About Capitec Bank
Capitec is one of South Africa’s largest retail banks, serving over 21 million clients. Known for its simplified banking model and low fees, Capitec offers personal loans (called credit facilities) that are among the most competitive on the market. The bank has invested heavily in digital services, making loan applications seamless through their mobile app.
Loan Details
- Loan amounts: R10,000 – R500,000
- Loan terms: 1 to 84 months (7 years)
- Interest rate: 13.5% – 29.25% per annum (based on credit profile)
- Payout time: Same day for existing clients, 1–2 days for new clients
- NCR registration: NCRCP13
Requirements
- South African citizen or permanent resident
- At least 18 years old
- Valid SA ID
- Minimum monthly income of R3,500
- Capitec bank account (can be opened during application)
- Not under debt review or sequestration
Fees
Capitec charges an initiation fee (once-off, added to the loan) and a monthly service fee. All fees are disclosed upfront before you accept the loan offer. There are no hidden charges and early settlement is allowed.
Pros and Cons
Pros
- Very competitive interest rates from 13.5%
- High loan amounts up to R500,000
- Easy application via Capitec app
- Trusted by millions of South Africans
- Long repayment terms up to 84 months
Cons
- Requires a Capitec bank account
- Higher minimum loan amount (R10,000)
- Strict affordability assessment may exclude some applicants
