• What is the credit cost multiple?

    The credit cost multiple is the calculated value that indicates the total cost of your loan. In other words, it is the total of all your instalments divided by your total loan amount.

  • What is net income?

    This is the money that gets paid into your bank account every month after deductions like tax, UIF, medical aid or pension.

  • What is gross income?

    This is the money you earn from your salary every month before any deductions have been made.

  • What is the FinChoice Personal Protection Plan?

    The FinChoice Personal Protection Plan is an insurance policy that covers you in the event of your death, disability or loss of income.

  • What is a debit order mandate?

    A debit order mandate refers to the permission given by a customer to a service provider to automatically deduct money from their account. In this case, a debit order mandate would allow FinChoice to deduct your loan payments from your bank account each month without you having to do a thing.

  • What is an interest rate?

    On a loan, the interest rate is the fee you pay to the company you borrowed money from. The interest rate is calculated as a percentage of the full amount you borrowed and it will need to be paid back with the original loan amount.

  • What is sequestration?

    Sequestration is the process by which an insolvent person applies to the High Court of South Africa to write-off 80% of their debt.

  • What is insolvency?

    You are considered insolvent if your debt is more than your income.

  • What is administration?

    Administration is a legal process to help you when you aren’t able to make your debt repayments. A debt administrator (usually a lawyer) will arrange for your debt to be paid back in smaller amounts over a longer time, however paying back your debt this way will take longer than debt review.

  • What is debt review?

    Should you reach a stage in your life where you are unable to pay back your loans, a debt counsellor will assist you in negotiating with your creditors (the companies you owe money to) to reduce the amount of each instalment and pay your loans back over a longer time.

  • Does FinChoice offer debt counselling?

    Unfortunately, FinChoice does not offer debt counselling services, but we can refer you. Should you find yourself in need of debt counselling, please call us on 0861346246 and we will be happy to point you in the right direction.

  • What are my options in times of financial crisis?

    We advise our customers to contact the National Debt Mediation Association (NDMA) and the National Credit Regulator (NCR) for assistance. The NDMA also provides debt counselling should you need it.

    NDMA Contact details:

    Website: www.ndma.org.za

    0861 11 6362

    NCR Contact details:

    Website: www.ncr.org.za

    Tel: 0860 627 627

  • How to open a Gmail email account

    Step 1: Open your internet browser and type www.google.co.za  into the search bar at the top.
    Step 2: Click on ‘Gmail’ at the top right corner of the page.
    Step 3: Click on ‘Create an Account’ at the bottom of the page.
    Step 4: Enter your first and last names as specified.
    Step 5: Choose a username (the name that will appear in your email address).
    Step 6: Create a password and retype it in the next box to confirm it.
    Step 7: Enter your birth date and gender.
    Step 8: Enter your cell phone number.
    Step 9: Enter your current email address.
    Step 10: Enter your location.
    Step 11: Follow the onscreen instructions to complete the process.

  • How to register for 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 register for finchoice.mobi

    Step 1: Type www.finchoice.mobi into your web browser.
    Step 2: Type in your ID number and cell phone number into the stipulated fields.
    Step 3: Follow the onscreen instructions.

  • How to take a clear photo of your documents if you can’t scan or fax them

    Step 1: Hold your phone directly above your document (not at an angle).

    Step 2: Make sure you can see the whole document at once.

    Step 3: Take the photo, ensuring you can read the whole document clearly.

  • How to submit/send my proof of income.

    If you earn a salary on a regular monthly or weekly basis from an employer, please print, complete and send this form back to us when applying for your loan. Take a photo or scan the documents and send them, along with your ID number and proof of allowance form or proof of income form, to us using one of these methods:

    If you have any questions, please call us on 0861 346 246 and one of our loan approval specialists will be happy to help you.

  • How to send your bank statements if you bank with FNB

    1. Step 1: Register for the FNB USSD channel by dialling *120*321#Step 2: Select ‘2. Banking’, making sure to choose the account your salary gets deposited into, and select ‘SEND’.

      Step 3: Choose ‘2. Statements’ and select ‘SEND’.

      Step 4: Choose ‘2. Email me a statement’ and select ‘SEND’.

      Step 5: Choose ‘4. Last 3 statements (FREE)’ and select ‘SEND’.

      Step 6: Choose ‘1. Continue’ and select ‘SEND’.

      Step 7: Enter our email address: docs@finchoice.com and select ‘SEND’.

      Step 8: Choose ‘1.Confirm’ and select ‘SEND’.

  • How to send your bank statements if you bank with Capitec

    Step 1: Download the Capitec app via your phone’s app store.

    Step 2: Choose ‘save’.

    Step 3: Choose the account your salary gets deposited into.

    Step 4: Choose ‘Email Statements’.

    Step 5: Select the dates for the most recent 3 months, enter our email address (docs@finchoice.com) and choose ‘send’.

  • What can I do with finchoice.mobi?

    Here are a few of the benefits you can expect from finchoice.mobi:

    • 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

  • When can I use finchoice.mobi?

    You only need to be connected to the internet to use finchoice.mobi. If your cell phone has data, but no airtime, or if you are connected to WiFi, finchoice.mobi is just a click away.

