Important disclosure

Capitec Personal Loans

Capitec Bank is a leading South African retail bank operating since 2001 and servicing both individuals and businesses.

Capitec’s Personalised Credit is a simple way to get credit. You can get an online estimate or use our banking app to apply for a loan of up to R250,000. You’ll get a personalised offer based on your circumstances, and you can choose between the right amount, the lowest monthly instalment or the lowest interest rate, starting at 12.9%.

To help you budget, you can calculate your loan details to determine the payment option that will best suit your financial needs. All you have to do is to input the loan amount, adjust the loan term and then click calculate. It’s easy to use, so go ahead and give it a try.

Calculate repayments

Get up to R250 000 over 1 – 84 months. Choose between the amount you want, the monthly installment that suits your pocket, or the option that gives you the lowest interest rate. Credit is approved in minutes and the money is available immediately. Pay fixed monthly repayments.

Overview

Minimum loan amountR10,000

Maximum loan amountR25,000

Minimum term (months)1 month

Maximum term (months)84 months

Personal loan interest rates (base)12.90%

Personal loan APR12.90%

Monthly repayments (approx)R783

Total repayments (approx)R28,188

Total interest repayments (approx)R8,188

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO Capitec Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 66 77 89

Data accurate as of12.07.2020

GO TO Capitec Bank

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A cash loan from R2 000 up to R250 000. Fast, paperless application process. Decision in seconds. Cash in your account within 24 hours. Flexible repayment options; choose from 12 to 60 months. Free monthly statement via email or SMS. Customer Protection Insurance. Interest from as low as 15%.

Overview

Minimum loan amountR2,000

Maximum loan amountR250,000

Minimum term (months)12 months

Maximum term (months)60 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R796

Total repayments (approx)R28,656

Total interest repayments (approx)R8,656

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR936.50

Minimum monthly incomeR2,000

GO TO RCS

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0861 729 727

Data accurate as of18.01.2020

GO TO RCS

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Get up to R250 000 over 1 – 84 months. Choose between the amount you want, the monthly installment that suits your pocket, or the option that gives you the lowest interest rate. Credit is approved in minutes and the money is available immediately. Pay fixed monthly repayments.

Overview

Minimum loan amountR50,000

Maximum loan amountR100,000

Minimum term (months)1 month

Maximum term (months)84 months

Personal loan interest rates (base)14.20%

Personal loan APR14.20%

Monthly repayments (approx)R797

Total repayments (approx)R28,692

Total interest repayments (approx)R8,692

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR3,000

GO TO Capitec Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityUnknown

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 66 77 89

Data accurate as of12.07.2020

GO TO Capitec Bank

Hide info -

Loans up to R250,000. Terms between 7 months and 72 months.

Overview

Minimum loan amountR10,000

Maximum loan amountR250,000

Minimum term (months)7 months

Maximum term (months)72 months

Personal loan interest rates (base)15.00%

Personal loan APR15.00%

Monthly repayments (approx)R805

Total repayments (approx)R28,980

Total interest repayments (approx)R8,980

Rate typeFixed

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO African Bank

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feeUnknown

Missed payment feeUnknown

For debt consolidation?No

Sponsored No

Telephone0861 111 011

Data accurate as of18.01.2020

GO TO African Bank

Hide info -

Tired of those expensive repayments? Then switch your personal loans to Absa. It’s easy and with our guaranteed lowest interest rate, you will start saving money immediately. We can switch your personal loans of up to R350 000 and pay your creditors directly.

Overview

Minimum loan amountR15,000

Maximum loan amountR350,000

Minimum term (months)12 months

Maximum term (months)84 months

Personal loan interest rates (base)18.82%

Personal loan APR18.82%

Monthly repayments (approx)R845

Total repayments (approx)R30,420

Total interest repayments (approx)R10,420

Rate typeFixed or Variable

Secured or unsecuredUnsecured

Initiation feeR1,207.50

Minimum monthly incomeR2,000

GO TO Absa

Other Fees & Information

Monthly feeR69.00

Quarterly feeR0.00

Annual feeR0.00

Other feesUnknown

Redraw facilityNo

Repayment scheduleMonthly

Early repayments allowedYes

Early repayments feen/a

Missed payment feeUnknown

For debt consolidation?Yes

Sponsored No

Telephone0860 100 372

Data accurate as of12.06.2020

GO TO Absa

Hide info -

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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.

What type of loan are you looking for?

