Fundi Loan Review

 

Overview

With its head office in South Africa, Fundi is an online loan services provider that is committed to helping students make their dreams come true. The Fundi student loan funds aim to cover all the expenses for tuition, accommodation, learning devices, eBooks, and more. Interestingly, Fundi loan is available for undergraduate studies, postgraduate studies, and MBAs.

In addition to student loans, Fundi offers fund management services to institutions at all levels and Fund Management solutions, including cashless solutions, for Corporate Bursary programs. The loan services provider was launched in 1996. Fundi Loans have successfully assisted over 800 000 families in South Africa in their quest for a career. The broker was initially known as Eduloan until 2016, when it was renamed Fundi loan, following its rapid expansion to include other loan services.

As a B2B education finance specialist, Fundi Loan also offers a special type of fundi study loan that funds one or two small courses that may help you advance your career or studies.  Other essential solutions provided by Fundi loan include the following: cashless FundiCard, Airtime and Data, Bursary Fund Management, Bursary Support Programme, Accommodation Solution, Recruitment, and more.

Pros

• Offers loans that are designed for students
• Easy loan application process
• Responsive client support team
• Cashless solutions

Cons

• Fundi loans are only available for South African citizens/residents
• The interest could become large for long term loans

What Types of Loans Does Fundi Offer?

Fundi offers loans for the following:

• Accommodation
• Educational tools
• Executive loans
• Educational devices (e-books)
• MBA funding
• Study loans
• Short courses

How Does Fundi Work?

Being an unsecured loan, Fundi Loan works very simply, requiring no collateral. The process is seamless: after accepting your loan application, the loan funds will be paid by Fundi directly to the institutions. The repayments are deducted from your salary or paid through debit orders.

How to Use Fundi Loan Calculator?

When applying for a Fundi loan, it is important to use the Fundi Loan calculator to simulate the loan and determine if the loan is right for you. The Fundi Loan calculator is designed to let the loan applicant know the estimated amount he would pay each month, over what term period, and with what interest rate.

The Fundi Loan calculator is easy to use; simply enter the amount you intend to borrow and the repayment duration. Next, you will find a list of options from different credit providers. In this way, you will both get to know the amount you’d have to pay and which company offers the best interest rate.

How Can You Qualify?

To qualify for a Fundi Loan, you must be 18 years old and above. In addition, you will need to provide a copy of a certified South African ID to prove that you are a South African citizen/resident. Other conditions that must be met to guarantee your qualification for a Fundi loan include the following:

• Either the student or parent must have a permanent job
• Clear credit record
• A letter from your employee stating that you work for them
• Latest payslip and three months bank statement

How to apply for a Fundi Loan

The first step to take when applying for a Fundi loan is to log into your Fundi loan account and fill in the online Fundi loan application form. The Fundi loan application form would require you to enter your name, email address, and cellphone number and write a short message informing Fundi what type of loan you want to apply for. Upon submission of your Fundi loan application form, the loan service provider will process your information and reach out to provide them with certain documents for them to decide if they accept your request or not.

Where Does Fundi Operate?

Fundi operates in South Africa, offering educational loan services to residents of South Africa.

How Is Fundi’s Customer Service?

Fundi Loan provides clients with a knowledgeable client support team who are polite and prompt in response. The support team is available to respond to all forms of inquiries that loan applicants may have. You can reach the customer service team through the following contact channels: telephone (0860 55 55 44 and 011 670 6100), email: support@fundi.co.za, and an online call-back form.