As each day passes, South Africa keeps losing on the potential of youth who age without being able to access the relevant education and skills that are needed for the sustainability and improvement of the economy.
About – Fundi
This is a problem that hurts the future of our country as many youths continually fail to pay for their education, a situation that may be triggered by low income or lack of employment.
With this, Fundi Verse has vowed to cater for the vast number of South African men and women who see themselves having the potential to succeed through education. We bring student loans that are cheap and affordable to improve the financial muscles of students, giving them enough room to concentrate on their lectures.
WHO IS FUNDI?
Fundi, which is formerly known as Edulaon, is a financial institution which has long operated in the section of educational finance. The company has footprints over Southern Africa and the world, providing the best educational finance services for the better of the people.
The company has been in operation in the area for more than twenty years now, from 19996 up to date we have provided funding to thousands of students with billions of cash and most of these people now have higher profiles in their areas.
WHAT STUDENT LOAN PACKAGES DOES FUNDI OFFER?
Our company is proud to be a leader in educational finance in the whole of Southern Africa. We provide educational loans starting from the primary education level, where we capture clients from private schools, and our services cover the tertiary education up to masters’ degrees.
The educational loans provided here cover the students on outstanding fees, registration, laptops and other related items that students might need for their studies.
Fundi provides educational loans of various amounts depending on the needs and abilities of the loan applicants, and the applicants can access a maximum of R50 000 per year.
WHY FUNDI STUDENT LOANS?
On all financial services that are issued in South Africa, every section has got the best players in it, and the best players are indisputably those who specialise. Fundi specialises in the provision of educational finance like no one else in South Africa.
Over the years, we have gained relevant experience through working with students and their guardians. This has made us aware of what students want for them to succeed in their education.
In addition to that, Fundi is one of the institutions which allow student loan applicants to access their loans in the shortest period. From as little as 48 hours, you will be smiling knowing that your educational funds are taken care of.
WHAT DOES FUNDI STUDENT LOANS COST?
The student loans offered with Fundi come with various costs when one considers interest rates, the applicants can obtain loans with a maximum interest of 13% per annum.
Several factors affect the interest rates that student loan clients will be charged with; these are credit scores, amount of the loan and the length of the term which an applicant chooses.
When student loans are issued with a longer term, the interest rates become higher, and the interest rates, however, become smaller with higher loan amounts.
HOW ARE THE FUNDI STUDENT LOANS REPAID?
The student loans come with variable repayment terms that are depended on the needs of applicants and the abilities of the clients.
Normally, our student loans come with an annual repayment that is structured into smaller monthly instalments that are paid using the direct debit system from the bank account of the client.
Unlike other providers that only initiate repayments after the term of the study, Fundi’s student loans are paid during the course of the studies.
At Fundi, all educational loan applicants should be students or sponsors of students, these people should have a regular income that is received through the banking system on a monthly basis.
The student loan applicants should be South Africans or residents who have valid passports with permits. In addition, applicants should be adults who are above the age of 18 years at the same time holding a good credit score.
The following documents will be needed during the application
- A national identity document or a valid passport with a permit
- Proof of residential address that is not older than three months
- Proof of income
- Three months’ stamped bank statement
- Proof of student’s admission with a registered tertiary institution
HOW TO APPLY FOR FUNDI STUDENT LOANS?
Fundi facilitates both online and paper based applications. Similar to personal loans, student loans will require applicants to fill application forms with their personal and financial information before submitting the required documents.
The applicants will need to wait for our credit team as it decides on the amount to be provided for a student. As soon as the credit team finalises assessment, the funds will be made available through the tertiary education bank account, paying the educational requirements of the applicant.