Capfin
Borrow R1,000 to R50,000 with fixed interest rates from 5% to 28.25% per annum and repayment terms of 6 to 24 months.
You will be redirected to Capfin’s website to continue your application.
Capfin Personal Loans: Affordable Rates and Flexible Repayments
If you need financial assistance for unexpected expenses or planned purchases, Capfin offers personal loans ranging from R1,000 to R50,000. Borrowers can choose repayment periods between 6 and 24 months, with fixed interest rates ranging from 5% to 28.25% per annum.
Interest is calculated daily and capitalised monthly. Monthly instalments include capital, interest, applicable fees and Capfin Credit Life. Approval and the final loan amount depend on your credit application and affordability assessment.
For example, a R4,000 loan over 12 months at 28.25% interest carries a maximum monthly instalment of R517 and a total repayment of R6,200, including VAT and applicable fees.
How to Apply for a Capfin Loan
The application process involves three main steps:
- Calculate your repayments: Use the Capfin Loan Calculator to select an amount and estimate your monthly instalments.
- Complete your application: Submit the online application form to receive a personalised pre-approval offer within minutes. You must also provide detailed income and expense information for an affordability assessment.
- Finalise your loan: If approved, select your loan amount, provide your banking details and upload the required documents. Funds may be available within 48 hours.
Pros of Capfin Personal Loans
One major advantage is the convenient online application process, supported by a calculator that helps you estimate repayments before applying.
Additionally, fixed monthly instalments make budgeting easier because repayments remain consistent throughout the agreed loan term.
Cons of Capfin Personal Loans
Although the advertised interest rates start at 5%, individual applicants may receive rates as high as 28.25% per annum.
Furthermore, initiation fees, monthly service fees and credit life insurance increase the overall borrowing cost. Final approval and loan conditions are also subject to affordability checks.
Final Verdict
Capfin offers a convenient personal loan option for South Africans seeking amounts between R1,000 and R50,000. Its online application and predictable repayments are attractive features. However, compare the total repayment cost and check your personalised interest rate before committing.