Capitec’s Personal Loan offering stands out in South Africa for its accessibility and speed. You can access up to R500,000 with fixed monthly repayments and repayment terms ranging from 12 to 84 months. Interest rates start from a competitive 12.75% per year, though these are tailored to your credit profile and repayment period. Approval can happen in minutes, and the funds are quickly made available, making Capitec an attractive choice for many.

How to apply: Step by Step

• Apply online, via the Capitec app, by phone, or at any branch.
• You’ll need your ID, latest salary slip, and proof of last three salary deposits if your salary isn’t paid to a Capitec account.
• Complete the affordability checks and choose your preferred loan amount and repayment option.
• Settle on your interest rate and repayment term based on your affordability and risk profile.
• Once approved, the money is disbursed directly to your account.

Key advantages

Capitec’s loan process is both fast and straightforward, with a digital application option that saves time. Approval times are notably quick, often within minutes once all documents are submitted.

Another benefit is the flexible terms on offer. You can personalise your loan based on how much you need, what you can afford, or the lowest available interest rate—empowering you to manage your monthly cash flow effectively.

Points to consider

While there is much to like, approval rates and loan amounts are directly linked to your credit and affordability profile. Some applicants may not qualify for the upper loan limits or the best interest rates available.

Additionally, a minimum monthly income of R3,000 is required, so this isn’t an option for everyone. There is also mandatory credit insurance, which, while beneficial, is still an added cost.

Final verdict

Capitec Personal Loans are a strong choice for South Africans who need access to fast, flexible credit with transparent rates and terms. The application process is clear and user-friendly, and funds are quickly accessible once approved. If you meet the eligibility criteria and need a reliable credit option, Capitec deserves your consideration.