is approved the applicant will then receive the house together with the plot of land it is built on & all the relevant services in terms of water & electricity, sewerage etc.

A further subsidy can be applied for by the home owner, in the form of an indigent subsidy to subsidise the cost of the services if the owner earns less than R1000 a month.

For this extra subsidy, home owners need to apply at the indigent office & also need to go through this application process every year as the income status of the resident may change.

Please note that these conditions are subject to change at any time.

RDP Houses For Sale

You can find RDP houses for sale in Tembisa, Mamelodi, Cosmo City, Khayelitsha, Atteridgeville, Olievenhoutbosch, Ivory Park and all over South Africa.
Applicants should bear in mind that they will only be able to get one housing subsidy ever & will never be granted another one
RDP house cannot be sold or rented out – they are provided solely for the applicant’s accommodation
Any RDP owner wanting to extend or renovate their house before eight years of ownership will need to obtain permission from their local municipality
Special treatment is given to disabled applicants – the design of the house may also be changed to accommodate the special needs of the person’s disability

Middle Class Income Groups Who Do Not Qualify For RDP Housing

Applying For a Home Loan Is Probably the Only Option For Those Middle Income Groups Who Earn Too Much For a RDP House

For those whose income is too high to be considered for RDP housing will need to apply for a home loan in order to buy or build their own houses.

This however is easier said than done as with the new Credit Act home loans are only granted on affordability once all your usual expenses are taken into account.

So while the interest rates are at all time lows, lending institutions are extremely reluctant to grant home loans to applicants whose earnings are borderline.

Another option is to apply for a personal loan which can be used as a deposit for a small home loan.

Contact Numbers For RDP Housing

Government housing assistance contact details
Housing Enquiries Hotline: 0800 146 873
Gauteng: 011 355 4000
Western Cape: 079 769 1207 (Please Call Me)
Eastern Cape: 043 711 9901/2/3
KwaZulu Natal: 033 392 6400 or 033 3365300
North West: 018 388 5403
Limpopo: 015 284 5000
Northern Cape: 053 830 9422
Free State: 051 405 3883
Mpumalanga: 013 766 6087

SASSA Loans via Cellphone

Max — Wed, 05 Jan 2022 07:00:00 +0000

SASSA Loans Via Cellphone: Avoiding Scams & Finding Safe Alternatives

SASSA Loans: Unveiling the Truth Behind Quick Cash Promises

It would be great if SASSA Loans were easily available to grant recipients via cellphone or by completing a simple online application.

The truth is that SASSA does not provide loans to beneficiaries and all those easy loan schemes are often disguised as a “instant SASSA loans”.

Many websites tempt you by saying that SASSA loans are granted to all beneficiaries in South Africa.

And that to apply for SASSA loans via cellphone you just need to complete the application form which you can open via your cellphone.

You may have read that instant SASSA loans can also be granted through Shoprite, Capitec, Moneyline, Finbond or Easy Pay.

For the facts behind these promises of easy SASSA loans you’ll be shocked to see (below) that they are mostly lies & scams…

Shoprite, Capitec, Moneyline, Easypay SASSA Loans

Contrary to what many websites say, you cannot get Shoprite SASSA loans, nor with Moneyline, Capitec or Easypay.

Below is the relationship the above companies have with the Social African Social Security Agency (SASSA).

Shoprite

Shoprite serves as a cash pay point for SASSA grant recipients in some areas, similar to the Post Office and other approved outlets.

But it’s not directly affiliated with SASSA and does not provide instant SASSA loans to beneficiaries.

It merely facilitates grant disbursements as a designated payment agent.

Capitec

Capitec offers bank accounts and financial services that are popular with SASSA beneficiaries.

But, these are standard individual accounts and not specific for SASSA recipients.

While some social grants might be deposited into Capitec accounts, it does not provide SASSA loans specifically for beneficiaries.

Moneyline

While Moneyline, as a registered credit provider in South Africa, might offer loan products to customers who receive SASSA grants, it’s not specifically provide SASSA loans.

Therefore, beneficiaries should carefully evaluate any loan terms and consider reputable alternatives before engaging with Moneyline or any lender.

