To get a Fundi student loan, the person borrowing must be permanently employed by government, a municipality or a company that has a salary-deduction arrangement with Fundi, be at least 18 and younger than 65, and not be under debt review, sequestration or administration. You also need a quotation or fee statement from the institution the student is registered with.
That employment rule is the requirement most applicants miss. A Fundi student loan is repaid through deductions from the borrower’s salary, so the borrower is usually a working parent or guardian, or an employed student paying for their own studies. A full-time student with no job cannot normally take the loan in their own name.
Eligibility Requirements at a Glance
Fundi lists these qualifying requirements on its student loans page:
- Employment: permanent employment with government, a corporate entity or a municipality, with a contract in place for salary deductions
- Age: 18 years or older and under 65
- Financial standing: not under debt review, sequestration or administration
- Proof of cost: a quotation or fee statement from the institution
Meeting these criteria makes you eligible to apply. It does not guarantee approval: every application still goes through Fundi’s credit and affordability assessment.
Fundi offers several loan types, and the same core requirements apply to each: a study loan (tuition, registration, laptops and study materials), a short course loan, a student accommodation loan, executive education and MBA funding, and a study tools and devices loan.
Income and Affordability Requirements
Fundi does not publish a minimum salary. What counts is whether the borrower’s income can carry the monthly instalment after existing debts and living costs. Fundi states that the final interest rate, fees, instalment and first repayment date all depend on its credit assessment and affordability evaluation under the National Credit Act.
Because repayments come off your salary, your employer must have a salary-deduction contract with Fundi. If you are unsure whether yours does, ask your HR or payroll office, or call Fundi before you apply.
Fundi’s online loan estimator currently lets you model amounts from R500 to R250,000 over 3 to 36 months. It shows an estimated instalment, interest, initiation fee and monthly service fee for the options you choose. These figures are illustrations, not a loan offer.
Credit and Financial Requirements
Anyone under debt review, sequestration or administration is excluded outright. Beyond that, Fundi checks the borrower’s credit record and existing repayments as part of its assessment. Arrears or a heavy debt load can lead to a smaller amount than you asked for, or to a decline.
Before you sign, look at what the loan will cost you in total, not only the monthly instalment. The total includes interest, an initiation fee and a monthly service fee. A longer term lowers the instalment but increases what you repay overall.
Documents and Verification Required
To complete an application, Fundi asks for:
- A fully completed and signed Fundi loan application form
- A certified copy of your ID, certified within the last 3 months
- Your latest salary slip, not older than 3 months
- A quotation or fee statement from the institution you are registered with
These documents belong to the borrower, not the student. If you are a parent funding your child, the ID and salary slip are yours, and the quotation must be for your child’s studies.
How to Apply and Improve Approval Readiness
- Confirm that your employer has a salary-deduction arrangement with Fundi.
- Get a current quotation or fee statement from the institution for the costs you want funded.
- Use the estimator to find an amount and term you can afford.
- Apply online through loans.fundi.co.za, through the Fundi mobile app, by calling the Fundi call centre on 0860 55 55 44, or at a Fundi branch.
- Submit the signed application form, certified ID, salary slip and quotation, and wait for the credit and affordability outcome.
To improve your chances, bring any arrears up to date before applying, and ask only for the amount on the quotation. Make sure your ID certification and salary slip fall within the 3-month limits, because out-of-date documents are a common cause of delays.
Also check free funding first. NSFAS, bursaries and your institution’s own payment plans do not charge interest the way a loan does. Fundi also runs a separate Bursary Support Programme for bursary holders, and that is not a loan.
Frequently Asked Questions
Can a full-time student get a Fundi student loan?
Not in their own name, unless they are permanently employed by an employer with a salary-deduction contract. Usually a working parent or guardian applies instead and provides their own ID and salary slip.
Is a Fundi loan the same as a Fundi bursary?
No. A Fundi student loan must be repaid with interest and fees. Bursaries that Fundi administers or supports for other funders are a separate product with their own criteria.
What can a Fundi student loan pay for?
Depending on the loan type, it can pay for tuition, registration, study materials, laptops and other devices, short courses, executive education or MBA programmes, and student accommodation.
Is there a minimum salary for a Fundi loan?
Fundi does not publish one. Approval and the amount you get depend on its affordability assessment of your income, expenses and existing debt.
Can I apply if I am under debt review?
No. Fundi’s criteria exclude anyone under debt review, sequestration or administration.
How long can I take to repay?
Fundi’s estimator currently offers terms from 3 to 36 months. The term you are offered is confirmed only after the credit assessment.
This page is general information and not financial advice. Fundi’s criteria, fees and loan terms can change, so confirm them with Fundi on 0860 55 55 44 or at loans.fundi.co.za before you apply. See loan requirements and browse all finance and funding requirements.