Treasury Announced New Eligibility Criteria for R350

We strongly urge the low-medium income households in South Africa to read this article. As, this article will let you know in detail about New R350 Eligibility Criteria: Treasury is Applying additional Criteria to Determine R350 Eligibility.

New R350 Eligibility Criteria

The SRD Grant will now be implemented through March 2025, according to Finance Minister Enoch Godongwana, who has allocated R34 billion for ongoing payments. Treasury will persist in enforcing stringent criteria to evaluate eligibility, taking into consideration variables such as bank account balances.

In the case that someone is not qualified for the grant, action will be taken to keep them from obtaining it. In an effort to crack down on those who are abusing the system, National Treasury has announced the establishment of two new New R350 Eligibility Criteria.

To dive deeper into the New R350 Eligibility Criteria and understand it in a better way, you must continue to read this article. Here, we are going to discuss about both the current and new eligibility criteria and the importance of R350 grant.

Importance of R350 Grant

The SASSA Social Relief of Distress Grant (SRD 350), is available to both refugees and holders of asylum seeker permits, and is awarded by the South African government to people who are unemployed at the moment. The sum is R350 per month starting on the day it is granted, and it is a Special COVID-19 social grant to provide financial support.

New R350 Eligibility Criteria

First implemented in 2020 to aid jobless people within the pandemic, the SRD award has evolved into an essential means of assistance for millions of South Africans. Presently, almost 7 million people get the award each month from the South African Social Security Agency (Sassa).

A vital first step in getting financial assistance is to apply for the SRD SASSA grant if you satisfy the qualifying requirements and are in need. Applying online is possible through the SASSA mobile application or website.

New R350 Eligibility Criteria Overview

Article Theme New R350 Eligibility Criteria
Complete Name of the Grant Social Relief of Distress Grant (SRD 350)
Provided By South Africa
Administered By SASSA
Amount R350
New Eligibility Criteria Discussed Below
Announced By Finance Minister Enoch Godongwana
More Information Click Here

Treasury is Applying additional Criteria to Determine R350 Eligibility

National Treasury disclosed that two more requirements will be added to the current SRD grant criteria. The additional criteria to determine R350 eligibility was done in order to guarantee that only worthy applicants receive funding.

Making sure that candidates for SRD grants do not have multiple bank accounts is one of the new criterion. Furthermore, the social relief of distress grant is not available to you if you have R670 in your bank account.

The administration worries that people might have many bank accounts and therefore get around the restrictions set in place to guarantee that only worthy people get the grant.

Current R350 Eligibility Criteria

Applicants must also meet certain current eligibility requirements in order to be eligible for the SRD award. They must be jobless and either citizens or permanent residents of South Africa between the ages of 18 and 59. Furthermore, holders of special permits and permanent residents are also qualified to receive the SRD award.

The South African government or any state-affiliated institution should not be providing grant beneficiaries with any kind of support. Recipients of the SRD award are not allowed to be beneficiaries of the National Student Financial Aid Scheme (NSFAS) or the Unemployment Insurance Fund (UIF).

Final Words

In order to ensure that they haven’t found a job in the interim, candidates must continue to reapply for the award every three months, according to Modise. This is because a person’s eligibility for the SRD Grant is lost if their income exceeds the grant’s income level.

According to real figures, just 5.2 million of the 11.3 million applicants who were eligible for the grant after the new requirements were implemented in April were chosen. In contrast, since the R350 handouts were first offered and the qualifying requirements were much less stringent, 10.5 million people have benefited from them.

We are extremely overwhelmed that we were of help to provide you with the latest update on New R350 Eligibility Criteria.

Finance

Leave a Comment