Finbond

As above, Finbond also operates as a registered credit provider and may offer loan products to SASSA recipients, but there’s no special treatment for beneficiaries.

EasyPay

EasyPay’s relationship with SASSA has been complex, confusing and pretty controversial.

This is the current situation regarding EasyPay and SASSA.

Past relationship:

Grant payments: EasyPay previously served as a major cash pay point for SASSA grant recipients, particularly in certain geographic areas.

However, SASSA is steadily phasing out this dependence.

Loan confusion: There have been instances of beneficiaries being misled or offered EasyPay-linked loans under the impression they were official SASSA loans.

Current situation:

EasyPay’s role in SASSA operations has significantly diminished.

While some cash pay points might still use it in specific areas, the transition to SASSA cards and the Post Office as primary payment channels is ongoing.

Therefore, there are no SASSA EasyPay loans as such.

In fact there are no official SASSA loan options through EasyPay or any other third-party services.

Any marketing claiming easy loans through EasyPay associated with SASSA is likely misleading or unauthorized.

However, recipients who have EasyPay cards can access loans with their cards.

But this loan would be with EasyPay and not SASSA as such.

Below are the steps to access such loans.

Remember, SASSA strongly discourages beneficiaries from taking loans, especially quick cash loans or those associated with high-interest rates and hidden fees.

They recommend exploring alternative options like budgeting assistance, debt counseling, or emergency support programs before considering loans.

Get Instant SASSA Loans via Cellphone in 3 Simple Steps

Getting SASSA loans via cellphone provides an easy & convenient way to get quick cash straight to your bank account.

This loan application process only applies to EasyPay.

Requirements:

Applicants must have an EasyPay Everywhere account.
You need to have your SASSA grant paid into your EasyPay Everywhere account over a minimum of three consecutive months
You must also pass the affordability requirements to qualify for a loan.

The application process can usually be broken down into just 3 key steps:

On your cellphone keypad type in *120*3737*7# to run the USSD.
You will then be provided with loan application menu options.
Follow the prompts and submit your personal details.

SASSA Loans: Important Precautions to Take

Verify information:

Always rely on the official SASSA website (https://www.sassa.gov.za/) and communication channels for accurate information.

Be cautious of claims on third-party websites or individuals.

Beware of scams:

Scammers often exploit the connection between SASSA and EasyPay to lure beneficiaries into predatory loan schemes.

Never agree to loans without thoroughly understanding the terms and conditions.

Explore alternatives:

Before considering any loan, explore safer options like budgeting assistance, debt review, or emergency support programs offered by community organizations or trusted financial institutions.

Still Waiting For Your SASSA R350 Grant Payment?
SASSA Status Check For R350 Payment Dates »

SASSA is a national agency of the South African Government which was created to administer the application, approval & payment of loans, social & child grants in South Africa to qualifying citizens.

Furthermore, SASSA grants exist to alleviate & prevent poverty as well as to help vulnerable South Africans within the constitutional legislative framework – you can read more about SASSA here.

SASSA Loan Application Form

Please note that SASSA does not offer loans to beneficiaries.

These conditions have therefore changed and no longer apply.

For more clarity on this you should contact SASSA at any of the following;

SASSA official website: https://www.sassa.gov.za/: https://www.sassa.gov.za/
SASSA call center: 0860 106 483

To get your SASSA loan application processed you should apply at the SASSA Office nearest to where you live.

So if you’re wondering how to make a SASSA loan on your phone you would need to apply in person.

However, if you are too old or sick to go to the office to apply for a loan or grant, then a family member or friend is allowed to apply on your behalf.

If you’ve already submitted your SASSA R350 grant application you should do a SRD status check online to ensure you are registered to get your payments.

More About Your SASSA Application

Typical SASSA Loan Application Form

The application form needs to be completed in the presence of an officer from SASSA
Once your application is completed & handed in you will be provided with a receipt for it
This receipt is important as it is your only proof of your SASSA application which you will need if you want to follow up on the application
It is free to apply, so the application will not cost you a cent
Should your application be declined, you need to be informed in writing by Sassa as to why your application was unsuccessful
If you think your application should’ve been approved you can appeal the decision. This appeal needs to be done in writing (within 90 days of notification) & submitted to the Minister for Social Development with reasons as to why you disagree with their decision.

