Capfin Loan Review

Capfin [Capfin.co.za], a well-known microfinance lender, offers accessible personal loans to individuals seeking short-term financial solutions. Tailored for simplicity, their loans appeal to those needing quick access to funds, with straightforward application processes, minimal paperwork, and flexible repayment options. This lender operates through partnerships with retail giants, making it convenient for customers to apply in-store or online.

Capfin offers personal loans ranging from R1 000 to R50 000, with repayment terms of 6, 12, or 24 months, depending on the loan amount and your credit profile. If you are looking for a straightforward and accessible loan to manage short-term financial needs, whether it’s for home improvements, education, or unexpected expenses, read on to see how Capfin’s services may suit your requirements.

Capfin: Quick Overview

Loan Amount: R1 000 – R50 000
Loan Term: 6, 12, or 24 months
Interest Rate: Fixed rates, up to a maximum of 28% per annum (5% monthly for shorter terms)
Fees: Initiation and monthly service fees apply; total costs disclosed upfront during application
Loan Types: Unsecured personal loans for general use (e.g. education, home improvements, emergencies)

How much do you need?

R 100R 200R 300R 400R 500R 600R 700R 800R 900R 1 000R 1 100R 1 200R 1 300R 1 400R 1 500R 2 000R 2 500R 3 000R 3 500R 4 000R 4 500R 5 000R 6 000R 7 000R 8 000R 9 000R 10 000R 11 000R 12 000R 13 000R 14 000R 15 000R 16 000R 17 000R 18 000R 19 000R 20 000R 25 000R 30 000R 35 000R 40 000R 45 000R 50 000R 60 000R 70 000R 80 000R 90 000R 100 000R 110 000R 120 000R 130 000R 140 000R 150 000R 160 000R 170 000R 180 000R 190 000R 200 000R 210 000R 220 000R 230 000R 240 000R 250 000R 260 000R 270 000R 280 000R 290 000R 300 000R 310 000R 320 000R 330 000R 340 000R 350 000

Repayment period

6 months7 months8 months9 months10 months11 months12 months13 months14 months15 months16 months17 months18 months19 months20 months21 months22 months23 months24 months25 months26 months27 months28 months29 months30 months31 months32 months33 months34 months35 months36 months37 months38 months39 months40 months41 months42 months43 months44 months45 months46 months47 months48 months49 months50 months51 months52 months53 months54 months55 months56 months57 months58 months59 months60 months61 months62 months63 months64 months65 months66 months67 months68 months69 months70 months71 months72 months

Monthly repayment

R 211

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*Representative example: Estimated repayments of a loan of R30 000 over 36 months at a maximum interest rate including fees of 27,5% APR would be R1232.82 per month.
Loan amount R100 - R350 000. Repayment terms can range from 3 - 72 months. Minimum APR is 5% and maximum APR is 60%.

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Capfin Full Review

Navigating through Capfin’s loan options reveals a fusion of simplicity and practicality. The company prioritises streamlining the loan application process, ensuring potential borrowers aren’t hindered by overly complex procedures or excessive paperwork. This aligns with their broader aim of making financial services more accessible and less daunting.

Considering the overall experience involves assessing the different stages of engagement with this lender, from the initial application to the repayment process. The application process is notably easy, with Capfin.co.za offering multiple application channels, including in-store options at retail partners, enhancing convenience.

Clear disclosure of repayment terms, interest rates, and fees ensures borrowers have a comprehensive understanding of their loan terms. This transparent approach contributes to a more positive and informed borrower experience with them.

Who Can Apply for a Capfin Loan?

Capfin’s loans aim to be accessible, but certain criteria must be met for eligibility:

• Age Requirement: Applicants must be at least 18 years old.
• Identification: A valid South African ID is required to ensure services are limited to genuine residents and citizens.
• Employment Status: Applicants must have a stable income. Verification through recent payslips or bank statements is required, reflecting their commitment to responsible lending.

This loan provider distinguishes itself by integrating loan services within retail spaces, enhancing accessibility and convenience for borrowers. This allows customers to access financial services where they conduct other business.

