SANTAM CAR INSURANCE
Sassa (Social African Social Security Agency) has again announced that commencing from April 1, there will be an increase in the Sassa payments for the various types of Grants available. With the new Sassa Card payments, it allows for one free withdrawal each month from your nearest post office and unlimited use at most retail stores. Sassa card is not a credit card.
- When is the next Sassa Payment Dates
- Sassa Contact
- Sassa Frequently asked Questions
- Sassa Card
- Sassa Loans
If you are considering a loan due to overwhelming debts then you can read more about where to get affordable loans in South Africa. Some of the top loan companies have competitive rates and a flexible payment plan. Here are a few companies which offer loans to Sassa beneficiaries ( subject to the terms of the bank).
StandardBank loans, Absa loans, Oldmutual Personal Loans, Capitec personal loans, debtbusters, and Loan SA. These are just a few companies that offer such products for you.
There will be an increase in the payments made to your card when you receive your payments
- Sassa new Card Payments of R80 increase on old age grant from R1 700 to R1 780 and for beneficiaries over 75 years from R1 720 to R1 800
- Card Payments of R80 increase on disability grant from R1 700 to R1 780
- R80 increase on war veterans grant from R1 720 to R1 800
- R40 increase on foster care grant from R960 to R1 000
- Card Payments of R20 increase on child support grant from R410 to R430 – the grant will increase to R420 on April 1 and to R430 on October 1.
Sassa provides a wide variety of grants for for the citizen in need of assistance. However it is unaccepted to use your Sassa card as a collateral for a loan of any kind. Here are the major types of Sassa Grants you need to know.
Types of grants
Social Assistance is provided in the form of:
• grant for older persons;
• disability grant;
• war veterans grant;
• care dependency grant;
• foster child grant;
• child support grant;
• Social Relief of Distress.
Methods Of Payment
Once your grant is approved, you will be issued with a SASSA payment card. This card is used to access your grant money. If you wish to use alternative methods of payment such as
• Banks including Postbank
• Institutions, you must contact your nearest SASSA office Please note that the SASSA card is the only official social grant payment card.
Social Assistance is an income transfer in the form of grants provided by government. A social grant refers to grants paid by the South African Social Security Agency that is: disability grant; grant for older persons and war veteran’s grant; foster child grant; care dependency grant; child support grant and grant-in-aid.
When is the next Sassa Payment Dates
Sassa payment Dates usually falls on the first day of the month unless otherwise as specified by Sassa through their official media communication channels. Remember that the new Sassa Card is the only Card which is capable of accepting payments this year. Payments can be collected at your nearest authorized banks as well.
About 200,000 people have yet to do the card exchange.
KNOWING YOUR PERSONAL LOANS
Many people are attracted by longer loan terms since these allow for lower monthly installments. But a longer loan term is a double-edged sword. Every extra month is another month that you have to pay an admin fee and interest, and a 72-month loan will cost you significantly more than a 36-month loan.
APPLYING FOR A LOAN, AND CONSIDERING THE LOAN REPAYMENTS
It might be tempting to extend your loan term to bring down your repayments and free up some money. But such a tactic will only cost you more in the long run and should be avoided unless you absolutely can’t make your minimum monthly repayments. Again, a little planning and discipline can go a long way to helping avoid needing to lengthen your loan term.
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Loan repayment terms range from 12 to 60 months. The maximum interest rate with regards to a Budget Personal Loan* is 27.50% per annum (compounded monthly). Your rate and initiation fee will be determined according to your personal risk profile. An illustrative example of a loan at an interest rate of 27.50% per annum would be: Loan amount R50,000.00 plus a once-off initiation fee of R1,207.50 and a monthly admin fee of R69.00, over 60 months. The total cost of the loan will be R98,878.61 which is an Annual Percentage Rate (APR) of 30.98%.