8 Types Of SASSA Loans & Grants

Social Relief of Distress
Grants-in-aid
SASSA Loans For Child Grant
Foster Care Grant
Care Dependency Grant
War Veteran’s Grant
Disability Grant
Grants for Older Persons

SASSA Contact Details

If you can’t get to your closest SASSA office you can contact them as follows; For SASSA loans & grants you should contact Grants Enquiries at the following number/s or email;

SASSA Toll free: 0800 60 10 11 or CPS 0800 60 01 60
or Phone Moneyline Financial Services (Pty) Ltd at 0801 11 18 80 or +27 11 343 2086 to find out the location of their nearest office to you
Email: [email protected]
Or visit the SASSA website

SASSA Loans Payment Dates

Go here for the latest SASSA payment status check

Online Personal Loans In South Africa

Max — Thu, 04 Nov 2021 01:02:00 +0000

Loans South Africa: Loan Application Online

Getting quick approval for loans in South Africa has never been easier

By simply completing a user-friendly loan application online, you can enjoy a swift and hassle-free process.

Not only is it a simple process, but you’ll find out quickly whether your loan application has been approved.

Loan Application Online

Get up to R350,000 - African Bank

Click on the African Bank image to begin the easy 5 step loan application process (below);

Personal details
Financial details
Enter the OTP
Get your loan offer
That’s it – you’re done!

Sort Term Loans South Africa

Get up to R8,000: Boodle

To access easy online loans in South Africa, complete this uncomplicated loan application form provided by Boodle.

You can apply for any amount up to R8,000.

The maximum repayment term for any size loan is 32 days.

Requirements to Qualify for Online Personal Loans in South Africa:

To successfully qualify for online personal loans in South Africa, ensure you meet the following criteria:

Most recent proof of income, reflecting 3 salary deposits
Proof of residence not older than 3 months
Must be over 18 years old with a copy of your ID document
Latest bank statement, reflecting 3 salary deposits

Loan Application Process:

Once you submit your loan application form, various loan options will be presented to you. Rest assured that this service is entirely free, and there are no registration fees involved.

Loan Application Online: Benefits

Convenience and Flexibility:

Apply for your loan online 24/7 and receive approval via SMS, regardless of your location in South Africa.

The loan amounts can range from R500 up to R250,000, with repayment periods spanning from 1 month to 5 years.

Personal loans in South Africa can be utilized for various purposes, such as debt consolidation, paying school fees, or home renovations.

No Collateral Required:

It is crucial to highlight that personal loans online do not require you to own a house or provide any form of security.

These unsecured personal loans grant you peace of mind during the borrowing process.

Qualifying for Online Personal Loans

To qualify for a personal loan, you need to meet specific criteria.

As these loans are unsecured, collateral is not required.

However, the following conditions must be fulfilled:

South African citizenship with a South African ID document
Minimum age requirement of 18 years
Permanent employment
Own bank account
Possess a cell phone

Various Personal Loan Options

Choose from three quick and convenient personal loan options:

Loans up to R150,000 – ideal for larger financial needs
Short-term personal loans up to R6,000 – perfect for smaller, immediate expenses
Loans for clients under debt review – find out more about accessibility during challenging times

Unsecured Personal Loans:

Recent reports indicate that the National Credit Regulator (NCR) is considering reducing the interest rates of unsecured personal loans from 32.65% to 24.78%.

This potential change aims to benefit a significant number of individuals in South Africa seeking unsecured personal loans online.

Advantages and Disadvantages of Unsecured Loans:

Unsecured loans offer several advantages for borrowers:

No need for collateral or pledging assets
No credit checks conducted by lenders
This is an entirely free service and you should not have to pay a registration fee or anything like that even if you don’t accept any of the loan offers you get presented with.
You can apply for your loan online 24/7 & get approval by SMS no matter where you live in South Africa.
Quick approval process, often completed online

However, it is essential to consider the disadvantages as well:

Higher interest rates compared to secured loans
Strict repayment terms
Potential risk of falling into a debt cycle

Loans South Africa: Interest Rate

The interest rate on personal loans varies based on individual profiles, loan amounts, and repayment periods.

