Capfin offers an accessible personal loan in South Africa, allowing individuals to borrow between R1,000 and R50,000. The loan can be repaid over 6, 12, or 24 months, with fixed interest rates ranging from 5% to 28% per year, based on the loan term. Besides the fixed rates, Capfin includes fees and mandatory credit life cover, providing transparency about total repayment amounts upfront.

How to Apply: Quick Steps

Applying for a Capfin loan is simple. Start by using their online calculator to estimate repayments. Fill out a brief application, get pre-approval, and then submit supporting documents including income details. After a final assessment, funds are typically disbursed within 48 hours.

Pros of Capfin Loan

One standout benefit is the fast approval process, with many customers reporting funds in their accounts within a few days. Capfin is transparent about costs, making monthly repayments easy to track. Borrowers can choose flexible repayment terms aligned with their budgets.

Cons of Capfin Loan

On the downside, the highest interest rate offered (28% per annum) is considered steep for those with less favourable credit. Credit life cover and service fees are mandatory, which may increase the total repayment amount, especially for shorter terms.

Our Verdict

Overall, Capfin loans provide quick and straightforward access to personal finance, with flexible loan amounts and repayment periods suitable for various needs. The clarity about fees and interest gives peace of mind, while fast turnaround time is a strong motivator. However, borrowers should review their affordability and compare costs before applying.