How To Apply For Capitec Loan In South Africa

One of the difficulties individuals and small/medium businesses in South Africa face is obtaining a loan.  However, securing loan in South Africa is more straightforward, thanks to Capitec Bank. 

We will also discuss the terms of your loan and other features of the personal loans offered by this bank.

Overview of Capitec Loan

Since its founding in 2001, Capitec Bank has served over 10 million customers. It’s astonishing how far this business has come in less than twenty-two years. 

Capitec presently has more than 800 branches in South Africa due to this..

You can turn to this bank to apply for a loan and In South Africa, Capitec is one of the top digital loan  banks. Due to this, we will go over the application process and the standards you must fulfill to be approved for a loan at Capitec. 

Currently, the bank serves more than 16 million customers who use its credit facilities, savings accounts, and insurance products. In South Africa, there are more than 500 retail locations for Capitec. 

Most Capitec customers use their Global One accounts to do business. This is a savings account and credit line combined.

According to the South African Customer Satisfaction Index, with 82.2 out of 100, Capitec has the highest customer satisfaction rating. 

The bank also provides various loan products, such as credit cards, house loans, access facilities, term loans, personal loans, and vehicle loans. 

Furthermore, one can utilize the need-based credit that Capitec provides to pay for your medical expenses, education expenses, auto repairs, and home upgrades.

Capitec Bank’s Requirements for Personal Loans

You must submit a few documents to apply for a personal loan at Capitec. In addition to the papers, you must also have a good credit rating as failure to have this may pose a little risk to your credit. 

Your banking and credit histories are examined to determine your credit risk and affordability. High-credit-risk individuals might not be approved for a loan. 

High credit risk can reduce the amount you can borrow even if the loan is approved. Your credit risk will also impact your interest rates. 

A high-interest rate is typically associated with a high credit risk and the bank considers your income and expenses to establish affordability before authorizing the loan amount.

Here are some of the supporting documents that should be submitted with your loan application if you wish to be approved for a loan at Capitec:

  • Original South African identification demonstrating your legal adult age.
  • You will need a marriage document or divorce court order if your surname differs from your ID.
  • Proof of income in the form of the most recent paystubs or a three-month bank statement.

Who Can Apply For Capitec Loan?

Existing clients and individuals without bank accounts may apply for the Capitec personal loan. These customers typically find it simpler to use, particularly those who get their income through a Capitec account. 

You won’t need to submit any paperwork if you receive your salary from Capitec. Submit your application through the app and wait a few minutes for approval.

One can still be accepted if you are not a customer, but you must submit supporting evidence.

For non-customers, the application may take more than a day, depending on the availability of the required documents.

People who are at least 18 years old may apply for the loan. You must present three months’ bank statements or pay stubs to verify your income.

Benefits of Applying at Capitec Bank for a Personal Loan

For anyone above 18, the Capitec personal loan program is very useful because like every other provider of personal loans, the bank makes this lending facility available to clients with a reliable income source. 

This means that you will have to work or operate your own business. At Capitec, personal loan interest rates are variable and begin at 12.9%. 

The length and your credit history are just two factors that will affect the interest rate you pay on your loan. 

Personal loans from Capitec are available up to R250,000. Your income and credit history determine the amount you receive, much like the interest rate. 

The following are some benefits of obtaining a personal loan from Capitec:

  • Unique Personal Loan: One of the unique financial options in South Africa is a Capitec personal loan. Capitec only provides one kind of personal loan, unlike other banks. They benefit from continuously improving their personal loan selection because of this.
  • Longer Repayment Term: Capitec’s customized loan provides longer payment terms than personal loans from other banks. Up to 84 months are allotted for repayment. This suggests, nevertheless, that your final interest rate might be more significant.
  • Easy and rapid application process: The application process for the Capitec customized loan is straightforward. You have three options for applying for a loan with Capitec: in-person, online, or through a mobile app. The mobile app application process can take a few minutes.

