To get a Fundi study loan, the person borrowing must be permanently employed by government, a corporate entity or a municipality, with a contract in place for salary deductions. They must also be 18 or older and under 65, and must not be under debt review, sequestration or administration. You need a quotation or fee statement from the institution the student is registered with.
Fundi states that it exclusively offers study loans to government workers or employees of companies that have agreements with Fundi. That means the borrower is usually a working parent or guardian, or an employed student paying for their own studies, and a student with no job cannot normally borrow 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: approval is subject to Fundi’s affordability, credit and verification checks.
Fundi shows several loan types: short course loans, study loans (tuition, registration, laptops and study materials), a student accommodation loan, executive loans and MBA funding, and study tools and devices loans. The institution must also be accredited with Fundi; if it is not, the application shows an accreditation message and you should ask the institution about it.
Income and Affordability Requirements
Fundi does not publish a minimum salary. The person who will repay the loan completes the application themselves, and the student (the beneficiary) is captured separately. The loan amount is calculated from the applicant’s net salary, living expenses and debt repayments.
Because repayments come off salary, the employer must have a salary-deduction contract with Fundi. Fundi does not publish a list of those employers, so ask your HR or payroll office, or contact Fundi, before you apply.
Fundi’s online loan estimator lets you model a loan. Its limits depend on the loan type: study, laptop or tablet and MBA loans from R500 to R250,000; accommodation and book loans from R500 to R100,000. Terms run from 3 to 36 months for study and laptop loans, up to 18 months for accommodation and up to 60 months for MBA loans. The estimate is indicative only; final approval, rates and terms are subject to assessment and verification.
Credit and Financial Requirements
Anyone under debt review, sequestration or administration is excluded. Fundi Capital (Pty) Ltd is a registered credit provider under the National Credit Act (registration NCRCP158), so affordability and credit checks apply to every application.
Before you sign, look at what the loan will cost in total, not only the instalment. Fundi’s terms allow an initiation fee (paid on signing, upfront or added to the account without interest), a monthly service fee, and credit life insurance where applicable, plus default administration charges and collection costs if you fall behind. The rate is shown as an APR before you accept, and Fundi does not publish a fixed rate in advance. Repayment is by one debit order on your salary date covering the instalment and insurance premium.
Documents and Verification Required
The application asks for:
- A certified copy of your ID
- A copy of your latest salary slip
- A quotation or fee statement from the institution confirming the fees for the course
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. Fundi may ask for further documents. Uploads can be PDF, PNG, JPG or JPEG; check the file size limit shown in the application.
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 at loans.fundi.co.za. The application takes you through your details, banking and employment details, the student’s details, the loan amount and costs, your offer, the contract and the supporting documents.
- Submit your certified ID, salary slip and quotation, and wait for the outcome of the affordability and credit check.
The loan is paid directly to the institution or service provider. It may only be used for educational purposes and cannot be converted to cash. To improve your chances, bring any arrears up to date before applying and ask only for the amount on the quotation.
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 lists bursaries from funders on its separate BSP portal; those are not loans and have their own requirements.
Frequently Asked Questions
Does Fundi pay the institution directly?
Yes. The loan is paid directly to the institution or service provider, may only be used for educational purposes and cannot be converted to cash.
Can a student apply on their own?
Only if the student is permanently employed by government, a municipality or a company with a salary-deduction agreement with Fundi. Otherwise a working parent or guardian who meets the employment rule must apply, and Fundi’s contact form asks whether a government-employed family member can apply on the student’s behalf.
Does it cover accommodation and textbooks?
Fundi shows a student accommodation loan and loans for study materials, laptops and other study tools. Each loan type has its own amount and term limits in the estimator, so choose the type that matches the cost.
What is the most I can borrow?
In Fundi’s estimator, study loans run from R500 to R250,000 over 3 to 36 months. Your own limit depends on the affordability assessment of your salary, expenses and debts.
Can I repay a Fundi study loan early?
Yes. Fundi’s terms allow additional or early payments without penalty, although early settlement ends credit life cover. Ask Fundi for a settlement quote on 0860 55 55 44.
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.