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How to Qualify for Capfin Loan

By Oluchukwu Ikemefuna

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Capfin, a prominent fintech company in South Africa, serves as a lifeline for individuals facing unexpected financial needs such as medical emergencies, home repairs, or unforeseen expenses. They provide personal loans through a user-friendly Capfin loan application process, available online, via SMS, or in person.

Capfin loan application

For existing Capfin customers, managing their loan accounts is a breeze through the secure Capfin login portal. By entering their registered email address or cellphone number along with their password, users can easily access features like checking their loan balance, tracking repayments, updating personal information, and staying updated on their loan status.

Also read: Capfin Loan and how to Apply for it

Finding out if you Qualify for a Capfin Loan

To apply for a Capfin loan, you don’t need to provide collateral. As long as you meet these requirements, you qualify:

  • A valid South African ID
  • 3 latest payslips or bank statements
  • Permanent employment with a monthly salary
  • A valid cellphone number
  • A South African bank account with one of the supported banks (Standard Bank, ABSA, FNB, Nedbank, Capitec, African Bank)
  • Age of 18 years or older.

For documentation, you’ll need a valid SA ID and either 3 latest payslips or bank statements.

Also read: Capfin Loan Application: how to Access Capfin Loan

How to Apply for a Capfin Loan

Capfin has made it easy to apply for a loan using your phone number. Just go to their website, enter your phone number, and follow the steps on the screen.

If you need help while applying, Capfin offers different ways to contact their helpful customer support team. You can email, call, or message them on WhatsApp for quick and personalized assistance.

Capfin makes it easy for customers to get in touch by integrating WhatsApp into their support system. You can reach Capfin’s customer support team directly through WhatsApp for quick help with your loan applications or any questions you have.

Plus, Capfin keeps you updated with SMS notifications. You’ll get timely updates on your loan status, repayment reminders, and important news sent straight to your phone.

More on Loan Application and Repayment

In addition, and in regards to the loan application, you’ll need a valid South African ID and either three recent payslips or three recent bank statements. You can apply online at www.capfin.co.za, through SMS at 33005, or by visiting a PEP or Ackermans store nationwide.

For the online application, use this link. The process is secure; create an account with your ID, then access it using your SA ID and a one-time PIN (OTP) sent to your cellphone. If your application is declined, you’ll need to wait for 30 days.

Furthermore, Capfin offers loans up to R50,000, based on an affordability assessment considering your income, expenses, credit profile, and payment behavior. Once approved, your loan will be paid out within 48 business hours to your nominated bank account. Delay in DebiCheck mandate approval from your bank will delay the transfer.

You can upload documents online here or scan them at PEP or Ackermans stores. Alternatively, email docs@capfinmail.co.za with your SA ID in the subject line or fax to 0866880000 with your SA ID as reference. Capfin can retrieve your documents at no cost if you bank with ABSA, African Bank, Standard Bank, or Nedbank.

If you have trouble with OTPs or need assistance, contact Capfin at 087 354 0000. Repayments are made through debit orders, bank deposits, in-store payments, or Capfin Pay@ Payment Portal. Failure to pay may impact your credit record; contact Capfin’s Collections Department or use USSD *134*6454# for payment arrangements.

Capfin also offers a Free Death Benefit, a write-off of outstanding balance in case of the customer’s death, but it’s non-transferable.

Also read: SASSA Loan: how to Apply and Access it

FAQ about Capfin Loans

1. How can I apply for a Capfin loan?


You can apply for a Capfin loan online at www.capfin.co.za, through SMS at 33005, or by visiting any PEP or Ackermans store nationwide.

2. What documents do I need to apply for a Capfin loan?


You’ll need a valid South African ID and either three recent payslips or three latest bank statements.

3. Is the Capfin online application secure?


Yes, the Capfin online application is secure. You’ll create an account using your ID and receive a one-time PIN (OTP) on your cellphone for access.

4. How long does it take for a Capfin loan to be approved?


Once approved, your loan will be paid out within 48 business hours to your nominated bank account.

5. What happens if my application is declined?


If your application is declined, you’ll need to wait for 30 days before reapplying.

6. How much can I borrow with Capfin?


Capfin offers loans of up to R50,000 based on an affordability assessment considering your income, expenses, credit profile, and payment behavior.

7. What payment options are available for Capfin loans?


You can make payments through debit orders, bank deposits, in-store payments, or the Capfin Pay@ Payment Portal.

8. What is the Free Death Benefit offered by Capfin?


The Free Death Benefit is an outstanding balance write-off in case of the customer’s death, but it’s non-transferable.

9. How can I contact Capfin for assistance?


You can contact Capfin at 087 354 0000 for any assistance regarding your loan application, payments, or other inquiries.

Conclusion

In conclusion, Capfin stands out as a reliable and accessible solution for individuals in need of financial assistance in South Africa. With a straightforward application process, flexible loan options, and attentive customer support, Capfin strives to meet the diverse needs of its customers.

Whether it’s unexpected expenses, urgent repairs, or planned investments, Capfin’s commitment to transparency, security, and customer satisfaction makes it a trusted partner in financial support. Explore the possibilities with Capfin today and take control of your financial journey with confidence.

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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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