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FinChoice Loan: 2024 Review | Apply Online

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If you want quick credit that’s easily accessible on your mobile phone, you can conveniently apply for a FinChoice personal loan online.

Our FinChoice loans review explains everything you need to know about this loan company to help you decide if its products are right for you.

✅ How Much Do You Need?


FinChoice SA Pty is a financial services company and part of the HomeChoice Group, one of the largest home shopping retailers in Southern Africa. The company offers loans and insurance through a digital platform. The financial institution was established in 2007 and currently has headquarters in Cape Town.


  • MobiMoney facility (up to R10 000)
  • Personal loans, including a Flexi Loan with amounts of up to R40 000
  • Loan terms range from 1 month to 6 months up to 36 months
  • The interest rate will be specified in your loan agreement
  • Personal Protection Plan provides cover in case of job loss, disability or death


✔️Easy application

✔️Self-service function

✔️Same-day withdrawals available via the MobiMoney facility

✔️You’re allowed to skip a payment

✔️You can return the loan within 14 days at no extra cost


❌Shorter repayment periods


The lender provides a lot of convenience with the MobiMoney facility and helps customers save through KwikServe®. This is a USSD platform that allows you to manage your loan account without the need for data. It has several interesting features, such as KwikAdvance® (you pay back the money on your next payday), KwikDraw, and KwikSkip.


A digital financial services provider that makes it easy for South Africans to get quick online loans.


  • Need a smaller, almost-instant loan
  • Can afford to pay off the loan quickly
  • Want extra perks, such as skipping a payment when you have a difficult month

Full FinChoice Personal Loans Review

Here are some details worth knowing before you apply for a FinChoice loan online.

finchoice loan offer

Pros Explained

The application process is straightforward

You can quickly register for Mobi online for free. Once you have a Mobi account, you can submit your personal loan application online without travelling or collecting forms.

The self-service function makes life easier

The self-service function is available via Use your unique username and password to log in and manage your account anytime, from anywhere, at a low cost.

You can get a payment break

It’s possible to skip a payment if you have made at least one payment and are not behind on your instalments. You can apply to skip a payment online through Mobi or request a KwikSkip via KwikServe. Alternatively, you can complete the action by contacting the call centre via call (0861 346 246) or SMS ‘Skip’ to 083 8555 700.

It takes as little as 24 hours to receive money

The money will show up in your bank account within 24 hours if you complete your online loan application and submit all the required documents before 3 pm.

You can return the loan if you’re not happy with it

If you have taken out a personal loan, you have 14 days to return the money if you’re unhappy with the deal.

Cons Explained 

Long term and large loans are only available for existing customers

FinChoice MobiMoney™ offers loan terms of up to 3 months, while you only get up to six months with a Flexi loan. You’ll need to be an established customer to unlock more flexible options.

How Do FinChoice Loans Work?

How does this lender work? There are two main options to choose from:

Mobi Money Loan

  • The Mobi loan is a flexible option that gives you access to credit whenever needed (credit line). 
  • You can activate your account online and access the facility anytime, anywhere.
  • Loan amounts range from R100 to R10 000.
  • Same-day withdrawals are available.
  • Choose a one month loan, two month loan, or three months loan.
  • You only pay for the amount you borrow.
  • MobiMoney™ also gives you access to airtime, data, and electricity 24/7.

FinChoice Personal Loan

  • The 6 month Flexi Loan lets you apply for R8000, payable within 6 months.
  • Once you pay this off, you can qualify for more (up to R40 000)
  • Repayment terms range from 6, 12, 24 or 36 months.
  • You can skip a payment if you’re having a difficult month.
  • You can also return the money within 14 days if you’re not happy with the loan (no charge).

Interest rates are regulated by the National Credit Act (NCA). The interest rate you get will be specified in your loan agreement and likely tailored to your credit profile. Be sure to read and understand your loan agreement thoroughly before signing on the dotted line.

Is FinChoice a Safe and Trusted Option?

Finchoice Africa Limited is a registered credit provider and an authorised financial services provider. As a responsible lender, FinChoice will only offer you a loan amount you can afford to help you avoid financial difficulties. 

In addition, and KwikServe® are both secure since you can only access your account with a registered cellphone and pin code. The lender keeps your information and personal documents confidential to protect your privacy. 

Lastly, it helps to check out FinChoice loans reviews before applying to determine if the products are right for you.

How to Apply for a FinChoice Loan

finchoice loan option

What You Need to Qualify

  • Cellphone number
  • Valid South African ID
  • Proof of income in the form of 3 most recent payslips, bank statements or pension slips

Loan Application Process 

Here’s how to complete your loan application online:

Step 1: Register for MobiMoney™ if you’re new. Login to your online account if you’re an existing account.

Step 2: Upload your documents. You don’t have to upload your bank statements if you bank with ABSA, Nedbank or Standard Bank. The lender will retrieve these documents directly from your bank. If you bank with FNB or Capitec, you’ll have to email the documents directly. Ways to send your proof of income documents include:

  • Emailing them to
  • Faxing to 021 680 8257
  • Uploading it to

Step 3:  Once you complete your loan application and the lender receives all required documents, they’ll transfer the funds into your account. You’ll receive a confirmation SMS once the funds are available.

FinChoice Loans Contact Details

📌Contact number: 0861 346 246 (business hours only)


📌Address. 78 Main Rd, Wynberg, Cape Town, 7800, South Africa

Other Loans Like FinChoice

If you want to compare your options, there are similar lenders, including the following:

  • Wonga loans. Wonga also offers online applications. However, loan amounts are limited – up to R4000 for new customers and up to R8000 online. Loan terms are 3 months maximum for new customers and up to 6 months for existing customers.
  • Capfin loan. Capfin offers loans of up to R50 000 with 6 or 12 month repayment terms. You can apply online, via SMS, or visit your nearest PEP or Ackermans store.
  • Boodle loans. Boodle quick loans range from R100 to R8000 with a maximum repayment period of 6 months.

Frequently Asked Questions

How do I borrow money from FinChoice?

How to apply for a loan at Finchoice? You can apply via FinChoice Mobi or connect to KwikServe by dialling *120*1048# to access the services you need. When applying online, all you need to do is complete the Finchoice loan application form and wait for a decision.

What is the maximum loan at FinChoice? What is the minimum loan limit?

The maximum loan amount at FinChoice is a personal loan of up to R40 000, available to existing customers. The minimum loan limit is R100.

How long does FinChoice take to pay out after approval?

How long does a Finchoice loan take to be approved? Once FinChoice receives all your documents, they’ll immediately transfer the money. If you submit your documents before 3 pm, the funds should reflect within 24 hours. You can always check your Finchoice loan application status by logging into your account.

For faster approval, it helps to submit your documents every month. That way, you can get an instant approval decision, so the money reflects in your bank account sooner.

Watch: You can do so much more with FinChoice Mobi.

Our Research Expert

Gracie Makowe is a full-time personal finance writer with 10 years of experience and a Bachelor of Commerce in Financial Management from UNISA. Learn more.