Reputable lending institutions offer lower interest rates compared to loan sharks.

To calculate your loan interest and monthly payments, visit this link for African Bank.

Assessing the Worth of Personal Loans

While personal loans are easily accessible online, it is crucial to conduct thorough research before committing to any loan.

Examining loan options and lenders helps avoid exorbitant interest rates and unfavorable repayment terms.

Loans for Bad Credit

Online personal loans for individuals with bad credit should generally be avoided due to the higher interest rates and stringent repayment terms associated with such loans.

Instead, it is advisable to work towards improving your credit score to secure lower interest rates in the future.

Conclusion on Getting Loans in South Africa

For effortless online personal loans in South Africa, take advantage of the convenient online loan application processes offered by reputable lenders.

Prioritize thorough research to ensure optimal borrowing terms, making your financial journey a smooth one.

What Is a Payday Loan and How Does It Work

Max — Fri, 22 May 2020 13:06:15 +0000

What Is a Payday Loan?

What is a payday loan and how does it work are some of the questions you should have the answers to before considering one.

Furthermore, other questions you should ask are payday loans good or bad and are there problems with payday lenders.

Payday loans are a double edged sword as they provide quick financial relief whilst increasing your debt burden.

Online payday loans are short-term unsecured loans which provide access to quick cash for any reason.

Sensible people will only turn to this quick cash facility, offered in the way of online payday loans, for emergency expenses, however many use it for any vanity purchase.

The latter use of the easy payday loan facility ultimately leads to increasing borrowing & the downward debt spiral.

FAQ – Online Payday Loans South Africa

What is a payday loan and how does it work?

How payday loans in South Africa work, is that a lender provides the borrower with a short-term, unsecured loan that is to be paid pack, with interest, on the borrower’s next payday.

Are there payday loans for blacklisted people?

Getting payday loans for blacklisted people is no problem as most permanently employed applicants will qualify.
Therefore, payday loans for bad credit applicants will be granted in South Africa as long as they are SA citizens, have a bank account & have proof of employment.

Are payday loans good?

Yes, they can be a blessing for emergency cash requirements, for instance any unexpected expense.

Are payday loans bad?

Yes, they can be especially bad for people who access them for the wrong reasons a& cannot afford to pay them back.
The problem with payday loans in these cases, is that the borrower doesn’t account for the high interest rates they come with and gets into the cycle of borrowing to pay off debt.

What is the purpose of a payday loan?

They are intended for an employee as a means to get a quick & easy cash advance, to settle an emergency expense for example, before their next payday.

How much does it cost?

There’s no cost to applying for one, however they do come at very high interest rates so should be avoided if possible.

Do you need to provide collateral for payday cash loans?

No as they are designed for people who are permanently employed so that the loan amount, plus interest, is repaid to the lender on payday.
Therefore the lender does not require any collateral in the form of insurance policies or house to secure the loan as it will be repaid from the borrower’s salary.

Is it easy to get?

Convenience is a big benefit of getting an easy payday loan paid into your account.
The whole process can be done online without any paperwork required.

What do you need to get a payday loan in South Africa?

To qualify you need to be a permanently employed SA citizen with a bank account.

What happens if you default on a payday loan?

Your loan agreement binds you into a legal agreement with the lender so you may face the following consequences by not paying it back as greed;
1. Additional fees & interest
2. Significant damage to your credit score
3. Debt collectors harassing you
4. Court summons
You have options such as settling the debt for less than you owe or filing for bankruptcy if
If your debts are overwhelming you always have the option of filing for bankruptcy or applying for debt review in South Africa which will give you relief from your creditors.

How to choose an honest payday loan lender?

As there are so many payday loan lenders out there, you won’t be limited when it comes to choice.
However, do not choose the first one you see, as by doing some research you’ll see some are more reputable than others & charge less in fees & interest.
Only choose a reputable lender that is registered with the NCR.

