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Capfin Loan and how to Apply for it

By Oluchukwu Ikemefuna

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Capfin loans offer a competitive deal that few financial institutions in South Africa can match. Before delving into the details of these enticing loan offers, let’s first understand what Capfin is and who they are.

Capfin loan

Capfin stands out as one of South Africa’s most popular loan providers. Therefore, before you proceed with a Capfin loan application, it’s crucial to grasp the product they offer.

To assist you in this process, we’ve crafted this comprehensive Capfin loan guide. It encompasses all the vital information, including eligibility requirements and the application procedure.

Also read: Full List of Genuine Loan Apps in Kenya

Introduction to Capfin Loan

Capfin is a division of Century Capital (Pty) Ltd, registered with the National Credit Regulator (NCR) as a credit provider in South Africa. Additionally, Capfin SA (Pty) Ltd is a wholly owned subsidiary of Pepkor, an international group with offices in Australia, the United Kingdom, and Mauritius, listed on the Johannesburg Stock Exchange. Capfin’s operational headquarters are located in Kuils River, Cape Town, with Registration Number 2011/126985/07 – NCRCP11812.

Capfin Loan: Offers and Application

The primary product offered by Capfin is the Capfin personal loan, which ranges from R1000 to R50,000. Upon availing yourself of a loan from this provider, you are granted a repayment period of either six months or twelve months (one year).

Capfon loan

Capfin imposes an interest rate of up to 5% per month for the six-month loan option and a maximum of 28% for the twelve-month loan. However, it’s important to note that this interest rate is typically personalized based on your credit score, with higher credit scores resulting in lower Capfin interest rates.

What about the PEP Capfin Loan?

You have the option to apply for a Capfin loan at PEP stores. Additionally, Capfin has established a partnership with Ackermans, providing a more accessible and convenient avenue for obtaining a loan when necessary.

Given that PEP and Ackermans are reputable retail brands, you can confidently approach them for a Capfin loan. Here are the steps to apply at PEP:

  1. Visit any PEP store and bring along your South African ID as well as your three most recent payslips or bank statements.
  2. PEP will scan and forward your documents to Capfin.
  3. Await Capfin’s communication regarding your application status.

Does Capfin Offer Blacklisted Loans?

Yes, Capfin may offer blacklisted loans depending on your specific circumstances. It’s important to understand that Capfin operates as a responsible lender, ensuring that credit is extended only to individuals who can afford it. This responsible lending approach is evident through their affordability assessment process.

While Capfin does not explicitly advertise blacklisted loans, there are situations where individuals with less favorable credit histories may still receive loan offers. However, these offers typically involve smaller loan amounts to mitigate the lender’s risk.

There are two primary reasons why your loan application with Capfin could be approved, even if you have a less-than-ideal credit history:

  1. Capfin assesses your financial capacity based on your bank statements or payslips. This indicates that your income level plays a significant role in their evaluation. As long as you can demonstrate affordability, you may be eligible for Capfin loans despite being blacklisted.
  2. Capfin requires applicants to accept the Debicheck mandate from their banks. By verifying your regular income through payslips and bank statements and securing your approval for the DebiCheck mandate, Capfin gains assurance that they can deduct monthly payments from your account. This increased confidence in repayment may make them more inclined to offer loans to individuals with a blacklisted status who meet these criteria.

Capfin Loan Application, Eligibility and Requirements

Wondering if you qualify for a Capfin loan? Before applying, ensure you meet the following Capfin loan requirements:

  1. Be at least 18 years old.
  2. Possess a functioning cell phone number.
  3. Maintain permanent employment with a monthly salary.
  4. Hold an active South African bank account, accepted by Capfin from banks such as Standard Bank, Absa, FNB, Nedbank, Capitec, and African Bank.

Prepare the following documents for your application:

  • A valid South African ID
  • Three payslips or bank statements from the past three months

Utilize the Capfin Calculator Before Applying
Calculating your comfortable borrowing limit before applying for a Capfin loan is crucial. Here are two examples illustrating the potential costs associated with loans from this provider:

Representative Example 1:

  • Borrowing R4000 over six months results in a monthly installment of R932.
  • Fees for this loan include an initiation fee of R535 and a maximum monthly service fee of R69, bringing the total cost of the loan to R5594.

Representative Example 2:

  • Borrowing R4000 over 12 months leads to a monthly installment of R499.
  • Fees for this loan include an initiation fee of R535 and a maximum monthly service fee of R69, resulting in a total cost of R5994 for the loan.

What Happens when I don’t Pay my Loan?

When you accept a loan offer from Capfin, you are bound by their terms and conditions.

Failure to repay your loan prompts Capfin to pursue the entire outstanding amount, along with accrued interest and fees.

The process typically begins with an SMS notification informing you of your default status. If there’s no response within at least 10 business days and you remain in default for at least 20 days, Capfin may escalate the matter by obtaining a court order against you.

It’s advisable to avoid this scenario, as it can lead to significant expenses and adversely impact your credit rating. Therefore, borrowing responsibly within your means is always prudent.