Their emphasis lies in simplicity and transparency, aiming to demystify the loan processes. Capfin focuses on providing straightforward financial solutions, removing the often intimidating complexities and jargon typical in the financial sector.

Types of Loans Offered by Capfin

Requirements for a Capfin Loan

Navigating the requirements for a loan application can often feel like a hefty task, laden with paperwork and myriad details to keep track of. But with Capfin, the process is streamlined to be as simple and uncomplicated as possible.

Firstly, it’s crucial to ensure that you have all the necessary documents and information ready before starting the application process. Preparation significantly smoothes the process, making it more seamless and less stressful.

• Valid Identification: You’ll need a valid South African ID (green barcoded ID, smart card ID, or passport) to verify your identity and ensure secure, legitimate transactions.
• Proof of Income: Provide proof of stable income, such as recent payslips or bank statements, so they can assess your ability to repay the loan and offer suitable terms.
• Contact Information: Make sure you have a valid cell phone number and email address to ensure they can communicate with you throughout the application process.
• Residential Address: Providing your current residential address adds another layer of security and verification to the loan application process.

Eligibility Check

Before starting the application process, it’s beneficial to have an idea of whether you meet Capfin’s eligibility criteria. This lender offers tools and methods for potential borrowers to pre-check their eligibility, ensuring they meet the basic requirements necessary to apply for a loan.

• Online Tools: Capfin.co.za may offer tools that allow potential borrowers to gauge their eligibility. These tools often involve entering basic financial information for a preliminary assessment.
• Customer Service: Reach out to their customer service for guidance on eligibility criteria. They can help potential borrowers understand whether they meet the necessary requirements.
• Retail Partners: Given their association with various retail partners including PEP and Ackermans, potential borrowers can seek guidance in-store. Staff at these locations can assist with queries related to eligibility, providing clarity on proceeding with the application process.

Security and Privacy

Capfin places the utmost priority on safeguarding clients’ personal and financial information. Understanding the critical necessity of a secure environment in handling financial transactions and personal details, this lender employs robust measures to shield against unauthorised access and misuse of information.

Their online platforms are fortified with secure socket layer (SSL) encryption, ensuring that sensitive data, like ID numbers and bank details transmitted during the loan application and management processes, are meticulously protected. This encryption technology acts as a strong barrier, reducing the risk of malicious interception.

This loan provider encourages a culture of security awareness, urging customers to remain vigilant and take a proactive stance in safeguarding their information. They facilitate avenues for the prompt reporting of any suspicious activities, fostering a collaborative security approach where both the company and its customers actively participate in fortifying the integrity of financial and personal data.

Who Are Capfin Loans Best Suited For?

Capfin loans are ideal for individuals who:

• Need R1 000 to R50 000 for personal expenses, emergencies, or education.
• Have a stable income and can provide payslips or bank statements.
• Prefer repayment terms of 6, 12, or 24 months.
• Want to apply online, via SMS, or in-store at PEP or Ackermans.
• Value transparent terms and a lender regulated by the NCR.

How Much Money Can I Request From Capfin?

Capfin offers personal loans of up to R50 000, available with repayment terms of 6 or 12 months, depending on the loan amount. If you opt for a loan above R8 000, the repayment period must be 12 months. This structure is designed to provide flexibility while ensuring that the loan terms are manageable and align with the borrower’s financial situation, subject to affordability assessments to promote responsible lending​

How Long Does it Take to Receive my Loan Payout from Capfin?

The speed at which you can access the funds from your loan is another crucial aspect to consider. This lender aims to make this process as swift and straightforward as possible, recognising the often urgent nature of financial needs. The average processing times are optimised to ensure that borrowers can access their funds with minimal delay.

Various factors can influence the withdrawal speed, including the verification of provided information and the processing of the application. Capfin endeavours to navigate these factors efficiently, streamlining the process to facilitate quicker access to funds. The objective is to ensure that the money is in your hands as swiftly as possible, allowing you to address your financial needs without undue delay.

