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Capitec Personal Loan
Apply for up to R500,000 at rates from 12.75% p.a. Flexible repayment terms up to 84 months. Fast approval and funds paid out immediately.
Capitec offers a personal loan that stands out for its high maximum loan amount and fast approval process. With approval times in minutes, this loan is designed for those needing up to R500,000 for life’s big or urgent expenses. Interest rates are personalised and start from 12.75% per annum, with a maximum repayment term of 84 months. Repayments are fixed, so you always know what to expect.
Loan conditions include meeting a minimum monthly income of R3,000 and providing supporting documents. Your credit profile and affordability will determine the rate and amount offered.
How to Apply: Step by Step
1. Check your eligibility and gather the required documents, including your ID, salary slip, and bank statements if your salary is not paid into a Capitec account.
2. Apply online, through the Capitec banking app, in-branch, or by calling their helpline.
3. Receive a personalised quote based on your credit profile and affordability.
4. Once approved, receive your loan offer and, if accepted, get the funds paid immediately into your account.
Pros of the Capitec Personal Loan
Capitec’s fast approval process is truly impressive. Most applicants receive a decision within minutes, and funds are paid out instantly if approved. Another major advantage is flexible repayment options. Borrowers can structure the loan over periods from 12 up to 84 months, based on their preferences and budget.
Cons of the Capitec Personal Loan
The interest rate is risk-based and not guaranteed to be the advertised minimum, so some applicants with weaker credit profiles may receive higher rates. Furthermore, to qualify, all applicants must provide recent proof of income and may need to submit additional bank statements, which could be a hurdle for some.
Our Verdict
Capitec’s personal loan is a strong choice for South Africans who value high loan amounts, clear fixed repayments, and speedy application. While the best rates are reserved for the most creditworthy customers, the overall flexibility and reputability make it one of the leading loan products available.