Using the Capfin Loan Calculator:

Note that the Capfin loan calculator provides an estimate only. The actual cost of your loan will depend on the interest rate you are offered and will be detailed in your loan agreement.

  1. Start by selecting an amount between R1000 and R50,000, which represents Capfin’s maximum loan offering.
  2. Choose your preferred repayment term of either 6 months or 12 months. You can adjust the amount using the sliders or + and – symbols.
  3. Review the comparison table to see the estimated repayment amounts. Make adjustments as needed and take time to compare offers from other lenders.
  4. If satisfied, proceed to click on “Apply.”

What is the Loan Repayment Period for Loans?

Capfin offers short-term loans with two primary options for repayment: 6 months or 12 months. Keep in mind that higher loan amounts result in higher monthly repayments.

Fortunately, Capfin prioritizes responsible lending and conducts affordability assessments to ensure borrowers can manage their loan repayments.

How to Apply for a Capfin Loan

There are various methods to apply for a loan, including online applications.

Online Application for a Capfin Loan:

  1. Open an account on Capfin’s website by filling out a form with essential details such as your full name, South African ID number, cell phone number, and email address.
  2. Verify your account using the One-Time-Pin (OTP) sent to your phone.
  3. Complete the online loan application form and submit it. Expect a call from a consultant who will guide you through the next steps, which include sending your payslips or bank statements online.
  4. You can also apply for a PEP Capfin loan using the same online application process.

Sending Documents Online:

  • Upload your documents to Capfin’s website.
  • Visit PEP or Ackermans to have your documents scanned.
  • Email your documents to docs@capfinmail.co.za with your South African ID as the subject line or FAX them to 0866880000 with your SA ID number.
  • If you bank with ABSA, Standard Bank, or Nedbank, Capfin can retrieve your documents for you.

Application Via Cell Phone Number:

You can also apply for a Capfin loan via SMS by texting 33005 from your cell phone.

Advantages of a Capfin Loan:

Free Death Benefit: Capfin provides a free death benefit, ensuring that in the unfortunate event of your passing, your loved ones are not burdened with the outstanding loan balance as Capfin will write it off.
Responsible Borrowing: Capfin adheres to responsible lending practices, offering loans only to individuals who can afford them. Start by applying to determine your eligibility and borrowing capacity.

Disadvantages of a Capfin Loan:

Processing Time: Capfin’s loan application process may take some time as you need to wait for a consultant to contact you. This option may not be suitable if you require quick access to funds.
Loan Limits: Capfin imposes relatively low limits, with a maximum loan amount of R50,000 and restricted options for credit terms, limited to six or 12 months.

Frequently Asked Questions (FAQ) about Capfin Short-Term Loans

  1. What types of short-term loans are available in South Africa?
    Short-term loans in South Africa typically come in two main options: those with a six-month repayment period and those with a 12-month repayment period.
  2. How can I qualify for a short-term loan in South Africa?
    To qualify for a short-term loan in South Africa, you generally need to be at least 18 years old, have a steady income, possess a South African ID, and hold an active bank account with one of the recognized banks.
  3. What are the advantages of short-term loans?
    Short-term loans often come with benefits such as a free death benefit, responsible borrowing practices, and a relatively straightforward application process.
  4. Are there any disadvantages to short-term loans?
    Some disadvantages of short-term loans may include longer processing times, limited borrowing options in terms of loan amounts and repayment periods, and potential challenges for those seeking quick access to funds.
  5. How do I apply for a short-term loan online?
    To apply for a short-term loan online, visit the lender’s website, fill out the required forms with personal and financial information, submit necessary documents such as payslips or bank statements, and await approval.
  6. Can I apply for a short-term loan via SMS or cell phone?
    Yes, some lenders allow applicants to apply for short-term loans via SMS or cell phone by sending a text message to a designated number and following the instructions provided.
  7. What should I consider before applying for a short-term loan?
    Before applying for a short-term loan, consider factors such as your financial needs, repayment capability, interest rates, fees, and terms and conditions of the loan agreement. It’s crucial to borrow responsibly and within your means.


In conclusion, short-term loans offer a convenient financial solution for individuals in need of quick funds. With options ranging from six to twelve months, these loans cater to various financial needs. While they come with advantages such as a free death benefit and responsible borrowing practices, it’s essential to consider potential disadvantages like longer processing times and limited borrowing options.

Before applying for a Capfin short-term loan, ensure you meet the eligibility criteria and carefully assess your financial situation. Responsible borrowing and a thorough understanding of loan terms are key to making informed financial decisions. Whether you apply online, via SMS, or through other channels, prioritize borrowing within your means and strive for financial stability. Short-term loans can be a valuable resource when used wisely, helping you navigate unexpected expenses or bridge financial gaps effectively.

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Christian Maximilian
Christian Maximilian

I am a Software Engineer, technical writer, and overall tech enthusiast. For me, utilizing my skills as a Software Engineer to perform Technical Search Engine Optimization is not just a job, but something I gladly incorporate into my pastimes as well, and I have been doing this for over 3 years.

When I'm not coding or writing technical documentation, I enjoy listening to music and exploring new genres.

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