FinChoice is a financial service provider offering flexible loans to South Africans. Their aim is to be the best reliable provider in South Africa. By offering easy access to money and financial products through online loans, they’re able to cut queues and save their client’s time. FinChoice is a financial institution that is part of the HomeChoice group.
If you have a FinChoice account, you’ll be able to manage your personalised loans better and monitor their status on a monthly basis. You’ll also be given access to a full range of financial products and to FinChoice’s new website. It’s always advisable to check online reviews before taking out a loan to be aware of any risks, issues that other people have experience. We reviews the different types of loans available below:
Finchoice Personal Loan Options:
A quick loan of R2 500 is awarded to eligible clients. The loan needs to be paid back on their next payday. This urgent loan can be used for emergency purposes like sudden hospitalisation, or financial circumstances resulting in a difficult month, providing you with fast extra cash often used for to help in financial distress.
FinChoice can loan up to R8 000 through this product. The borrowed money for this type of loan should be repaid within 6 month loan term only.
This is the option for those looking for a bigger amount to be repaid over a longer timeframe. Under this product, FinChoice lends up to R30 000 which can be paid within 12, 24, or 36 months.
If you manage to repay the whole amount within 14 days, there will be no interest rates or fees to be imposed on the loan.
If you keep paying the monthly instalment of these loan products on time, you’ll be allowed to borrow a greater amount the next time you apply again.
How to Apply for a FinChoice Loan Application Online
You can apply for FinChoice loans online. Go to their website and choose either MobiMoney payday loan for an instant loan option up to R10,000 to repay over 1-3 months, or a Personal Loan of upto R40,000 to repay over 6-24 months. There’s an online loan application form dedicated to each product which you have to complete. First you will need to provide the following to get a quote on how much you can borrow:
- Your South African ID number
- Cell number
- Current monthly income after deductions
Once you know how much you can borrow, you can continue with the online application form. For a personal loan you will need to provide some basic details on your current financial status including:
- Proof of residence
- Proof of income documents (ideally showing a stable income)
- Bank statement
FinChoice performs a credit check and affordability assessment on each of their applicants to ensure they can afford what they’re asking for and will be able to make the monthly instalments. FinChoice won’t grant a credit agreement to those who have a high chance of failure to repay the debt on the agreed terms.
Once your application has been approved, expect your money to be transferred to your account within 24 hours. You must be able to submit all required documents by 3:00 PM, though, for this to happen. You’ll receive an SMS to confirm when the money has been deposited successfully into your account.
FinChoice MobiMoney Login
FinChoice.Mobi is a self-service function where you can access and safely manage your money 24 hours a day, using your mobile device browser or computer. You can:
- View your loan account balances
- Apply for another loan
- Apply for a KwikAdvance
- Request to skip a payment
- Update your personal details
- View a mini statement of your loans and accounts
- Take out a personal or family funeral policy
- Upload your personal documentation
- Request a settlement quote
How to Register for FinChoice.Mobi
- Go the Registration Page
- Enter your ID Number and cellphone number
- Wait to receive an OTP code
- Enter in the OTP code and you are now registered
How to Access FinChoice Login
You can go to the FinChoice mobi Login here: https://www.finchoice.mobi/login
Enter your mobi login, this is your cellphone number and password.
Interest & Fees
FinChoice is a registered credit provider and the FinChoice personal loans follow the rules and regulations stated in the NCA. Rates and fees vary depending on the loan agreement and financial product you choose to apply for.
Repayments are done automatically using the bank account you provided during the application process. They will automatically debit the payment from your account.
FinChoice is quite lenient in skipping repayments. Those who completed at least one repayment and don’t have any history of delays during the repayment period can request to skip their next repayment. You can call FinChoice, send them an SMS, or request it through their mobile website. The precise regulations on this will vary depending the repayment term,
One of their major requirements of the loan process is to submit your proof of income. You can send a picture or scanned copy of the document to the email@example.com email address. You can also fax it using the number 021 680 8257. You can also upload it using your FinChoice account.
Make sure your ID number is clearly visible on the copy you’ll be sending to FinChoice to avoid any delays.
FinChoice Contact Details
FinChoice have customer service agents on standby to assist you with your questions. You can reach them at the following number.
Contact Centre Phone Number : 0861 346 246
Take note of the following schedule when you’re placing your call.
- Mon-Fri: 7:30 AM to 7:00 PM
- Sat: 8:00 AM to 5:00 PM
- Sun: 9:00 AM to 2:00 PM
- Public Holidays: 8:30 AM to 3:00 PM
You can also visit their office located at the following address.
Office address: 78 Main Rd, Wynberg, Cape Town, Western Cape, 7800, South Africa
They also have a contact form online where you can send your queries. They’ll call or email you using the details you’ve provided to answer any clarifications you need.
KwikServe is a USSD platform that allows you to effortlessly and efficiently interact with your FinChoice accounts without using data.
How to Register with KwikServe:
Step 1: Have your ID number and cell phone number close by.
Step 2: Dial *130*1048# from your cell phone.
Step 3: Follow the onscreen instructions.
How to Access KwikServe:
You can then Access KwikServe by dialing *120*1048#
FinChoice WhatsApp Number
Finchoice South Africa does not have a published WhatsApp number to contact them on. However, you can send an SMS with the message ‘LOAN’ to 083 8555 700 and they will call you back.
Frequently Asked Questions
Is there a FinChoice Loan Calculator?
If you were wondering how much you can borrow with FinChoice and what the fees / repayments would be over the loan term there is unfortunately not an online calculator with this information, instead you will have to use the fees and rates listed on their website. However, you can look at another online personal loan calculator to calculate the approximate costs.