Capitec offers a personal loan designed for South Africans needing quick access to funds. Applicants can borrow up to R500 000 with repayment terms ranging from 12 to 84 months. Interest rates start at a competitive 12.75% per annum but are personalised based on your credit profile and affordability evaluation. Loans are often approved in minutes and include fixed monthly repayments, giving you stability in budgeting.

How to Apply: Step by Step

• Use Capitec’s website or the banking app to estimate your loan and submit your application.
• Alternatively, call Capitec or visit your nearest branch.
• Prepare essential documents: original ID, pay slip, and a bank statement (if your salary goes to another bank).
• Capitec will assess your income, expenses, and credit profile.
• Choose your preferred loan amount, term, and instalment option.

Pros of Capitec Personal Loan

Capitec’s loan process is efficient and convenient. Approval is often within minutes, and funds are accessible right away after successful application.

Flexible repayment periods up to 84 months help you choose an instalment plan that fits your needs. The offering of up to R500 000 is very competitive for South Africa.

Cons of Capitec Personal Loan

Personalised interest rates, while potentially low, may be much higher depending on your credit profile, sometimes reaching over 20% per annum.

Salary earners who are not Capitec account holders need to provide additional documentation, which may slow down the application process.

Our Verdict

Capitec’s personal loan is ideal for those who value fast processing, flexibility, and personalised rates. With both online and face-to-face options, plus competitive amounts, it stands out as a reliable choice. Despite higher rates for some, the overall package delivers on speed and user-friendly application, especially for those earning at least R3 000 monthly.