Comprehensive Guide to Capfin Personal Loans in South Africa in 2025

What is a Capfin Personal Loan?

A Capfin Personal Loan is an unsecured personal loan provided by Capfin SA (Pty) Ltd, a registered credit provider (NCRCP11812) and a subsidiary of Pepkor, a Johannesburg Stock Exchange-listed company.

Key Features

Feature	Details
Loan Amount	R1,000 to R50,000
Repayment Terms	6, 12, or 24 months
Interest Rates	Personalized, up to 29.25% per annum or 5% per month (VAT inclusive)
Insurance	Mandatory Capfin Credit Life insurance included
Application Channels	Online, SMS (33005), or in-store at PEP/Ackermans
Processing Time	Pre-approval often within minutes, funds within 48 hours

Eligibility Requirements

Capfin’s eligibility criteria are straightforward, designed to be inclusive while ensuring responsible lending per NCA guidelines:

• Nationality/Residency: Must be a South African citizen or permanent resident with valid SA ID
• Age: 18 years or older
• Income: Stable income with three latest payslips or bank statements
• Bank Account: Valid account with supported bank (ABSA, Nedbank, Standard Bank, FNB, Capitec)
• Mobile Number: SA-registered mobile for OTP verification
• Creditworthiness: Subject to credit check but focuses on affordability

Special Cases

• Self-Employed/Freelancers: Bank statements showing consistent income
• Unemployed Applicants: Generally ineligible unless supported by beneficiary’s income
• Bad Credit: Considered case-by-case with focus on affordability

Application Process

Capfin’s application process is designed for speed and convenience with multiple channels:

Option 1: Online Application

1. Visit www.capfin.co.za and click “Apply Now”
2. Register profile using SA ID, name, email, and mobile (OTP verification)
3. Use Loan Calculator to estimate repayments
4. Complete application with personal and financial details
5. Submit documents (ID, payslips/bank statements, consent form)
6. Receive pre-approval offer via SMS/email
7. Review and sign final loan agreement
8. Receive funds within 48 hours

Option 2: SMS Application

• Text your 13-digit SA ID to 33005
• Receive response with instructions to continue online or visit store

Option 3: In-Store Application (PEP or Ackermans)

• Visit any of 2,700+ PEP or Ackermans stores
• Bring valid SA ID and three payslips/bank statements
• Complete application with consultant’s help

Interest Rates and Fees

Capfin’s costs are transparent with all charges included in monthly instalments:

Cost Item	Details
Interest Rate	Prime (11.75%) to 29.25% per annum based on credit profile
Initiation Fee	~R1,207.50 for loans above R8,000 (once-off)
Monthly Service Fee	R69 per month
Credit Life Insurance	R50-R150/month depending on loan amount

Example Calculation

For a R20,000 loan over 12 months at 25% p.a.:

• Monthly instalment: ~R2,350
• Includes principal, interest, fees, and insurance
• Total cost: ~R28,200

Repayment Terms

Capfin’s repayment terms are structured for simplicity and affordability:

• Terms Available: 6, 12, or 24 months
• Payment Method: Debit order aligned with salary date
• Early Repayment: Allowed without penalties
• Missed Payments: Late fees and interest on arrears apply

Example Repayment Schedule

R10,000 Loan, 12 Months, 25% p.a.:

• Monthly instalment: ~R1,250
• Includes principal (~R833), interest (~R208), service fee (R69), insurance (~R100)
• Total repaid: ~R15,000

Capfin Credit Life Insurance

Mandatory for all Capfin loans, included in monthly instalments:

Coverage	Details
Death	Full settlement of loan balance
Permanent Disability	Full settlement if unable to work
Retrenchment/Temporary Disability	Instalments paid for limited period (6-12 months)
Funeral Cover (2017-2018 loans)	R5,000 natural death, R10,000 accidental death

Claims Process

• Beneficiaries must claim within 6 months of qualifying event
• Required documents: Deceased’s ID, death certificate, loan details
• Contact Capfin at 087 354 0000 for claim forms

Document Requirements

Prepare these documents to streamline your application:

• Valid South African ID: Smart card or green book
• Proof of Income:
  • Three latest payslips (employed)
  • Three latest bank statements (self-employed)
• Consent Form: For credit checks

Benefits of Capfin Personal Loans

• Fast Processing: Pre-approval in minutes, funds in 48 hours
• Multiple Application Channels: Online, SMS, or in-store
• Accessible for Bad Credit: Focus on affordability over credit score
• Transparent Costs: No hidden fees with Loan Calculator tool
• Insurance Protection: Credit Life coverage included

Comparison with Absa Personal Loan (2025)

Practical Tips for 2025

1. Use the Loan Calculator to test different amounts/terms
2. Check your credit score via TransUnion before applying
3. Prepare digital copies of documents for quick submission
4. Apply early in the day/week for faster processing
5. Read the agreement carefully before signing
6. Budget for all costs (initiation fee, service fee, insurance)
7. Monitor payments via Capfin portal or USSD (*134*6454#)
8. Compare with other lenders for best rates
9. Borrow only what you need and can repay
10. Contact support (087 354 0000) for any queries

Frequently Asked Questions (FAQs)

How much can I borrow?

R1,000 to R50,000, based on affordability and credit profile.

What’s the repayment term?

6, 12, or 24 months, depending on loan size and risk assessment.

Is Credit Life insurance mandatory?

Yes, included in instalments (R50–R150/month), covering death, disability, or retrenchment.

Can I apply with bad credit?

Yes, Capfin focuses on affordability, though poor credit may mean higher rates.

How long does approval take?

Pre-approval in minutes; final approval and funding within 48 hours.

Final Thoughts

A Capfin Personal Loan in 2025 is a fast, flexible solution for South Africans needing up to R50,000 for personal expenses. With multiple application channels, transparent costs, and Credit Life insurance, it offers convenience and security. While ideal for those with bad credit, high interest rates and short terms require careful budgeting.