PEP Loans through their partnership with Capfin have long been the preferred credit solution for most South Africans in need of unsecured short-term loans without having to go to their bank.
Capfin has been around since 2010, but it has made significant progress in establishing itself as a prominent player in the financial services sector, and its strategic relationship with retail giants PEP and Ackermans ensures that their services are available to everyone who needs them.
So, what is Capfin you might ask?
Capfin is a National Credit Regulator-registered micro lending organization that specializes in offering short-term loans of up to R50 000 with flexible payback terms of up to 24 months.
Their journey began with a three-person team and has grown to over 1000 employees, all seeking to deliver services that have a positive influence on people’s lives.
How do people apply for PEP Loans?
Those interested in applying for PEP Loans from Capfin can do so quickly online or at any PEP or Ackermans store.
To apply for a loan online, simply go to their website and fill out the application form with your personal information, loan amount, and repayment schedule.
Capfin will request that you provide your supporting papers by email, and your application will be processed as quickly as feasible. They will inform you through SMS after it has been accepted, and the money will be wired to you shortly after.
You can also make an application in a PEP or Ackermans shop with your South African Identity Document, three pay slips or bank statements, and the most recent proof of residency.
Their tellers will scan your ID and assist you in filling out the application, and you will be advised of the status of your application in approximately 15 minutes.
Benefits of PEP Loans
PEP provides three loan choices to its customers: Option 1 gives as much as R4 000 at a 5% interest rate with a 6-month payback period, Option 2 gives R8 000 at a 24.5 percent interest rate with a 12-month repayment period, and Option 3 gives R50 000 with a 24-month payback period.
Unlike traditional lending organizations such as banks, their loans are easy and have few criteria. You will not have to wait in long lines, face face interviews with financial managers, or even fill out heaps of paperwork if you use them.
By partnering with PEP and Ackermans, their consumers will be able to access their financial services regardless of where they are in the country.
PEP Loans from Capfin FAQs
What are the requirements to apply for loans from Capfin?
To apply, you must be a South African citizen with an Identity Document, be at least 18 years old, produce three recent payslips or three months bank statements, be working full-time and have a legitimate bank account into which your money is deposited, and have an active cellphone number.
How much can I apply for?
PEP provides cash loans of up to R50 000, however the amount you are eligible for is determined on your credit history and affordability.
Where can I apply for these loans?
PEP Loans from Capfin may be applied for online, by SMS, or in person at any PEP or Ackermans shop near you.
Is Capfin application process secure?
Yes, the application procedure is extremely secure, and it can only be accessed with your ID number and a One Time Pin (OTP) sent to your phone.
Can I change my cellphone number?
Simply phone their customer service agents at 087 354 0000, and they will assist you in updating your information.
How to get more information about PEP Loans
Capfin’s customer service hotline is 087 354 0000, and their knowledgeable consultants will be happy to assist you with any questions you may have about their financial services. People may also go to their website, www.pepstores.com, to get more information on what they have to offer.