Fundi is a South African education finance specialist. They are a private student loan provider that was established in 1996 under the name Eduloan and later rebranded to Fundi in October 2016.
Fundi aims to provide a solution to access education at an affordable cost to individuals that do not qualify for a loan from a funding institution or formal banking sector. Fundi aspires to help students achieve their dreams by funding your education experience.
They provide funding for the following:
- Accommodation
- Educational tools
- Executive loans
- Educational devices (e-books)
- MBA funding
- Study loans
- Short courses
How to apply for a Fundi loan?
One of Fundi’s core values is to make education finance affordable to all South Africans. Therefore you need to ensure that you meet their requirements before applying for a loan.
Here are a list of requirements that need to be adhered to:
- Either the student or parent must have a permanent job with a government department (Or a large company that works through Fundi)
- Clear credit record
- A copy of a certified South African ID
- A letter from your employer stating that you work for them
- Latest payslip
- 3 months bank statement
To qualify for the loan, students must be 18 years and older.
To apply for a Fundi loan, you must fill in an online application with all your necessary contact details and inform them on what type of loan that you are applying for. Once you have successfully submitted your application, Fundi will process your information and provide you with feedback on your application.
All loans are unsecured and you do not need to provide anything as collateral. After your application has been approved and processed, all educational finances will be paid by Fundi directly to your chosen institution. All your repayments may be deducted from your salary or paid through debit orders.
If you are interested in applying for a loan through Fundi or require additional information you can visit their website at www.fundi.co.za.
