Capfin’s personal loan offer is crafted for South Africans looking for straightforward borrowing options. You can apply for a loan amount ranging from R1,000 up to R50,000. Repayment terms are adaptable, with options from 6 to 24 months. The interest rate is fixed, between 5% and up to 27.75% per annum (calculated daily and capitalised monthly), giving you certainty around monthly payments. Transparency is a big plus, as initiation and service fees, as well as compulsory Capfin Credit Life cover, are included and clearly displayed during the application process.

How to Apply – Step by Step

1. Visit Capfin’s website to access their online application.
2. Use the loan calculator to pick the amount and term for your needs.
3. Complete a quick application form to get a personalised pre-approval offer within minutes.
4. Provide your banking details and necessary documents.
5. Capfin conducts a thorough affordability and credit assessment.
6. On approval, your loan is paid out – often within 48 hours.

Capfin Loan Pros

Capfin stands out for its simplicity, speed, and clarity. Approvals are quick, often on the same day. With a fixed interest rate, you know exactly what your repayments will be, and routine monthly instalments make it easy to manage your budget. The maximum loan amount of R50,000 supports a range of needs, from home renovations to education or side hustles. Helpful customer feedback, such as a 4.7 star Google rating, speaks highly of Capfin’s service and reliability.

Capfin Loan Cons

While Capfin’s fixed rates offer certainty, the upper end of the range (27.75% p.a.) can be high depending on your credit profile. There is a required Capfin Credit Life insurance cost, which, though providing security, adds to the total amount repayable. Also, those with a poor credit record may face challenges getting approved or offered lower amounts.

Our Verdict

Capfin’s personal loans offer a reliable way to access up to R50,000 quickly, with clear costs and predictable payments. The straightforward online application and swift turnaround mean you can address urgent needs or fund new possibilities without unnecessary hassle. If you value transparency and a hassle-free experience, Capfin is a worthwhile option, though always consider the total cost before applying.