The following are some additional advantages of the Capitec Personal loan:

  • A prompt decision, within minutes.
  • Fixed-rate monthly payments
  • The interest rate is just 12.9%.
  • Consolidating your debt can result in more affordable monthly payments.
  • Cheap death credit and layoff insurance
  • The Capitec app makes managing the loan simple.
  • Depending on your salary, you may borrow up to R250,000.

Loans Options Offered by  Capitec Bank

Banks offer a variety of loans to meet everyone’s needs and experience for a variety of reasons. There is no exception for Capitec Bank. 

For the benefit of millions of South Africans, Capitec bank provides a variety of loans and financial services. 

Let’s examine some of the loans that Capitec Bank has to offer in more detail:

  • Capitec Personal Loan: One financial service the bank offers to individual customers is personal loans. The loan can be repaid in installments, but you can pay it off sooner if that suits your needs better. Additionally, Capitec Bank offers loan insurance for personal loans so that you can be protected if you cannot repay the loan.
  • Online loan: You can visit the bank’s website from the comfort of your home. You can apply for various loans through their website or mobile app, including short-term, payday, and other personal loans. Due to little paperwork, the application process is simple, and you can quickly have your loan authorized.
  • Capitec Mortgage: South Africans can purchase new homes or modify their old homes thanks to Capitec home loans. You can move your current house loan from other financial institutions to the bank at a lower rate, which lowers your monthly payments. This is feasible because of their online house loan swapping bond scheme.
  • Student loans from Capitec: You can apply for student loans for up to R250000. You have up to 84 months to repay this loan, which must be repaid in installments. Students may apply for education loans through Capitec Bank’s website or by visiting any of its branches in South Africa.
  • Capitec Loans with payslip: Customers need pay stubs to apply for Capitec loans. For a loan to be guaranteed, you must demonstrate a consistent cash flow. An active Capitec Bank account or a minimum of three months’ worth of bank statements will explain this.
  • Capitec Short-term Loan: Capitec Bank extends short-term loans to its millions of clients. You can acquire this loan in your account because the application process is simple. Temporary loans, like any other short-term loan, are taken out in times of need and are frequently processed and repaid quickly.
  • Enterprise financing from Capitec: The bank would lend up to R250000 for self-employed business owners. To qualify for a business loan, your company must be registered as a trust, limited company, corporation, association, or other legal entity.
  • Capitec Quick Loan: Various instant loans are available to Capic Bank customers. Temporary, payday, and emergency loans are all available as immediate loans at the bank. As the name implies, the money appears in your account as soon as the bank confirms your application.

Documents Needed for Capitec Loan

You must  submit up to three papers to apply for a loan from Capitec. As follows:

  • Last payslip  
  • South African ID
  • The most recent bank statement demonstrating that you have received three wages in a row in your account

How To Contact Capitec Loan

You can take the steps below to get in touch with Capitec Loan:

  • Send a text message with your 13-digit ID number to 30679 and follow the on-screen instructions.
  • To speak with one of our agents, dial 0860 66 77 18.
  • Visit the closest branch.

Frequently Asked Questions

How long does it take for a Capitec loan to get approved?

The bank might need to spend an entire week on getting your loan approved. This is because Capitec will begin reviewing your information and determining whether it is safe for you and them to be awarded this loan once you submit an application for a loan there and send this business the three documents we mentioned above. 

The bank  will also take into account the interest rate they can provide you at this moment. 

However, remember that this duration may be either shorter or longer based on your particular circumstance.

Can I apply for a loan at Capitec even though I don’t bank there?

Yes, you can still be accepted if you are not a customer, but you must submit supporting evidence. People who are at least 18 years old may apply for the loan. 

You must present three months’ bank statements or pay stubs to verify your income. For FICA, you must additionally include proof of residency.


One of the top financial service providers in South Africa, Capitec Banks provides a comprehensive range of services that a conventional retail bank can provide. 

Customers can obtain loans, insurance services, savings, deposits, and other financial services through the bank, which has locations in several major cities.