S Financial Terms

SASSA Grant

General

A social assistance payment from the South African Social Security Agency (SASSA) provided to eligible citizens including older persons, people with d...

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Secured Loan

Loans

A loan backed by collateral (an asset like a car or property). Because the lender can seize the asset if you default, secured loans generally offer lo...

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Sequestration

Legal

The legal process of declaring bankruptcy in South Africa. A court orders your estate to be surrendered and your assets sold to repay creditors. Seque...

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Short-term Loan

Loans

A loan with a repayment period of up to 6 months. Short-term loans (sometimes called payday loans) typically have higher interest rates and are intend...

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Store Account

Credit

A credit facility offered by retail stores that allows you to buy goods on credit and pay them off monthly. Common in South Africa at stores like Edga...

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