Who can apply?
Capitec runs the affordability assessment required by the National Credit Act and checks the credit bureaus on every application. The basic conditions are:
✔️ Be 18 years or older with a valid South African ID
✔️ Earn a regular monthly income paid into a bank account (Capitec has published R3 000 a month as its floor)
✔️ Have a clean credit record: no judgments, no debt review, no recent defaults
✔️ Pass the affordability assessment on your income, expenses and existing debt
✔️ Be able to prove your income with a payslip or bank statements
What are the rates and fees?
✔️ Interest rate: personalised; Capitec’s published range starts around 12,5% a year and is capped by the NCA maximum for unsecured credit
✔️ Initiation fee: once-off, up to R1 207,50 (the legal cap), added to the loan
✔️ Monthly service fee: R69 for the duration of the loan
✔️ Credit life insurance: R2,58 to R4,50 per R1 000 of the outstanding balance, or your own policy
✔️ Early settlement: allowed, on request of a settlement quote, without a penalty
✔️ Loan amount: up to R500 000; term: up to 84 months
The figures above are the ones Capitec had published when we checked; the bank reprices every year and the maximum rate moves with the repo rate. Confirm the current numbers on the official page.
What documents do you need?
✔️ South African ID
✔️ Your latest payslip
✔️ Bank statements for the last three months if your salary is not paid into a Capitec account
✔️ For self-employed applicants, proof of income such as bank statements and a tax assessment
A piece of advice for you!
Run the calculator on the official page before you apply. It shows the instalment for each term and amount, and a small change in the term changes the total cost a lot.
If you are consolidating debt, list every account you want to close and their settlement balances. The loan only helps if the old accounts are actually settled and closed; keeping them open and borrowing again is how consolidation goes wrong.
Do not borrow the maximum you are offered. Borrow what the purpose needs and keep the difference as headroom in your budget for the instalment, the service fee and the insurance.
And check the bureaus before you apply: a free annual report from TransUnion or Experian shows whether anything is listed that Capitec will see.
Apply now on the official Capitec website!
On the official page you can calculate your instalment, apply online or in the Capitec app, or find a branch. Have your ID, payslip and bank statements ready. Tap the button to go there.
