Minimum and maximum loan periods vary between 1 months and 10 years. Comparison interest rates vary between 6.55% and 60% p.a. Total interest repayments vary between R685.05 and R844.12 over the life of the loan. *Comparison rate is based on an unsecured loan of R20,000 for a term of 3 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. These rates can change without further notice. All rates quoted are per annum. For more information regarding fees click on "View fees & additional info +" for each product or contact the provider.
Capfin loans: Find out how to apply and benefit today
Capfin specialises in short-term personal loans for South Africans, which is why you might want to work with them. If you need extra money quickly, getting a Capfin loan line is a simple, convenient, and easily accessible option. Before you work with them, here’s some background information that helps you to confirm Capfin’s trusted reputation:
- They are a credit provider with a valid Registration number – 2011/126985/07 – NCRCP11812.
- This credit provider has been operating since 2010, and has made loans affordable for many South Africans.
- Their customer service is reliable and well-built. You can visit their offices in Cape town, SMS, call, use USSD, email, fax or ask them to call back if you have any enquiries. In addition, they have LiveChat and detailed contact information on their website.
Next, let’s look at the advantages of Capfin loans and how you can apply and get the same benefits.
Advantages of Capfin loans
- You can access credit via digital means when you apply online. That means, with an internet connection, you can apply for a Capfin loan online from any place and at any time.
- The Capfin loan online application is safe and secure, and all your personal details are protected.
- If you don’t have access to the Capfin website, you can still apply by sending an SMS or going to the nearest PEP or Ackermans store.
- They have a quick approval process, and you can usually expect money in your bank account within 48 hours.
- You can make early repayments for your Capfin personal loan without being charged a penalty fee.
- There are no hidden fees – interest rates and all charges will be clearly communicated to you.
- Communication with Capfin is available via English, Xhosa, Zulu, Afrikaans, and Sesotho, which are common languages in South Africa.
How do Capfin personal loans work?
You can borrow as much as R50 000 from Capfin, and loan terms go up to 24 months. When you apply, Capfin usually gives you a quote that shows the loan amount you can borrow. If you earn more and have a good credit score, you can get approval for a larger loan amount. Capfin is a responsible lender, so they will always carry an affordability assessment to ensure they give you an amount you can afford to pay back.
What are the Capfin loan requirements?
In line with the National Credit Act, Capfin requires the following before they can approve your loan:
- Valid SA ID to prove that you have citizenship;
- The latest payslips or bank statements for 3 months;
- Permanent employment with a regular, monthly salary;
- A working South African phone number where you can be contacted;
- Valid SA bank account that receives your monthly salary; and
- Minimum age of 18 years.
How to make a Capfin loan application
There are three ways to make a Capfin loan application. With more options, you are guaranteed to find an application process that suits your particular situation.
You can start the application on this page. In the comparison tables above, select the “Go to Site” button next to the Capfin personal loan option. You will be automatically directed to their webpage. Next, click on the “Apply Now” button.
However, before you can begin, you must create an account with Capfin if you already don’t have one. This is simply a matter of providing your personal details such as full name, ID, email, and phone number. After that, you can complete the process by uploading the required documents and following the easy-to-understand instructions.
This is done by sending Capfin an SMS. You might have to talk to a representative to finalise the application.
PEP and Ackermans application
Do you have a PEP or Ackermans close by? If yes, you can walk in and apply for a Capfin loan. The cashier will guide you through the process. After that, you simply wait for the arrival of your SMS.
How do I submit my documents to Capfin during the loan application process?
To complete your Capfin loan application, you’ll need to submit your documents using the following options:
- You can upload the documents by selecting the “Upload” tab when you apply online.
- A cashier will scan the documents for you when you apply via PEP or Ackermans.
- After applying, you can attach the documents in an email and send the mail to email@example.com. You have to use your ID number as the subject line for this option.
- The documents can be faxed to 0866880000 along with your written ID number as a reference.
- If you bank with ABSA, Standard Bank, or Nedbank, your documents can easily be accessed once you give Capfin permission.
Is there a Capfin personal loan calculator?
CompareLoans offers you a way to calculate your monthly repayments with the Capfin loan calculator. Ideally, using the calculator should be done before you apply since you can check if the amount you want is affordable. You can also calculate how much of your salary or income will be left over after the repayment. The calculator results will, therefore, help you pick a better loan amount and term.
What are the Capfin loan interest rates?
Capfin offers personalized interest rates that are fixed and calculated on the daily balance of your loan. To get lower rates, your credit score must be high. A positive credit history with a good credit is proof that you can be trusted to pay back your loan on time based on past behaviour.
How to make your monthly repayments
Typically, Capfin claims your monthly repayments from you via debit order. This is why they require you to use the same account that receives your monthly salary. When your salary comes in, the amount due gets deducted automatically from your bank account. It is important to ensure your account has sufficient funds to process the debit order since failure to repay your loan as agreed can negatively affect your credit score.
Capfin Reviews: Are they good?
Finally, you might want to hear what other customers have to say about Capfin. For this, carrying out some research over the internet is very helpful. As a second option, you can check with other Capfin customers to check if they were happy with the service they received. However, since Capfin is a registered credit provider that has won some awards and has plenty of experience, it is expected to have good and positive reviews.
Apply for a Capfin personal loan
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