Comprehensive Guide on SASSA Loans

Comprehensive Guide on Sassa Loans

The South African Social Security Agency, is an institution that provides grants to eligible beneficiaries. Unfortunately, You can’t apply for SASSA loans from the official SASSA office but, eligible beneficiaries can apply for their social grants directly from SASSA Offices.  

Facts about SASSA Loans

In South Africa, The Department of Social Development tried hard to reduce poverty, inequality, and unemployment by providing different types of grants. The number of grant beneficiaries, increase from 18.4 million in 2021/2022 to 19.2 million in 2024/25.

Comprehensive Guide on Sassa Loans

In 2017, huge numbers of money lenders used SASSA (South African Social Security Agency) cards as collateral for credit. The National Credit Regulator (NCR) started an investigation into those money lenders, When Sassa came to know about this. 

According to Sassa, money lenders usually offers loan with a high-interest rate and mostly targets pensioners and social grant recipients. In many cases, money lenders force the Sassa beneficiaries to sign up for an additional card and a funeral insurance policy. In other stories, the money lenders get the Sassa cards from the recipient as collateral. It also happens many times that lenders continue to deduct the payments even if the recipient has repaid their loan.

SASSA does not offer loans

Rules and regulations of SASSA regarding money lenders and loan recipient

  • Section 20(0) of the Social Assistance Act, 2004 (Act 13 of 2004) states that it is illegal to hand over your Sassa card to anyone as collateral for a loan.
  • If any lender gets caught in possession of payment cards, he will be punished and arrested.
  • The money lenders are never allowed to own the pensioner’s documents by any means.
  • If a beneficiary gets caught transferring/ceding or pledging their grant, the recipient grant will be withheld, suspended, or stopped.
  • A declaration of intent is being rolled out to be signed by new applicants. This will be done only for safeguarding. So that the cards on which SASSA transfers grants and funds remain safe from money lenders. 

Other institutions that offer loan:

Furthermore, If you want to get loans, there are institutions through which you can get the loans through Shoprite, Capitec, EasyPay loan, Finbond, or Moneyline.  Sassa also warns the beneficiaries against fake SASSA r700 grant application warnings.

Shoprite loans:

Shoprite loans are unsecured but affordable personal loans with lower interest rates

Shoprite loans with effordale price
Shoprite loans

Document required for loan application

  • Bank statement for 3 months.
  • ID document( must valid).
  •  Salary or wage payslip.
  • Residence document as proof.

How to Apply?

  • You can apply for the loan by visiting the nearest Shoprite office.
  • You can apply for Shoprite Sassa loans online through the mfin website. You have to choose the loan amount first and fill out the form by providing your details. 

Finbond loans

Finbond Mutual banks are mutually owned by the depositors. They provide unsecured personal loans for a short period of time. It provides financial help to those who do have not enough to meet their needs and financial requirements. You can take the amount from R500 to R20,000 from the finbond bank as a loan without collateral or guarantee. You have 24 months to repay the loan.

Finbond loans

FinBond Loans requirements

If you wish to apply for a loan, you must have your bank account in which your monthly pay or income is deposited. You must be a South African citizen and over 21 years old. You also need the following document while applying for the loan. 

  • Certified ID (Identity document).
  • 3 months payslips.
  • 3 months’ latest bank statements.
  • Certified proof of address.
  • Contact details (Cell phone number and email address).
  •  Monthly expenses.

How to apply

To apply online, you can make an online application through the website by filling out the application form.  

Capitec loans

You can get a credit of up to R250,000 through Capitec. You can get the loan amount that suits you on a monthly installment with the lowest interest rate. You can also get affordable credit insurance, which also includes retrenchment,  permanent or temporary disability, unemployment, and death cover. Capitec provides the easiest way to manage credit through the app.

Capitec loans

The business owner who wants to apply for a loan, first makes sure that their business must be registered as one of these. Association, not for gain, Close Corporation (CC), Incorporated (Inc), Public (Ltd), or Private company (Pty Ltd), or a Trust. Otherwise, they are not eligible for the loan criteria. Capitec does not provide loans to self-employed individuals, freelancers, or sole traders

Document Required when applying for Capitec loan

When applying for capitec loans, you need the following documents:

  • Personal Information (ID documents, Name, surname, Marriage Certificate if married, Divorce order in case of separation ).
  • Latest payslip or salary proof.
  • Bank Statement of 3 consecutive months having the latest 3-month salary deposit into your account (and statement must be stamped).

How to Apply:

Online: To apply online, you need to visit the website: Under the option ‘ways to apply’ click “Online”. Then you need to fill out the form by providing the required information.

Through the Capitec app: Install the Capitec app and apply by following the steps mentioned there.

 By visiting Office: Get information about any nearest Capitec office through the Capitec website: branch-locator and apply for a loan by visiting any branch.

 Through Phone Call: You can also apply for a loan simply by dialing the number 0860 66 77 89 and following the instructions given by the official instructor on a phone call.


The South African Social Security Agency (SASSA) offers several grants to their citizens but they do not provide any kind of loans or debt for finances. So, if anyone wants debt, by law the lenders must have to display their NCR certificate. If you do not see that then there must be something wrong. Now in South Africa, the National Debt Advisors (NDA) provide a comprehensive solution to their clients about debts. You can get advice from debt solution providers through debt advice, debt management, and debt counseling services.

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