What are the dangers of payday loans?

Payday loan lenders don’t usually have the same high standards as banks do when it comes to applicants’ credit scores.
The flip side is that they charge exorbitant interest rates & fees that could cause you huge financial distress if you’re unable to repay the amount with interest.
A better option is to increase your credit score which will allow you to access a personal loan through your bank at favourable rates.

Click this link for more information on getting Personal Loans in South Africa

SASSA Card Problems

Max — Fri, 01 May 2020 13:53:00 +0000

SASSA card problems and SASSA fraud is something beneficiaries need to be aware of.

Social grant beneficiaries should be vigilant if they suspect fraud especially they’re experiencing any of the following SASSA card problems.

SASSA card swallowed by ATM?
SASSA card lost?
declined?
PIN tries exceeded?
blocked?
lost during lockdown?

So if your SASSA card was swallowed by the ATM or lost, you may have become a victim of fraud and you should report it to your local SASSA office or service point (see below).

Furthermore, as SASSA card fraud is on the increase, warnings have been issued to grant beneficiaries to be aware of fraudsters impersonating SASSA officials.

SASSA Lost Card Contact Numbers

If your SASSA Card has been lost or swallowed by ATM you must immediately report this to one of these lost card numbers.

0800 600 160 – Call Centre (toll free from a landline) or any SASSA office or service point.
011 712 1800
0860 800 900

These fraudsters try to trick the card holder into swapping their card for a “new” one and then get access to the beneficiary’s genuine SASSA card.

Beneficiaries then experience problems with their “new” SASSA cards as they’ve been conned into exchanging them for their real ones.

What To Do If You Experience SASSA Card Problems

If a beneficiary suspects they’ve become a victim of SASSA fraud, the Agency recommends taking the following steps.

Call or visit nearest your local SASSA offices, or identified service points, immediately, where you will be assisted.
See SASSA lost card contact numbers above.
You will be required to produce your SA Identity Document, social grant gold payment card, proof of residence as well as an affidavit confirming the your personal details.
Furthermore the affidavit, which you need to show the SASSA official, needs to declare that the suspicious activity, in the form of the unlawful withdrawal, was not committed by the beneficiary or lawful owner of the SASSA card.
Lastly, if the grant is paid into the beneficiary’s personal bank account, proof of the banking details also needs to be provided.

Read More About Getting SASSA Loans here

5 Steps To Prevent SASSA Fraud

It’s better to prevent fraud, by taking these steps, than to discover fraudulent withdrawals have taken place only after you start having SASSA card problems.

SASSA warns grant beneficiaries not to share their card’s PIN, or password, with anyone – including family and friends.
If a beneficiary thinks their PIN, or password, has been compromised they should report to their nearest SASSA office, or South African Post Office, where they can get it changed, safely & securely.
It’s important to note that it is the responsibility of all social grant beneficiaries to safeguard their SASSA payment cards, PINS, passwords.
Beneficiaries should not discard any documentation, like payment slips, that may contain their personal information which fraudsters can use to access money from their SASSA account.
Always be vigilant & know that SASSA will never request a grant beneficiary’s personal information over the phone, so never divulge anything in this manner as you’re likely to become a victim of fraud.

Need To Apply For SASSA R350 SRD Grant?

Just click on the link below…

SASSA R350 Grant Application Online »

Conclusion On SASSA Card Problems

Certain moneylenders have been involved in fraud causing SASSA card problems & exploiting beneficiaries by charging high interest rates on loans.

Furthermore, social grant beneficiaries should not use their SASSA payment cards to obtain loans or to cede their cards as guarantees for repayment.

Therefore, if you deal with a moneylender ensure that they are registered with the NCR (National Credit Regulator) and that they display their certificate confirming this.

Lastly, for any SASSA card problems, report them immediately to one of the SASSA lost card contact numbers above to prevent any fraudulent withdrawals.

SASSA Status Check For SRD Grant

Find out whether you’re registered for SASSA R350 SRD Grant…

SASSA Status Check »

Loan Agreement: Terms & Conditions To Look Out For

Max — Thu, 09 Apr 2020 13:17:05 +0000

A loan agreement is something many people rush into signing without examining the terms and conditions of the loan.