About Capitec personal loans in South Africa

Chances are, you’re already familiar with Capitec. This bank has built a big, trusted brand for itself, and most South Africans feel comfortable and safe when making a Capitec personal loan application. Among other things, the Capitec personal loan interest rate is very competitive, and you can easily access any amount you need via the Capitec online platform. That’s not all. Explore this article to find out more relevant information about getting a flexible personal loan from this lender.

How it works with Capitec Personal loans

  • You get unsecured personal loans that require no security or collateral.
  • Capitec offers personalised interest rates that match your ability to repay and your personal credit risk report. The interest rates for Capitec personal loans start from 12.9%.
  • You get a flexible loan amount that can cover a wide range of financial needs. The loan amount you get approved for depends on your credit risk and what you need to use the money for. When you wish to make a large purchase, you can get a loan of up to R250,000.
  • Capitec’s mobile and internet banking services offer simplicity and convenience. You can bank at any time – on the road or in the comfort of your home.
  • Furthermore, since Capitec loan applications can be made online, you can get approved in a few minutes if you qualify, which makes the process quick and time-saving.

How much do Capitec loans cost?

Some costs associated with Capitec loans include the following:

  • Interests at 12.9 – 24.5%
  • Credit life insurance: You can pay R4.00-R4.50 for every R1000
  • Once off initiation fee: R1207.50 for a R25,000 loan
  • Monthly service fee: R69.00 for a R25,000 loan
  • Monthly repayments are fixed and depend on the loan amount and term

What type of Capitec personal loans are available?

Capitec personal loans are designed to suit a range of different purposes. There are two main types of personal loans you can get from Capitec:

  • Personal loan. You can borrow a maximum of R250,000 that gets repaid over a period of up to 84 months. You can also choose to make repayments for the loan at an earlier date if you can afford it. To protect yourself, you can also add insurance to the loan so that you are covered in the event of retrenchment or death.
  • Car loans. You can also get unsecured loans to finance your car purchase.

Both these loans come with their own fees and charges. Usually, a monthly service fee and an initiation fee are included when your loan is approved. Also, reading the terms and conditions for Capitec personal loans can help you fully understand your debt’s total cost.

What are Capitec personal loan requirements?

  • You must have reached the legal age of 18.
  • You must be a South African resident with a valid, government-issued ID.
  • Your income should be regular and above a certain amount to ensure you can afford to repay the loan.
  • You should have a good credit rating. Capitec performs a credit check to see if you have a good credit score before they approve your application. If you find yourself blacklisted or having a bad credit score, your application may not be successful.

What documents are required for a Capitec loan application?

  • Your government-issued South African ID document or card
  • Proof of income and your latest three months’ bank statements. You can also provide your payslips.
  • Proof of residence; evidence of where you stay in the form of the latest utility bills or lease agreement.
  • Depending on the loan amount, Capitec might also require you to declare your regular expenses, assets, and liabilities as proof that you’re able to pay back the loan.

Capitec personal loan online application

There are several ways to make a Capitec personal loan application. For example, you can visit the nearest Capitec branch or make a phone call. However, the most convenient way is to apply online. Capitec offers an easy to use online application platform on their website. Once you confirm the qualification requirements, you can select Capitec from the list of loan providers featured on the comparison tables above.

Use the calculator on this page to calculate the monthly repayments on your loan and then click the “Go to Site” button to switch to the lender’s website and proceed with the application. Next, you will have to upload the required documents from your device. You also have to select your preferred loan amount and term, and then click submit.

Important tip

Compareloans.co.za has created a useful Capitec loan calculator that helps you with your monthly repayments. We recommend that you try it before proceeding with the application.

How does Capitec evaluate your loan offer?

When you submit a Capitec personal loan application, the bank considers several factors when evaluating whether to approve you or not. These factors include:

  • Your credit score and banking history;
  • Your income and expenses; and
  • The stability of your income.

Advantages of Capitec personal loans

  • You can get access to R250 000 when you need it. Capitec offers flexible loan amounts that suit your needs. However, the amount depends on your credit profile and whether you have provided enough evidence of your ability to repay the loan.
  • Capitec personal loans come with credit insurance to cover you in the case of retrenchment, sickness, disability, or death.
  • The fixed monthly repayment amounts help you budget ahead of time.
  • They have flexible payment terms that make paying for the loan affordable.
  • You get the best offer depending on your credit score. This means that you will not get a loan that will be difficult for you to pay back.

Disadvantages of Capitec personal loans

  • You might not be approved for a Capitec personal loan if you have bad credit or are blacklisted.

Capitec Access Facility – Revolving Credit

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