Capitec’s Personal Loan offers South Africans flexible access to as much as R500,000 with repayment terms between 12 and 84 months. Interest rates are personalised, starting from 12.75% per annum and based on your credit profile and affordability. Fixed monthly repayments mean you always know exactly what to expect, and you can even consolidate other loans for simple budgeting. Notably, credit insurance is included and decreases as your loan balance reduces.

How to Apply

Applying for a Capitec Personal Loan is streamlined for convenience. Start online or via the Capitec app. Complete the application, providing your ID, most recent payslip, and three months’ bank statements if your salary isn’t paid into Capitec. Alternatively, visit any Capitec branch or call their support line for assistance. A quick credit check and affordability assessment follow—if approved, money is available immediately.

Pros

One major advantage is the fast approval and disbursement—often within minutes. Flexible loan terms let you choose your ideal repayment period, be it lowest monthly cost or fastest repayment. Consolidating other debts under one easy repayment is another significant benefit, plus the credit insurance offers added peace of mind.

Cons

A main drawback is the minimum monthly income requirement of R3,000, which could limit access for lower-income earners. Also, interest rates are personalised and can be significantly higher than the lowest advertised, depending on your credit profile. Loan approval is subject to stringent credit and affordability checks, which means not everyone will qualify for the best offers.

Verdict

Capitec Personal Loans stand out with their flexibility, clear costs, and fast turnaround. This makes them a strong choice for borrowers in South Africa who meet the qualification criteria. With competitive features and robust customer support, it’s an offer worth considering for those in need of a personal loan.