raf claim settlements

Road accidents are physically and emotionally traumatic for their victims.

The situation is made worse when they don’t have the funds to deal with the financial implications of an accident.

In this situation, a cash advance on an RAF claim settlement can be a lifeline for road accident victims.

The role of the Road Accident Fund

In South Africa, the Road Accident Fund (RAF) is the statutory body mandated to provide compensatory relief to victims of road accidents.

The problem is it can take an excessive amount of time for claims against the RAF to be finalised and even longer for the funds to be paid out.

How long does it take the RAF to pay out funds?

In the past few decades, the RAF has consistently underperformed.

Administrative bungling – and a massive backlog of cases – has resulted in accident victims waiting for up to seven years for RAF claims to be processed and approved.

However, that’s not the end of it.

Once a settlement or court order has finalised the matter, it can still take six to 12 months for the funds to be transferred.

In the meantime, victims are expected to fend for themselves.

Financial need while waiting for an RAF settlement

Besides having to come up with the money to cover day-to-day expenses, road accident victims have the added financial burden of costs associated with medical treatment and care.

When, as a result of injury or death, a family is left without a breadwinner, the consequences can be devastating.

How can an individual or family that doesn’t have a steady income, nor any high value assets, survive?

Banks and other institutional lenders are unlikely to carry the risk of offering an unsecured loan.

So where does the financial lifeline come from?

RAF bridging finance: faster access to funds

RAF bridging finance is the obvious solution.

It offers quick and easy access to funds when they’re most needed.

The finance is effectively a cash advance of the money the RAF has officially agreed to pay the victim as compensation.

As such, no collateral is required, no credit checks are performed and the victim’s employment status is immaterial.

Once the RAF settlement funds are eventually transferred to the victim’s bank account, the bridging capital is paid back to the finance provider, along with any fees or interest stipulated in the contractual agreement.

Getting an advance on your RAF settlement with lamna

At lamna, we offer cash advances on RAF settlement claims.

All that’s required to secure the funds is a signed settlement agreement from the RAF or a court order stipulating the amount of compensation owed to you by the RAF.

Once the documents have been verified and you’ve agreed to the amount lamna is prepared to advance you, the funds are transferred into your account.

Why secure RAF bridging finance from lamna?

lamna Financial is licensed by the Financial Services Board (FSB) and registered with the National Credit Regulator (NCR).

Apart from our reputation as a trusted finance provider, we have centrally located offices in South Africa’s major cities.

Our interest rates comply with NCA standards and we support and promote transparency in our funding process.

Call lamna on 086 111 2866 or apply for RAF bridging finance online to get the financial lifeline you need and deserve.

Complete our Online Application Form

Illustrative example

Client borrows R10,000 for 90 days.

Loan Amount Repay Terms Monthly Repayment Total Repayment Initiation Fee Monthly Fee
(Interest + Service charge)
R10 000 3 months R568.40 R12 902.20 R1 197 R560 60%

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APR & Loan repayment period

Fixed rates range from 36% to 60% APR and payment options range from minimum 3 to maximum 24 months. Apart from the initiation and monthly fees shown below, the only additional fee is credit life insurance if the borrower does not have this already.


All accounts may be renewed if they are up to date.


All payments are made via EFT or direct deposits into Lamna’s bank account. There are no debit orders.


Non-payments may result in the matters being escalated.

Illustrative example

Client borrows R10,000 for 90 days.

Loan Amount Repayment Period Monthly Repayment Total Cost of Loan Initiation Fee Monthly Fee
(Interest + Service charge)
R10 000 3 months R568.40 R12 902.20 R1 197 R560 60%