Capfin Loans Application Complete Guide 2023

Quick Overview of Capfin Loans

When it comes to loans for workers one of the leading lenders that comes to mind is the Capfin loans. With good track record and

being an efficient and transparent financial institution, it leaves no doubt in the minds of its customers to continue doing business with them. Although it is not a leading institution when it comes to banking services, Capfin sole service is to provide loans to qualified applicants in a very simplified process.

They offer a loan of up to R50,000 (fifty thousand Rands).

Capfin Loan Applications

If you intend to apply for a loan from Capfin loans, you can walk to any nearest office and fill out the forms and provide all the necessary documents and submit them for review after which, if approved, cash will be credited into your bank account.

Because you have to provide some personal details, you have to also agree with the consent in compliance with the privacy policy of data protection in South Africa.

You can also apply for a loan at PEP stores or Ackermans.

After submission of the application, Capfin will process the application to make sure the amount the applicant can receive and correspond back to the applicant. And if the applicant is satisfied with the amount, within 48 hours (2 working days), the fund is deposited or credited into the applicant’s bank account.

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Capfin Online Loan Applications

The online application platform gives much more convenient to apply for a loan in the comfort of your home.

Capfin has made it possible for applicants to apply for a loan online without going to the office physically.

To apply for a personal loan online follow these instructions outlined below and submit the needed documents and wait for the approval.

  • Visit the website https://www.capfin.co.za/apply-now/application-details
  • Provide your Name, Surname, SA ID number, Cellphone number (for authentication) , email address (loan application documentation will be sent to this email address).
  • All the field labeled with the asterisk are mandatory, it means you have to provide them.
  • To consent to the request for email correspondence or telemarketing messages either through email or SMS, select *Yes* otherwise select *No*. Please note, you are not obliged to choose Yes before your application will be considered.
  • Read the “Terms and Conditions” and accept it by checking the box
  • Click on “Continue” button and submit the needed documents by uploading them as attachment in the correct file format.
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Capfin loan application requirements /Documents

You will have to meet the following requirements before your application can be completed and considered.

  • Applicant must be working currently
  • Current three months payslips or recent bank statements
  • Valid South African ID
  • Must at least eighteen (18) years.
  • Must be employed permanently and earning a monthly salary.
  • Must have a valid cell phone number
  • Must have a functional bank account

Capfin Loan Approval Process

Capfin loan approval process is very simple and straightforward. Submit your documents especially your bank statement or payslips. They will go through the documents and an assessment is done to see the amount of money you qualify for depending on your financial standings. After that, the applicant (you) will be contacted on the qualifying amount and if he or she agrees, the cash will be disbursed into the applicant’s bank account within a maximum of 48 business (working) hours.

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https://youtu.be/1OZbeiqk4Pw

Capfin loan calculator

Capfin loan calculator

On the front page of Capfin loans website is the Capfin loan calculator. The calculator helps you to know the amount (the Principal) and the interest that would be paid over a period of time. Time runs from 6 months to 12 months maximum. No loan can go beyond 12 months (1 year).

  • The slider can be moved from left to right indicating the amount of cash you wish to apply for. Any amount less than or equal to R8000 will be paid in six months time frame. The amount of money increases from left to right as the slider moves and vice versa.
  • Installment : This is the exact amount the applicant will be paying every month. It includes interest, charges.
  • Interest rates and fees : This is the interest rate in terms of cash plus the fees (charges)
  • Total To Repay : This is the total amount of money to be paid altogether including the amount collected (Principal) plus interest rate and charges.
  • For example, if you take R8000 for six months, then R1786.43 will be paid as installment for six months. Interest rates and charges will amount to R2718.57. Total to Repay will amount to R10718.57

Capfin loans operating hours

Capfin operates within the hours of 08.00 to 17.00 hours on working days.

  • 08.00 – 17.00
  • 8am – 5pm on week days

Does Capfin give loans to pensioners

Pensioners might not qualify for Capfin Loans because they may not be currently working and receiving salaries on monthly basis, or some might be receiving SASSA grants. Whatever be the case, you can contact Capfin to inquire about this using the website or contact center details provided above.

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Capfin loans contact details

Capfin, as a lending institution has a very wide range of contact avenues, and they are listed below

  • Tel: 087 354 0000
  • SMS : Send ‘HELP’ to 43679
  • USSD : *120*5566#
  • Email : [email protected]
  • Physical Address :
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1 Industrie Street
Kuils River
7580
Cape Town
South Africa

Capfin loans for blacklisted clients.

Capfin loan does not approve loan applications for people who have been blacklisted, however, you can always contact Capfin on their Contact page listed above for further information.

Capfin loans interest rates

Capfin provides an interest rate depending on the duration of the loan. Remember te loans can be contracted in two phases of duration thus 6 months or 12 months.

The table below gives a glimpse of the current interest rates and other charges or fees attached for the specified loan amount.

SIX MONTHS 12 MONTHS
LOAN AMOUNT R4000 R4000
INTEREST RATE 5% per month 25% per annum
INITIATION FEE R535 R535
MAX MONTHLY SERVICE FEE R69 R69
MAX MONTHLY INSTALMENT R932 R494
MAX LOAN REPAYMENT R5594 R5925
Capfin loans Interest Rates and other Miscellaneous charges
Capfin loans interest rates
Capfin loans interest rates and other charges

Capfin loans reviews

A lending company will be good or bad depending on one’s personal experience with it, but none of us has ever contracted any loan from Capfin loans, so it will be difficult and a bit unfair to conclude.

You can share your personal experience with us in the comment section below especially how quickly they respond to issues raised or encountered.

Capfin says the following are the reasons why you should apply for their loans :

  • Easy loan application process
  • No hidden charges or interest rates
  • Bank statement can be collected straight from your bankers after your consent and approval
  • 24/7 access to your bank account
  • Loan is write off in case of client’s death
  • Application approved after 48 business hours (i.e two business days) and the funds credited to the bank account.