The Reality of SASSA Loans via Cell Phone

BySASSA Status Check
The Reality of SASSA Loans via Cell Phone

SASSA has been working for years to provide financial stability for those who are living below the poverty line. The organization offers grants in the form of monthly payments to eligible applicants to provide them with ease of mind, when it comes to their finances. Recently the topic of SASSA loans gained attention in 2017 when it was noticed that multiple lenders were demanding SASSA card security for their loans. 

Of course there is nothing like SASSA loans because the organization does not provide loans, instead provides grants for the needy people. If you want to get loans and you are a SASSA beneficiary, you can go with applying for ShopRite or Capitec loans that are available for SASSA beneficiaries. Let’s look in detail about the reality of SASSA loans through cell phones and other relevant information about it.

The Reality of SASSA Loans via Cell Phone

As soon as the alarming situation came into notice when lenders were demanding SASSA cards for security of the loans they were offering to applicants, NCR took notice and did research. It was noticed that lenders were preying on those who are getting social grants particularly pensioners by offering them loans with high interest rates. It is essential to keep in mind SASSA does not offer any type of loans directly instead aims to make the South Africans life easy and stable by providing them with monthly payments in the form of grants.

How To Apply For SASSA Loans Via Cell Phone?

Note, these are not the loans from the South African Social Security Agency directly instead are from a private entity. These loans are available for those who are receiving SASSA grants. Here are the details about the step-by-step procedure that you have to follow to apply for loans if you are a SASSA grant holder.

Eligibility Criteria

You must meet the eligibility requirements to apply for SASSA loans regardless of the type of loan you are applying for. Here are the requirements that you have to fulfill as a SASSA grant beneficiary to be eligible for SASSA loan.

  • You must have to make sure that you are a South African citizen and you have an identity document with you.
  • You should be at least 18 years old.
  • You should be earning your consistent income and should be able to pay back the loan amount.
  • You have to provide the proof that you have a bank account registered in your name.
  • You also have to make sure that you are either receiving an old age pension grant or disability grant from SASSA to apply for SASSA loans.

ShopRite Loans

These are the most affordable loans that have low interest rates. To apply for these loans via cell phone you can simply add their number in your contact list. For that you have to dial +27 600 123 45. Then you have to save it in your contacts and send them a message to initiate the conversation. 

The agency will ask you certain questions and you have to answer them properly to proceed with your loan application. Here is the list of documents that you have to provide if you are applying for ShopRite loans by a cell phone.

Shoprite SASSA Loans- An Added Advantage

You have to provide your residential proof, your income proof in the form of payslip and your valid identity document that should confirm your identity. Moreover, you also have to submit three months’ recent and stamped bank statements.

The collaboration between ShopRite and SASSA allows individuals to receive funds in the form of loans so they can cover unexpected and sudden costs or expenses without extra charges. This means you can cover the financial challenges without getting over burdened. Those looking for quick solutions for their financial needs can apply for ShopRite SASSA Loans as soon as possible.

Capitec Loans

Capitec loans are other low interest rate loans that you can repay on monthly installments. They can give you the choice to get up to R 250 000 loan amount, if you are in dire need of finances. Capitec comes with an application that helps you manage your credit easily. 

In order to apply for capitec loans, you have to look for the official website of Capitec and click on the option of “ways to apply.” Then you have to click on “online” and you will be directed to the application page that you have to fulfill. Provide your correct details and attach the following mentioned documents with your application form. The documents you have to attach includes,

  • Your personal information documents including your identity documents and your marriage certificate. 
  • You have to submit the salary proof in the form of pay slips.
  • You have to submit the bank statement of the recent three months that should be stamped also.

Once you submit your application, your application will be considered by the agency. They will look for your previous debts and your debt to income ratio. The amount of loan you will receive depends totally upon your current income source.

SASSA Loan Application Through USSD

You also have the option of applying for SASSA loans through USSD via cell phone. In order to apply for loans through your mobile,  here is the step-by-step procedure that you have to follow as it is.

  • To do that you have to first dial *130*3737*1# from your phone. 
  • Then you have to enter your ID number and press the call button. 
  • You will receive the instructions on call in the form of prompts. 
  • Then you have to answer the prompts by pressing 1. 
  • As soon as you press one the organization who is providing the loan will get access to your credit check and bank statement. You have to provide them with the pin you got at the ATM for security reasons. 
  • Now you have to enter the total amount of your monthly expense. 
  • You will see a number of options in front of you about grants and loans. 
  • Select the particular loan and grant amount you are looking for. 
  • After finalizing the particular grant or loan you are looking for you will get to know about the approval or declining of your application instantly.

Furthermore, you can also go with dialing *120*3210# or can go with dialing *120*69277# on your phone and then you have to follow the prompts to proceed with SASSA loans.

FAQs 

No, there are no SASSA R 700 loans. It is a scam that was recently noticed and that is circulating on WhatsApp. Do not rely on it and do not fall for these false schemes or loans. If you want to get information about SASSA loans or grants, you can simply contact them on their toll-free contact number that is 0800 60 10 11.

No, SASSA does not provide loans. The South African Social Security Agency SASSA only provides grant payments and does not provide loans to its beneficiaries. If you want to get loans, you can go with applying through other lenders that are providing loans to SASSA grant holders like Capitec, Ithemba or ShopRite. Make sure SASSA only provides grants whereas ShopRite, Itembha and Capitec are intermediaries that are offering loans as SASSA loans to SASSA beneficiaries and there is no direct connection between loans and SASSA.

No, you cannot use someone else’s bank account to receive SASSA money. This is important to provide your bank account information to receive money in order to minimize scams and frauds. You should have to consider your bank account and should provide the information about your bank account with your name to receive SASSA money.

Conclusion

Although you can also apply at the nearest office manually, it is better for you to apply for the loans via cell phone. Remember and keep it in mind that SASSA itself does not provide any loans and it only provides monthly payments in the form of grants to needy people. 

Instead there are certain other loan providers that are offering loans to SASSA beneficiaries in the form of SASSA loans. Make sure to pay attention to the above article to understand the reality of SASSA loans via cell phone and how you can apply for them from your mobile.