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RAF Bridging Finance

GET A PORTION OF THE VALUE OF YOUR ROAD ACCIDENT FUND SETTLEMENT UPFRONT

The South African Road Accident Fund (RAF) is designed to compensate road accident victims and their dependants. However, the process of securing compensation can take several years.

HOW LONG DOES IT TAKE THE RAF TO PAY AFTER SETTLEMENT?

Even after both parties have agreed to a settlement or the courts have ordered the RAF to award
you compensation of a specific amount, it can take months before the funds you’re owed are
actually paid out.

Legally, the RAF has 180 days to complete this process.

GETTING BRIDGING FINANCE AGAINST THE VALUE OF A RAF CLAIM

During the time it takes the RAF to pay out, you can get bridging finance against the value of your
RAF claim.

Bridging finance can give you access to needed funds in the months you spend waiting for the
compensation you’ve been awarded.

To secure bridging finance for Road Accident Fund payouts, you’ll need to provide either:

  • a RAF settlement agreement or
  • a court order requiring the RAF to pay you specified compensation.

Speak to a consultant

086 111 2866

or Apply online

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Speak to a consultant

086 111 2866

or Apply online

  • This field is for validation purposes and should be left unchanged.

Find out more about RAF loans and how to secure bridging loans while waiting for an RAF payout.
Have Questions?
Know more and read our FAQ’s or contact us if you have any queries.
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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.

Renewals

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

Collection

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

Non-payment

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)
APR
R10 000 3 months R568.40 R12 902.20 R1 197 R560 60%