SASSA GrantAdvance

Great news for the beneficiaries of the SASSA SRD grant! You can now collect R1000 in advance from your SASSA SRD payment or as a loan from TymeBank, the bank that serves your SASSA entrances as their clients. 

This is a service each client of the bank can get, and it directly affects the clients of the SASSA SRD grant. In essence, there is an opportunity for you to collect an advance of cash that is 100% linked to your SASSA SRD grant. Let me tell you how this exactly works.

What is SASSA GrantAdvance by TymeBank?

TymeBank has launched GrantAdvance, a feature, especially for the beneficiaries of the SASSA SRD grants.

It works like this: If you are receiving your SRD grant via TymeBank, and you find yourself in need of cash before the next grant payment is due, you can apply for the advance. It will give you R1000 more than your current bank balance. 

But be advised: this is an advance, a loan. And while you will not be charged interest nor will you be charged a “fee” to access the advance, the amount you will have to pay back is deducted automatically from your TymeBank balance the moment your next SASSA grant payment is deposited.

How Does GrantAdvance Work?

The GrantAdvance feature is essentially a loan from TymeBank to SASSA beneficiaries, but it’s not a conventional loan. It’s a cash flow solution that TymeBank offers to its customers who really need money now but can’t wait until their next governmental cash transfer arrives. 

When your next SASSA grant is deposited into your TymeBank account, the bank automatically deducts the loan amount from your grant. 

For example, say your SASSA grant payment is due in 20 days, but you need money urgently. You apply for the GrantAdvance and receive R1000 in your TymeBank account. Once your SASSA payment is deposited, TymeBank automatically deducts the R1000 loan amount from it. You receive the remaining balance of your grant after the deduction.

How to Apply for TymeBank SASSA GrantAdvance?

Applying for the GrantAdvance is simple and can be done through two methods:

• Using the USSD Code (for those without internet access)
• Using the TymeBank Banking App

Apply Via USSD Code

If you don’t have access to the internet, you can apply for the GrantAdvance using your phone’s USSD service. Follow these steps:

1. Dial *120*543# from your phone and press the call button.
2. A menu will appear. Choose option 4.
3. Select the “GrantAdvance” option from the menu.
4. Confirm your request to get the advance.
5. The R1000 advance will be deposited into your TymeBank account instantly.

Apply Via TymeBank Banking App

If you have internet access and a smartphone, the TymeBank app provides a convenient way to apply for the GrantAdvance. Here’s how:

1. Download and install the TymeBank app on your mobile device (available on Google Play Store and Apple App Store).
2. Create an online banking account if you haven’t already.
3. Open the TymeBank app and navigate to the “GrantAdvance” option.
4. Tap on “Check Eligibility” to see if you qualify for the advance.
5. If eligible, tap on the “Apply” button.
6. Confirm your request, and you’ll receive the R1000 advance in your TymeBank account instantly.

These two methods ensure that every eligible SASSA recipient can easily access the GrantAdvance, whether they have internet access or not.

How to Repay the GrantAdvance Loan Payment?

Repayment of the GrantAdvance is completely automatic and hassle-free. When your next SASSA SRD grant payment is deposited into your TymeBank account, the bank will deduct the R1000 loan amount automatically. 

There is no need to manually make a payment or worry about missing a due date. This system ensures that you only borrow what you can afford to repay and avoids additional debt concerns.

F.A.Q (Frequently Asked Questions)

Is there any fee to repay the loan amount to TymeBank?

No, there are no additional fees or interest charges when repaying the R1000 advance to TymeBank. The exact amount borrowed is deducted from your next grant payment.

Can I get the GrantAdvance if I am not using TymeBank for SASSA payment?

No, the GrantAdvance feature is exclusive to SASSA SRD beneficiaries who receive their payments through TymeBank. You won’t be able to apply for this advance if you use another bank.

Who is eligible for the GrantAdvance payment?

Any SASSA SRD grant beneficiary who receives their payments through TymeBank is eligible to apply for the GrantAdvance.

What is the loan amount?

The maximum loan amount available through the GrantAdvance feature is R1000.

Conclusion

TymeBank’s GrantAdvance is a great financial service for SASSA SRD grant beneficiaries who may need cash in a hurry before their official grant payment arrives. It is simple to apply: you can use either a USSD code or the TymeBank app. This feature allows eligible beneficiaries to access funds without unnecessary delays. There are no additional fees, and no interest is charged.

Apply for GrantAdvance today and get the SASSA payment in advance to fulfil your urgent needs.