Finchoice Loan Application: How To Apply For Finchoice Loan

finchoice loan how to apply for finchoice loan

last Updated on July 10, 2023

Embark on a financial journey that merges possibility and opportunity as we delve into the world of Finchoice loans in South Africa. Are you yearning to bridge the gap between dreams and reality? Are you ready to turn your aspirations into achievements?

In today’s fast-paced world, financial emergencies can arise at any time. Whether it’s unexpected medical expenses, home repairs, or educational fees, having access to quick and convenient loans can be a lifesaver.

Finchoice offers a range of loan options tailored to meet your specific needs. With a Finchoice loan, you you can bridge financial gaps, seize new opportunities, or pursue your passions.

Our comprehensive guide will empower you with the knowledge and tools to make it happen. From how to easily apply for a Fintech loan, to its available repayment options, and interest rates, you will learn all you need to about Finchoice loans can ease your financial constraints.

What is FinChoice?

FinChoice is a loan service provider based in Cape Town, South Africa. It’s a unit of the HomeChoice Group and fully approved by the National Credit Regulator. Not only are their loan options flexible but they also provide funeral plans for existing and one-time customers.

For new customers, FinChoice offers loans of up to R40,000. But here’s the exciting part – even if you’re already an existing customer with a loan, you can still apply for a new one.

What are Finchoice Loan Requirements?

Before applying for a FinChoice loan, it’s essential to familiarize yourself with the requirements. 

To be eligible for a FinChoice loan, you must:

  • Be a South African citizen or permanent resident.
  • Be at least 18 years old.
  • Have a valid South African ID.
  • Have a bank account.
  • Have a regular source of income and recent payslips.
  • Must be a regular HomeChoice customer.

How To Apply For A Finchoice Loan

Are you in search of financial solutions to fuel your dreams and aspirations in South Africa? Look no further than Finchoice loans. Discover a world of possibilities as we guide you through the process of accessing the funds you need. With a seamless online application process and flexible repayment options, Finchoice offers a bridge to your financial goals. Whether you're planning a business venture, pursuing higher education, or facing unexpected expenses, Finchoice is here to support you every step of the way. Say goodbye to financial constraints and hello to a brighter future with Finchoice loans in South Africa. Take the first step towards realizing your dreams today

Applying for a FinChoice loan is a straightforward process that can be done online. Here’s a step-by-step guide on how to apply for a FinChoice loan:

1. Visit the FinChoice Website

To begin the loan application process, visit the official FinChoice website. Ensure that you are accessing a secure and legitimate website by verifying the URL and security certificates.

2. Choose your Loan Type

FinChoice offers three types of loans: 

  • Personal loans: A personal loan from FinChoice can be used for various purposes, such as debt consolidation, home improvements, or unexpected expenses. The loan amount can range up to R40,000 for new customers.
  • KwikAdvance: a short-term loan that provides quick access to funds before your next payday. It offers smaller loan amounts and is designed to bridge the gap between paychecks.
  • MobiMoney: is a credit facility that allows existing FinChoice customers to top up their existing loans or apply for a new loan even if they already have an existing one.

Evaluate your financial needs and select the loan type that best suits your requirements.

3. Calculate your Loan Amount

Using the online loan calculator provided on the FinChoice website, enter the loan amount you need and the desired repayment period. The calculator will display an estimate of your monthly repayment amount, including interest and fees.

4. Complete the Online Application Form

Once you have decided on the loan type and loan amount, proceed to fill out the online application form. The form will require you to provide personal information such as your full name, contact details, employment information, and monthly income.

Ensure that you provide accurate and up-to-date information, as any discrepancies may affect the approval process.

5.Submit Supporting documents

After completing the application form, you will be prompted to upload the necessary supporting documents. These documents typically include:

  • A copy of your South African ID document or passport
  • Proof of residence (e.g., utility bill or bank statement)
  • Proof of income (e.g., recent payslips or bank statements)

Make sure the documents are clear and legible before uploading them. Incomplete or unclear documentation may delay the approval process.

6. Review and Accept the Loan Offer

Once you have submitted your application and supporting documents, FinChoice will review your information and perform a credit assessment. This ca take minutes or a couple of hours at most. 

If your application is approved, you will receive a loan offer detailing the loan amount, interest rate, repayment terms, and any applicable fees.

Carefully review the loan offer, including the terms and conditions, to ensure you understand the obligations and responsibilities associated with the loan. If you agree to the terms, you can proceed to accept the loan offer.

7. Loan Disbursement

After accepting the loan offer, FinChoice will process the loan disbursement. The funds will be deposited directly into your designated bank account. The time it takes to receive the funds may vary, but it is typically within hours. 

8. Settle/ Repay Your Finchoice Loan Repayment

Once you have received the loan funds, you are responsible for repaying the loan according to the agreed-upon terms. FinChoice offers various repayment methods, including debit orders, EFT, or salary deductions.

Ensure that you make timely repayments to avoid any additional fees or penalties. Late or missed payments can negatively impact your credit score and future loan applications.

Finchoice Loan Interest Rate

The Finchoice loan interest rate is around ~21% in South Africa.

How do I know if my Finchoice Loan is Approved

You can view the status of your Loan and see if it has been approved or is still pending if you are registered on The Loan status can be viewed from the date the application was submitted. You can accept your DebiCheck debit order mandate with just a few clicks on this screen. Your Loan status will then update automatically.

How Long does it take to Receive a Finchoice Loan in my Account?

It takes only a few hours for Finchoice loan to credit your account with your loan amount. After which you have between 6 -12 months to pay back.

How do I contact FinChoice?

To contact a Finhchoice customer care representative, call 0861346246 within working hours.

You can also reach FinChoice customer care agents on their website.


FinChoice provides accessible and flexible loan options for South African borrowers. To benefit from its loan services, review your eligibility, create an account, select the appropriate loan product, complete the application form accurately, and submit it for assessment. 

Once approved, carefully review the loan offer terms and ensure timely repayments to maintain a positive financial standing.

It’s important to note that while Finchoice strives to provide accessible loan solutions, it is essential to borrow responsibly and only take out loans when necessary. 

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