Capfin: Overview in Detail

Attribute	Detail
Financial	Capfin, a division of Pepkor Trading (Pty) Ltd
Product	Personal Loans
Minimum age	18 years
Minimum amount	R1 000
Maximum amount	R50 000
Minimum term	6 months
Maximum term	24 months
APR	Up to 28% PA
Monthly Interest Rate	Up to 5% PM
Early Settlement	Allowed, no penalties
Repayment Flexibility	Flexible repayment plans
NCR Accredited	Yes
Our Opinion	✅ Efficient online application
	✅ Transparent fees and charges
	❌ Limited to personal loans
User Opinion	✅ Convenient online and in-store applications
	❌ Higher rates for shorter terms

How Do I Repay My Loan from Capfin?

• Debit Order: This lender sets up an automatic debit order from your bank account for monthly repayments.
• In-store Payments: Visit any PEP or Ackermans store to make cash payments towards your loan.
• Electronic Transfer: You can also repay through EFT (Electronic Funds Transfer) using their banking details.
• Settlement in Advance: If you want to pay off your loan early, you can request a settlement quote by contacting their support team. The settlement amount will include the balance along with interest and fees up to the chosen settlement date.
• Manage Payments via USSD: Dial 1346454# to check your loan balance or make repayment arrangements.

Customer Service

If you have lingering questions or uncertainties, reaching out to their customer service is a viable option. They are equipped to provide clarifications, offer guidance, and assist in resolving any challenges you might encounter during the loan process. A responsive and helpful customer service team is essential in ensuring that the loan journey is as smooth and hassle-free as possible, fostering a sense of reliability and trust between the borrower and the lender.

Capfin’s Contact Channels

Alternatives to Capfin

When considering alternative personal loans in South Africa, there are several notable competitors to explore. Each offers unique features and terms that cater to different financial needs and situations. Below is a side-by-side comparison table with three top competitors: Absa, African Bank, and Capitec Bank.

Comparison Table

Feature/Company	Capfin​	Lime24	Absa​	African Bank​	Capitec Bank
Loan Amount	R1 000 to R50 000	R 500 – R 8 000	R2 000 – R350 000	R2 000 – R350 000	R1 000 – R250 000
Loan Term	6,  12 or 24 months	Up to 37 days	2 – 84 months	7 – 72 months	7 – 84 months
Interest Rate	5% per month (6 months), 28% max (12 months)	28.9% – 39.8%	Prime + 17.5% per annum	Fixed at 12%	13.75% – 28.75% per year
Application Process	Online, SMS, in-store at PEP and Ackermans	Online	Online and branch	Online, phone, branch	Online, app-based
Eligibility	18+ years, SA ID, stable income, active SA bank account	18+ years, SA ID, active SA bank account	18+ years, R2000 monthly income	18+ years, proof of income, SA citizen	18+ years, steady income, credit profile review
Repayment Options	Debit order, bank deposit, in-store payment	Debit order, early repayment option	Flexible terms, early settlement benefits	Fixed monthly repayments	Fixed monthly repayments, consolidation option
Additional Services	Death benefit	Discounts on subsequent loans, referral program	Insurance coverage, online/mobile banking	Competitive fixed interest rates, flexible loan terms	High customer satisfaction, instant loan approval for app users
More Info		Lime24 Review	Absa Review	African Bank Review	Capitec Review

Pros and Cons of Capfin

History and Background of Capfin

Capfin has carved out its place in the financial landscape as a dependable and accessible personal loan provider. Founded with a vision to simplify the loan acquisition process, this loan provider has concentrated on creating a system that is straightforward and free from unnecessary complexities. Their journey started with a goal to make financial services more approachable, ensuring that customers can navigate their loan processes with ease and clarity. The company’s collaboration with various retail partners further demonstrates their commitment to accessibility, enabling customers to integrate their financial needs into their regular retail experiences. This connection between financial services and retail spaces highlights their innovative approach, showcasing their dedication to customer convenience and optimising service.

Conclusion

When contemplating Capfin as a loan provider, it’s crucial to assess the aspects covered in this review and match them with individual needs and financial circumstances. Their overall rating mirrors its approach to simplifying the borrowing process, ensuring that loans are accessible and manageable for a diverse range of individuals. While each borrower’s needs are unique, their offerings appear to accommodate a variety of financial requirements, solidifying its position in the competitive landscape of personal loan providers.

Frequently Asked Questions