Products and Services

Consumer loans to formally employed government and parastatal staff, within the approved risk profile, of approved products. The loan repayment period ranges from 6 months to 60 months

Qualifying criteria

For clients to qualify for a FAIDIKA loan, he/she will have the following;

• Work for an approved employer with whom FAIDIKA has a deduction code- Primarily Government
• Permanently employed or employed on a contractual basis for a term which is longer than the proposed loan term
• Retirement age should be a minimum of three months prior to the expiry date of the loan contract
• An employee must be actively working
• An employee must have at least six months of service with his present employer
• The aggregate monthly installment of FAIDIKA loans shall at no stage exceed 33.3 % of the monthly net salary, called the affordability calculation
• Employee must have an active bank account in which salary is paid
• Employee must be a minimum age of 18 years and a maximum of 59 years and 3 months.
  Requirements for applying for FAIDIKA loans

For an employee to qualify for FAIDIKA loan from FAIDIKA, the following documents as listed below are required.

• Last 2 salary advice slips as supplied by the employer - (must be original)
• Last 2 bank statements reflecting net salary and not older than one month
• ID/employer card incorporating photograph
• 1 Passport sized photograph
• Letter of introduction from employee granting approval for the loan

Key points/Key advantages of FAIDIKA loans

• No collateral (security) required
• Quick payout time(48 hours loan processing from DES)
• Up to 60 month loans
• Top up facility
• Debt consolidation