It’s probably because they’re only focussed on getting the money into their account, but neglecting the actual loan conditions before they sign the loan agreement can land them in a financial mess.

So before you sign a loan agreement, please remember to look out for these specific things in the loan agreement form.

5 Things In the Loan Agreement Form To Look Out For

1. Loan Amount

Make sure that the amount on the loan agreement form is the actual amount you applied for.

Do not borrow more than you need as not only will it be harder to repay, but you’ll also end up paying more in interest & fees.

2. Loan Installments

It’s very important to confirm that the loan installment amount on the loan agreement form corresponds with what you were quoted.

You also need to be totally comfortable with repaying the amount that you’re signing for as you do not want to get into arrears which could cause loads of trouble for you.

If you default on a loan installment payment, even if you just pay it late, it will negatively affect your credit score.

A good tip is to ensure that the date payable is either on or before your pay date, so that your debit order won’t be declined.

The installment period will also mention how often you will be making the loan repayment amounts which could be weekly or monthly.

3. Service Fees & Initiation Fee

These fees are regulated by the National Credit Regulator (NCR) together with the National Credit Act (NCA) which prohibits lenders from charging more than the amount that is prescribed.

If you have multiple loans, each one will be attracting its own fees which can be consolidated into one loan which would be subject to only one service fee amount, saving you money.

4. Loan Interest Rate

Whilst the maximum interest rate a lender may charge is governed by the NCR, increasing your credit score will ensure you get a lower interest rate.

Also check the interest rate on the loan agreement form and whether it’s linked to your personal credit score or not.

Also confirm whether the interest rate on the loan agreement is calculated on a monthly or annual interest rate, which could mean a massive difference to your installments and total interest payable.

5. Total Cost Of Credit

The total cost of credit is the sum of all your installments, which will include the principal loan amount and all the associated costs as illustrated below.

Total cost of credit = Original loan amount + Interest + Fees + Credit life insurance (over the term of the loan).

This figure may give you a bit of a shock as it will be significantly more than your loan amount, however if you can pay more than the minimal loan installment amount, you’ll be able to pay it off a lot quicker & save money.

Again, ensure that the interest rate and term are correct when examining this amount in your loan agreement.

Need a short term loan approved today?
Apply Here »

Need a short term loan approved today?

Apply Here »

Cheapest Loan Interest Rates In South Africa

Max — Fri, 03 Apr 2020 07:36:53 +0000

Best Personal Loans With Low Interest Rates

These are the lending institutions that offer the cheapest loan interest rates in South Africa.

Whilst these personal loan interest rates will vary according to your credit worthiness they can still be regarded as the lowest you will get.

Furthermore, you may want to increase your credit score so that you can get the lowest possible interest rate when applying for a personal loan.

Compare Loans For the Lowest Interest Rate

Last Word On Finding the Cheapest Loan Interest Rates In South Africa

Clearly comparing loan companies to get the best interest rate for your loan is a no-brainer, however it’s not always that obvious.

For instance you could be so relieved to get approved for the loan that you so desperately need, that you would sign up with the first company to approve it even though it comes at a high interest rate.

A better strategy is to improve your credit score and you’ll have loan lenders fighting for your business offering even lower interest rates.

Also, always ensure that the loan company you choose is registered with the NCR (National Credit Regulator) to ensure they are reputable & not awful loan sharks.

How Does Financing a Car Work?

Max — Mon, 16 Mar 2020 10:37:41 +0000

How does financing a car work is a question that many frustrated consumers ask after having their applications to apply for a car declined.

For most consumers getting vehicle finance, through a bank or in house financing, is their only option as hardly anyone has the money to buy a vehicle for cash.

Furthermore, many people don’t even have the money to put down a deposit on a new or used car, so they’re left with no option but to apply for Wesbank vehicle finance or getting cheap car finance through a dealer.

So Exactly How Does Financing a Car Work In South Africa?

These FAQ on how vehicle finance works should answer any questions you have on car finance and help you get new or second hand car finance.

