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. Fundi states that it exclusively offers study loans to government workers or employees of companies that have agreements with Fundi, 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: 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 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. 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 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. The online 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
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 listed on Fundi’s BSP portal are a separate product with each funder’s 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. It is paid to the institution, not to you.
Is there a minimum salary for a Fundi loan?
Fundi does not publish one. The amount you can borrow depends on its assessment of your net salary, living expenses and existing debt repayments.
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?
It depends on the loan type: Fundi’s estimator offers 3 to 36 months for study and laptop loans, 3 to 18 months for accommodation and 3 to 60 months for MBA loans. The term you are offered is confirmed only after assessment.
Can I settle my Fundi loan early?
Yes. Fundi’s terms allow additional or early payments without penalty. Early settlement ends your credit life cover, and you can get a settlement quote from Fundi 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. If you struggle to repay, you have the right to debt counselling through the National Credit Regulator. See loan requirements and browse all finance and funding requirements.