Capfin Personal Loan is a strong contender if you need to borrow between R1 000 and R50 000. Applicants can choose repayment terms from 6 to 24 months. The interest rate is fixed, ranging from 5% for short terms (under six months) to a maximum of 28% annually for longer terms. This ensures you always know your total repayment amount up front.

The loan includes an initiation fee, monthly service fees, and mandatory Capfin Credit Life cover, which provides added security in tough times. The application process is completely online, and approval typically takes no more than 48 hours when all documents are submitted properly.

How to Apply: Step by Step

First, check how much you qualify for using the Capfin Loan Calculator on their website. Then fill in a quick application form for pre-approval. Next, upload the required documents and provide details about your income and expenses for an affordability assessment. After final approval, select your loan amount and submit your banking information to receive funds in your account.

Pros of Capfin Personal Loans

One big advantage of Capfin is how fast and straightforward their process is. Their competitive fixed rates and clear cost breakdowns make budgeting easier. You’ll also benefit from flexible repayment periods and responsive customer service that’s available throughout the process.

Cons of Capfin Personal Loans

The maximum interest of 28% per year for longer-term loans is on the higher side, especially if you don’t have the best credit profile. Additionally, Capfin loans are only available to South Africans with a valid ID and a bank account, which limits access.

Our Verdict

Capfin offers a flexible and fast personal loan solution for qualified South Africans. The simple, digital process, transparent fees, and credit life insurance make it a trustworthy option. Just make sure you carefully review your chosen loan amount and repayment period to pick what’s truly affordable for you.