A Capfin Loan emerged as one of the most prevalent credit solutions for individuals seeking financial assistance for various commitments. This accessibility and convenience have positioned them as a preferred choice for many.
With a Capfin Loan, clients have the opportunity to borrow up to R50,000. This is a significant amount that can help manage a variety of financial needs, from funding an emergency expense to consolidating existing debts, or even making a large purchase.
An essential advantage of Capfin Loans is their accessibility. They have streamlined their loan application process to allow customers to apply for a loan not only online but also physically in any PEP or Ackermans store, which are widespread across the country. This makes it possible for clients to apply for a loan at their convenience, regardless of their geographical location.
Why is a Capfin Loan appealing to customers?
Since 2010, Capfin has been providing affordable and user-friendly credit to thousands of loan applicants in South Africa, substantially enhancing their financial situations. The company operates under the parent company, Century Capital (Pty) Ltd, with its main office in Cape Town.
Distinct from traditional lending institutions like banks, Capfin has simplified the application process. This streamlined approach allows more borrowers to access their services, without the typical challenging prerequisites of conventional lenders.
In addition, Capfin’s maximum loan payout surpasses its competitors like Wonga, who generally provide loans with maximum amounts between R2 500 and R4 000.
Capfin adheres to responsible lending practices and has established collaborations with large retail firms PEP and Ackermans. This partnership ensures their services reach anyone in need across the country, under the governance of the National Credit Regulator.
Short-term loan applicants with Capfin can access up to R8 000, repayable within six months, while long-term loans go up to R50 000, repayable over 12 months.
To assist customers, Capfin offers online calculators that estimate potential loan amounts and the corresponding repayments and interest rates.
How to apply for a Capfin Loan?
There are three primary channels to apply for a Capfin loan: online, by phone, or in person.
Online Application
For online applications, navigate to Capfin’s website, and use their loan sliders to indicate your desired loan amount and repayment period. The site’s calculators will automatically calculate your monthly repayments, helping you decide whether to continue with the application process.
After submitting your application, a Capfin representative will contact you to verify your details and request supporting documents. If approved, the funds will be directly deposited into your bank account.
In-Store Application
For in-store applications, bring all required documentation to a local PEP or Ackermans store, where staff will process your application. Within 15 minutes of submission, you’ll receive an SMS with your application status. Upon approval, funds will be transferred to your account within a few hours.
Phone Application
To apply by phone, text “Help” to 43679, and a Capfin representative will reach out to you.
Benefits of getting yourself a Capfin Loan
Capfin offers straightforward and affordable loans of up to R50 000, repayable over a period of 6 to 12 months. The loan amount is determined by an affordability assessment, ensuring it suits your financial situation.
Every Capfin loan comes with a FREE Death Benefit, settling any remaining loan amounts in the event of the borrower’s death. All Capfin customers, new and existing, are eligible for this benefit at no extra cost.
A Capfin Loan also includes Funeral Insurance, providing coverage of R5 000 for natural death and R10 000 for accidental death. The payout goes to the specified beneficiaries, valid for six months after the Capfin customer’s death.
Capfin Loan Interest Rates and Fees
Example of an R50 000/12-month loan: According to Capfin’s online estimator, an R50 000 loan repayable over 12 months will incur approximately R8438.17 in interest and fees, totalling around R58 438.17. The monthly payment would be around R4 869.85, subject to financial approval and affordability evaluation.
Example of an R8 000/6-month loan: An R8 000 loan repayable over 6 months will generate around R2751.23 in fees and interest, totalling approximately R10 751.23. The monthly payment would be around R1 791.87, subject to loan application approval and eligibility assessment.
Common Questions about a Capfin Loan
What are the requirements for a Capfin Loan?
Applicants must be at least 18 years old, hold a valid South African Greenbook or Smartcard ID, have stable employment, provide three recent pay slips or bank statements, and have an active phone number.
Where can I apply for a Capfin Loan?
Applications can be submitted at any PEP or Ackermans store or through Capfin’s website.
How can I find out how much I’m eligible for?
Capfin provides an initial loan offer based on your affordability assessment. The amount may vary if further credit checks are conducted.
What is the maximum loan amount I can apply for?
You can apply for up to R50 000, subject to your financial assessment, credit profile, and creditworthiness.
How do I submit my documents?
When applying online, create an account and upload your documents via the application form on their website, or email them to info@capfin.co.za. Alternatively, bring your documents to a PEP or Ackermans store.
When will Capfin disburse my loan?
Loans are typically disbursed within 48 hours on business days.
Can I settle my Capfin account early?
You can settle your loan early by calling 087 354 0000 or dialing *120*5566# to receive a settlement quote, valid for seven working days.
How do I apply for a Capfin loan via SMS?
Send an SMS to 33005 with your SA ID number to apply for a Capfin loan. Standard SMS rates apply. Dial *134*6454# to manage your account.
Capfin Loan Contact Information
For more information about a Capfin Loan, contact them at +27 87 354 0000, visit their website, www.capfin.co.za, or inquire at your nearest PEP or Ackermans Store.