How does financing a car work?

The way vehicle finance works is with any of these 3 options.
1. Installment Sale

The installment sale, is fairly flexible in that you can reduce your installment amount by taking it over a long period (60 months), or by building a balloon payment into the agreement which means making a large payment at the end of the payment period.

However, by paying higher installments and reducing the repayment period, you could save a significant amount of money in interest and finance charges.

You could also buy your vehicle on hire purchase which is different to the installment sale in that ownership of the vehicle only transfers to the buyer once the final payment has been made in terms of the HP agreement.

Under an installment sale, ownership of the vehicle transfers to the buyer upon signing the agreement.

2. Full Maintenance Lease (FML)

Buying your car on a full maintenance lease is similar to renting your vehicle over an agreed term and at an agreed monthly fee.

The big benefit with this method of vehicle finance is that it includes all the maintenance, servicing, parts and wear & tear.

Furthermore, at the end of the period you return the vehicle and can get a new one under the same terms if you wish.

The disadvantages of this type of car financing is that the agreement restricts the mileage, ownership never transfers to you (so you never own the vehicle) and lastly you’ll be penalised heavily if you decide you want out of the contract before it ends.

FML deals can also be done by some in house financing car dealers.

3. Guaranteed Buy Back

If you finance your vehicle through the bank, you can agree on a value that the car can be bought back for at the end of the finance period by the bank.

The disadvantages with this method of vehicle financing are that the finance house will impose strict conditions on mileage and condition of the vehicle, for example.

How do I qualify for car finance in South Africa?

To qualify for car finance in SA you need to comply with the following criteria;
1. You must be 18 years old or older
2. Only SA citizens with permanent residence qualify
3. You need to be able to provide proof of employment and salary
4. You have to be in possession of a valid South African drivers license
5. A good credit history, without any judgements, will also be a requirement to qualify for car finance

How long does it take to get car finance in South Africa?

In some cases you may get pre approved vehicle finance, however it generally takes 1 to 2 days for the finance house, like Wesbank vehicle finance, to give the car dealership an answer.

There could be some issues that need to be resolved which may add on another day or two, so there’s no exact time.

However, for applicants with excellent credit scores and clean credit history, vehicle finance is generally approved quicker than others.

What credit score is needed for vehicle finance in South Africa?

The higher the score on your credit report, the more chance you have of getting vehicle finance approved in South Africa.

As a guide, credit scores from 767 to 999 are considered excellent and if you fall into this range you will have no problem getting vehicle finance.

Scores from 681 to 766 are considered to be good which will also stand you in good stead when it comes to getting your car finance application approved.

Scores in the range of 614 to 680 are favourable, however a credit score below 614 will make it very difficult for you to get approved. You will probably have to look for car dealerships that accept bad credit.

It’s important to do a regular credit score check as it could boost your credit worthiness.

Is it better to finance a car through a bank or dealership?

Getting car finance deals through the dealer is generally the same as getting them done through a bank, however the dealer will be slightly more biased to get the deal approved for you.

Furthermore, dealers that do in house financing cars will often offer lower interest rates for their clients.

Lastly, if your credit history is poor, you may find auto dealerships that finance bad credit although the interest charged may be higher than through a bank.

What does a car dealership need for financing?

One of the main reasons for getting in house financing is that a dealer may overlook a poor credit record and still approve your car finance.

However, you still need to provide personal information like proof of salary, FICA documents as well as credit history.

Whilst it may be easier to get in house car financing, it’s important to know that it may come at a higher cost in terms of interest rates and other charges than it would through a car finance house like Wesbank.

What is a good interest rate for vehicle finance in South Africa?

The average interest rate charged to SA consumers on installment sale agreements, to buy motor vehicles & furniture, is around 11% – SA Reserve Bank (2018).

Which bank is best for car loan?

Some of the best vehicle finance banks in South Africa are;
1. Wesbank vehicle finance ( Wesbank car finance)
2. Standard bank vehicle finance
3. Mercedes benz agility
4. Absa car finance
5. African bank vehicle finance
6. Nedbank vehicle finance (Nedbank car finance)

Want to finance your car with a loan?
Get easy personal loans, up to R250,000, approved now…
Click Here »

Can You Afford a Personal Loan?