  • Is finchoice.mobi secure?

    Absolutely! Access to your FinChoice profile can only be made via your specifically registered cell phone and password.

  • What does finchoice.mobi cost?

    Having a finchoice.mobi account will cost you absolutely nothing! The only costs you’ll incur are minimal cell phone data charges from your service provider, but connect to WiFi and enjoy finchoice.mobi at absolutely no cost at all. Even with any data costs, finchoice.mobi is still cheaper than a phone call or KwikServe.

  • What is self-service?

    With our self-service function, you can access and safely manage your money 24 hours a day, using any computer or mobile device. All you need is your unique username and password to login to finchoice.mobi.

  • What are the benefits of using self-service?

    • Manage your accounts 24 hours a day from any computer or device.
    • Self service is quick and easy to use.
    • The cost of using self service is minimal – all you need is data.
    • Your unique username and password combination make self service completely private and secure.

  • How long does it take for my loan to be paid into my bank account?

    As soon as all the required documentation has been received, we will transfer the funds into your account. If we get all your documents before 3pm, the loan will reflect in your bank account within 24 hours. We’ll send you a confirmation SMS to let you know when your money will be available to you

  • What is the FinChoice Personal Protection Plan?

    By taking out a loan with us, you are automatically added to the FinChoice Personal Protection Plan. What this means is that:

    • Your KwikAdvance loan will be fully paid off in the event of your death, ensuring your loved ones won’t be burdened with any unforeseen debt.
    • If you have a Flexi- or PremierLoan with us, the outstanding balance of your loan will be settled in the unfortunate event of death, disability or retrenchment (depending on your employment status and age)

  • Can I skip a payment?

    Yes, as long as you’ve made at least one payment and your account is up to date. There are a few ways you can request to skip a payment:

    • Login to finchoice.mobi and request the skip online
    • Request a KwikSkip on KwikServe by dialling *120*1048#
    • Call us on 0861 346 246 for the skip to be processed telephonically
    • SMS ‘Skip’ to 083 8555 700 and we’ll call you.

  • How often do I receive a loan statement?

    A loan statement will be automatically sent to you every three months. If you’d like to view a mini statement or check your balance, visit finchoice.mobi, dial KwikServe on *130*1048# or contact our call centre on 0861 346 246 to request an interim statement.

  • How much interest do I pay?

    Our interest rates are regulated by the National Credit Act (NCA). Please refer to the terms and conditions of your loan agreement for more details.

  • Why can’t I increase my loan amount?

    As a registered credit provider in support of the National Credit Act (NCA), FinChoice carries out an affordability assessment that allows us to lend you only as much as you can afford.

  • What is affordability?

    Affordability is a new regulation that has been put in place by the National Credit Act which stipulates that we, as a registered credit provider, can only loan you what you can afford to pay back. All this means is that, when you apply for a loan, we will ask you a few questions about your income and expenses. Before we can transfer any funds, we’ll need proof of your income in the form of your 3 most recent payslips, bank statements or pension slips.

  • How do I send my bank statements if I bank with ABSA, Nedbank or Standard Bank?

    • Due to the relationship we share with these banks, we are able to request you bank statements for you – with your permission and at no additional cost to you.

  • Are there other ways I can send in my proof of income documents?

    Yes, there are. Take a clear photo of your proof of income showing your ID number and send it to us using one of these methods:

    • Email it to us on docs@finchoice.com
    • Fax it to us on 021 680 8257
    • Upload it to finchoice.mobi/docs

    All your information is kept completely confidential ensuring your personal documents remain private. If you need any assistance, or if you have any questions, please give our loan specialists a call on 0861 346 246.

  • Why should I submit my documents every month?

    Even if you aren’t planning on taking out another loan, it will be hugely beneficial to send us your documents every month as you’ll get an instant approval decision when you do need a loan, and the money will be in your account when you really need it.

  • What is KwikServe®?

    KwikServe® is a USSD platform that allows you to effortlessly and efficiently interact with your FinChoice accounts without using data. With KwikServe®, you will be able to:

    • View your loan account balances
    • Apply for a KwikAdvance®
    • Find out how much money is available to withdraw from KwikDraw
    • Request a KwikSkip
    • Take out a personal or family funeral cover policy
    • Update your personal details
    • View a mini statement of all accounts and loans
    • Buy airtime

  • What does KwikServe® cost?

    Standard rates of 20c per 20 seconds apply to all KwikServe® customers.

  • I don’t have a smartphone, can I still access KwikServe®?

    Yes, KwikServe® is made so that you can interact with your FinChoice accounts no matter what phone you have. Smartphones and feature phones are both compatible with KwikServe®.

  • Is KwikServe® secure?

    Yes, KwikServe® is completely private and can only be accessed with your registered cell phone and a specific PIN code.

  • When can I call FinChoice?

    Our call centre is open according to the following hours:

    Monday – Friday 07:30 – 19:00

    Saturday 08:00 – 17:00

    Sunday 09:00 – 14:00

    Public holidays 08:30 – 15:00

    Christmas Day, New Year’s Day, Good Friday – Closed.