Introducing Capitec Personal Loans

Capitec offers personal loans ranging from R5,000 up to an impressive R500,000. Repayment terms span from 12 up to 84 months, giving borrowers excellent flexibility.

Interest rates are personalised and start as low as 12.75% per annum, rising up to around 22% depending on your credit profile and loan amount.

All rates, fees, and credit offers depend on strict credit and affordability checks. Typical monthly repayments for R50,000 over 48 months at 22% are roughly R1,741 all fees included.

You must earn a minimum of R3,000 per month to apply. Capitec makes funds available quickly after approval with fixed monthly instalments throughout your term.

Applying is hassle-free and can be done online, via the Capitec app, by phone, or in any branch nationwide.

How to Apply: Step by Step

First, check your estimated offer online or on the Capitec mobile app. Next, gather your identity document, latest payslip, and relevant bank statements.

If your salary goes into a Capitec account, you only need the ID and payslip. Otherwise, provide bank statements showing three consecutive salary deposits.

Apply via the app, web, phone or a branch. Your loan amount and repayment plan will be tailored based on your affordability and credit profile.

Once approved, funds are usually transferred immediately to your Capitec account, and you’ll get confirmation of your new fixed monthly payment.

Credit insurance is compulsory and covers retrenchment, disability, and more, providing peace of mind for borrowers and their families.

Top Pros of Capitec Personal Loans

Capitec provides some of the most flexible loan options, with high loan limits and relatively long repayment terms of up to seven years.

Fast application and approval processes stand out, with funds accessible often on the same day if approved.

Cons to Consider Before Borrowing

Interest rates depend on your individual profile, so not everyone will qualify for the lowest rates advertised.

To apply, you’ll need specific documentation and a minimum income of R3,000 per month, possibly excluding certain applicants.

Final Verdict

Capitec’s personal loans offer a practical, reliable financing option for South Africans seeking high loan amounts, flexible terms, and quick access to cash.

The straightforward process, personalised rates, and insurance features make Capitec a solid choice for responsible borrowers.