Max — Fri, 24 Jan 2020 10:11:25 +0000

Consequences Of Taking Out Personal Loans

Can you afford a personal loan and do you know how it will affect you financial situation going forward?

Being granted a personal loan will clearly bring about quick financial relief or allow you to buy that new shiny thing, but can you afford to take on extra debt?

These are the questions that you need to answer & interrogate so that you have a good idea as to how the additional debt will impact on you.

Unless it’s a medical emergency or suchlike, the best course of action, for most of us, is to not sign for more credit.

However, if you’re intent on borrowing more money, let’s see if you can afford a personal loan.

What Percentage Of Your Salary Should Go To a Personal Loan?

Generally, banks will look at your gross salary, less expenses, to determine what size loan you qualify for and at what interest rate. This will also depend on the following factors.

Your credit score
Having a favourable banking history
The amount of your disposable income you have
How long you’ve been employed to determine the stability of your income
Your risk profile

Furthermore, the amounts offered by various lenders ranges from R1,000 to R200,000.

Interestingly, Capitec Bank is South Africa’s biggest provider of unsecured personal loans in South Africa.

The other “big four” lenders,

Standard Bank
Nedbank
Absa
FNB

also offer unsecured personal loans but they generally come with higher costs & interest rates, depending on your personal financial situation above.

Can You Afford the Extra Debt That Comes With Extra Credit?

According to the South African Reserve Bank (SARB), household debt eats up 72.7% of the average South African’s disposable income.

So if you are included in the above statistic, you certainly cannot afford a personal loan.

Whilst getting the loan, may provide you with some debt relief, it will only exacerbate your financial situation and make you a slave to your debt.

3 Alternatives To Personal Loans

Even if you can afford a personal loan, the sensible option is to look for alternatives that will help you avoid taking on extra debt.

These money saving alternatives to getting a loan should be explored before placing yourself in more debt.

1. Save More Money

I can hear you asking “how do you think I can save money when I need a loan?”.

Yes I know, but no matter how low your disposable income is, by using these smart money saving tips, it’ll last longer & give your more spending power.

Therefore, if you’re going to be spending money on essentials, wouldn’t it be better to buy them at cheaper prices or benefit from your spending in some way?

Try implementing some of these easy ways you can use to save money on a low income.

Only Shop Where You Get Loyalty Or Spend Rewards That You Can Accumulate & Use To Pay For Your Purchases - for instance only filling up at Engen stations improves my eBucks earnings which I can use to shop at multiple stores, or even use for fuel.
Use Your Medical Aid Or Bank Partners To Get Discounted Prices On Goods
Invest Any Savings In a High Interest Account Like a Money Market Or Money Maximiser Account
Change Your Bank Account To One With a Fee Saver, Or No Fee, Option
Debt Consolidation Will Save You Money On Your Total Monthly Repayments »
More Effective Ways To Save Loads Of Money Every Month »

2. Borrow On Your Bond

If you have equity in your bond and you absolutely have to have money for an emergency, then your bond is one of the best ways to access cash quickly.

Not only is it fairly easy to access funds, but it’s a cheap and tax efficient way of doing it.

3. Get An Advance On Your Salary

For small personal loans, a salary advance is a way better choice than signing up for a costly loan from a bank.

Not only is there no interest or fees with a salary advance, but it usually won’t come with unrealistic repayment terms or other conditions.

The benefits are not having the extra loan charges as well as it not affecting your credit score.

After Reading This, Can You Still Afford a Personal Loan?

Even if you’ve decided that you can afford a personal loan, it’s worth asking yourself whether you really need it.

If you’re already living on credit just to buy food, you probably won’t get approved through the mainstream banks.

Furthermore, no matter how desperate your situation never approach loan sharks to get your loan as your life could be turned into an absolute misery.

Lastly, whether you can afford a loan or not, the best choice is always to avoid additional debt and to look for alternatives to fund your lifestyle.

PS. For SASSA beneficiaries you can get SASSA Loans via Cellphone here