One of the requirements to be able to apply for a student loan with Fundi is that the applicant has a permanent job with a regular monthly income.
To qualify for funding from Fundi, you must be:
- A South African resident with your ID and proof of residence.
- Permanently employed or have a parent who is permanently employed and provide proof of income from the employer and your bank statement.
- You must be in good standing in terms of your credit profile, as you will not qualify if you are under credit or debt review. This is so that Fundi can see you are able to repay the loan.
Fundi aims to make loans more accessible and affordable for students. They do not require you to pay collateral and repayments are deducted from your salary or can be paid through debit orders.
Fundi Loan Requirements:
- You must be a South African resident (and you need to provide proof with your ID and proof of residence)
- You must be permanently employed or have a parent who is permanently employed (this also needs to be proved by providing a letter from your employer confirming this along with your last receipt of salary and your latest bank statements). There is preference to those who are employed by the government.
- Lastly, you must be in good standing in terms of your credit profile as you will not qualify if you are under credit or under debt review. This is so that Fundi can see that you are able to repay the loan that they are providing.
All You Need To Know About Fundi Loans
Fundi is a South African Education Finance specialist. In simple terms, Fundi student loans help students gain access to further education by covering the costs of attending tertiary institutions. It is important to note that Fundi does not offer Fundi bursaries they only offer Fundi student loans.
Fundi covers the following:
- Study loans
- Short courses
- Accommodation loans
- Executive loans
- MBA funding (Master of Business Administration degree)
- Study device loans
- Educational tools
The Fundi Loan requirements are :
- Either the student or parent must have a permanent job
- Clear credit record
- A copy of a certified South African ID
- A letter from your employee stating that you work for them
- Latest payslip and a 3-month bank statement
Students who would like to apply for Fundi will need to fill in the online Fundi application form with all the necessary contact details and inform Fundi of what type of loan you are applying for.
Once you have successfully applied for your Fundi loan, your request will be processed and you will receive feedback as soon as possible.
Students with a successful Fundi Loan application will receive a Fundi card. A Fundi card is like a debit card, but with various allowances to manage your spending on and off-campus.
Fundi has partnered with retail companies, allowing you to use your FundiCard at the following places:
- Shoprite
- Checkers
- PicknPay
- Selected Spur outlets
- Nando’s
- Gallito’s
- KFC
- Make purchases at most campus stores
To check your Fundi Card balance you will need to do the following:
- Register on the Fundi website and log in.
- Dial *134*87646# and choose option 2. You do not need airtime or data to do this.
- Call the Call Centre at 0860 44 33 44 and ask for your balance.
- Visit a campus office and enquire about your balance.
- or log into the Fundi student portal to check your balance
Fundi Loans are unsecured and you do not need to provide anything as collateral. Fundi loan repayments could be deducted from your salary each month or paid by Debit Order.
If you are interested in Fundi Loans, please contact Fundi using the following details:
- Phone number: 0860 55 55 44
- Email: support@fundi.co.za