How to apply for a Capitec loan in South Africa


Emergency situations could mean the need for a loan to meet your financial needs. At this point, efficiency and promptness are very important. With some credit providers, approval of a loan application might take days sometimes. Owing to this, finding a top-notch credit provided with efficient service is imminent. Through the course of this article, we will discuss all there is to know about how to apply for a capitec loan in South Africa.

From a customer’s point of view, Capitec loans has been successful in setting up the loaning and banking platform in order to meet the specific financial requirements of every prospective client. So, what are Capitec loans? How do they operate?

About Capitec Loans

Since 2001, Capitec has been a leading South African retailer bank, providing retail and business services. Capitec personal loans are likely to be familiar to you. 

This bank has established a big, trusted brand name for itself, and most South Africans feel comfortable and safe when applying for a Capitec personal loan. 

Furthermore, Capitec personal loans have very competitive interest rates, and you can easily access any amount via the Capitec online platform.

How does Capitec Loans work

Capitec as a financial institution provides personal loans and other forms of financial services. A prospective applicant, it is important to understand the manner in which they operate. Typically, as an applicant you stand to enjoy;

  1. Unsecured personal loans that require no security or collateral.
  2. Capitec offers tailored interest rates based on your credit report and ability to repay. The rate for personal loans starts at 12.9%.
  3. You receive a flexible amount of money that can cover a wide range of financial needs. This amount varies depending on your credit history and what you need the money for. You can receive up to R250,000 when you need to make a large purchase.
  4. Using Capitec’s mobile or Internet banking services offers convenience and simplicity. You can conduct your banking anywhere in the world, on the go, or at home.
  5. Also, since Capitec loan applications are online, you can receive approval in a matter of minutes if you qualify, which makes the process quick and convenient.

Capitec Interest rates and other fees

Clearly, any investment platform comes with a cost. It is important that you understand that cost as a prospective client. Here are some quick details about Capitec credit services costs. 

  1. Interests at 12.9–24.5%.
  2. Credit life insurance: You can pay R4.00-R4.50 for every R1000.
  3. Once-off initiation fee: R1207.50 for an R25,000 amount.
  4. Monthly service fee: R69.00 for an R25,000 amount.
  5. Monthly repayments are fixed and depend on the amount and term.

Types of loan services Capitec offers

There are two major types of finance you can get from Capitec:

  1. Personal loan.

Applicants can borrow a maximum of R250,000 which is repaid over an 84 month period. You can also pay the debt off earlier if you can afford it. The best way to protect yourself is by obtaining insurance coverage for lost wages or in case of death.

  1. Car loan.

You can also get an unsecured loan to finance your car purchase.

In most cases, a monthly service fee and an initiation fee are included with your credit approval. It is also important for you to read the terms and conditions for Capitec loans to fully understand the total cost of your debt.

What do you need to apply for a Capitec loan

The following requirements must be met to apply for a Capitec loan:

  1. You must have reached the legal age of 18.
  2. Prospective applicants must be South African residents with a valid, government-issued ID.
  3. It is essential that you have a regular income and that it is above a certain amount in order to pay off your debt.
  4. Before approving your application, Capitec performs a credit check in order to see how good your credit rating is. If your credit rating is poor or you are blacklisted, your application may not be approved.

You will also need the following documents to complete the Capitec loan application:

  1. Your government-issued South African ID document or card
  2. Proof of income and your latest three months’ bank statements. You can also provide your payslips.
  3. Proof of residence; evidence of where you stay as the latest utility bills or lease agreement.
  4. The amount of your credit might also require you to declare your regular expenses, assets, and liabilities in order to prove that you can repay it.

If you have all the aforementioned documents and met the above requirements, then you will be one step closer to getting your loan application approved.

Does Capitec give instant loans

Lenders that offer Capitec Instant Loans make them instantly available to their customers as a payday loan or emergency cash loan. Applicants will only have to provide contact information before they are approved.

How to apply for a Capitec loan

When you have the above requirements in place, then you can proceed to the next step, which is the application. Capitec loan group has optimized different application systems to meet the preferences of every customer.

You can choose whichever one of these application methods suits you the most since they’re all super efficient and swift. These applications include;

  1. Applying online on their official website at Here.
  2. Downloading Capitec’s app is available on all app stores.
  3. Visiting the closest Capitec branch. You can easily find your closest by simply clicking Here.
  4. Finally, you can inquire and fulfill your application process by putting a call through to Capitec loan operatives. The number to dial is  0860 66 77 89.

Can I get a loan at Capitec without a payslip

Unless you own a business, Capitec will not approve you for a loan if you do not provide payslips. As a result, that business must be registered as Incorporated or Closed Corporation, for example.

How long does capitec take to approve a loan

It is important to keep accurate information during the application process, so you can speed up the assessment process. Capitec Loans operate with credible and efficient staff on hand 24/7. A standby team is always ready to perform credit checks, calculate potential repayment amounts, and send feedback within a short period of time.

It usually takes between 24 and 48 hours to assess, credit check, and process the loan payment, depending on the quality of the details provided.

How do I settle my capitec loan

If you need assistance, email Centralised with your loan account number in the subject line. Call them on 0860 66 77 18 for one of our agents to assist you. Visit your nearest branch.

Advantages of Capitec personal loans

  1. With Capitec, you can borrow as much as R250 000 depending on your needs and financial profile. However, the amount is based on whether you have shown enough proof that you can repay your debt.
  2. Credit insurance is included with Capitec loans to cover you in the event of retrenchment, sickness, disability, or death.
  3. The fixed monthly repayment amounts help you budget ahead of time.
  4. They offer flexible payment terms to help make payment on their credit affordable.
  5. Your credit score determines the best offer you get, so you won’t get a credit that will be difficult to repay.

Is capitec trustworthy

Over the past few weeks, Capitec has proved its resilience to weather the Viceroy storm. As a result of its solid capital adequacy ratios, the Reserve Bank’s implicit guarantee of depositor protection, and effective communication, it has retained the trust of South African savers.


As a registered financial services provider, Capitec loan guarantees a smooth and hassle-free loan application process. The use of straightforward and diversified submission methods has made getting a loan a piece of cake. 

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