Capfin offers personal loans for individuals in South Africa who need funds for education, home improvement, or starting a side hustle. You can borrow from R1,000 up to R50,000, with repayment periods of 6, 12, or 24 months. Interest rates are fixed, ranging from 5% (short-term loans) to 27.75% per annum (for terms over 6 months). Transparency is key, and all fees, including initiation, service, and compulsory Credit Life insurance, are outlined upfront.

How to Apply for Capfin Loans

• Use the Capfin Loan Calculator to pick your loan amount and see estimated repayments.
• Complete the simple online application form for a quick pre-approval offer.
• Submit your income and expense details for affordability assessment.
• Once approved, upload supporting documents and provide your banking details.
• Funds are typically paid out within 48 hours after final approval.

Pros of Capfin Personal Loan

A major benefit of Capfin loans is the transparent fixed rate: you always know how much you repay each month. The fast, paperless application means less hassle and fewer delays. Customer service is consistently rated highly, with many clients appreciating the straightforward process and quick payouts.

Cons of Capfin Personal Loan

The highest interest rate of 27.75% per annum might be steep for some. Additionally, only South African residents who meet certain affordability checks can apply. There is also a compulsory credit insurance fee added.

Verdict

Capfin Personal Loans are a competitive option for anyone seeking reliable access to cash with set terms and clear costs. While the maximum rates could be high, many South Africans have found the process fair, fast, and manageable. The inclusion of Credit Life insurance provides added peace of mind for borrowers.