Capitec Personal Loan Review

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Product Review

With Capitec you are able to apply for a personal loan online. The personal credit plan offers you flexible terms as you are able to borrow up to R200 000 and pay it back between 1 and 84 months.

You are able to choose your loan amount and when you will pay it back. Once the loan has been approved, you will have instant access to it.

With Capitec you can also consolidate all of your loans so that you are able to have an easier repayment plan each month.

Application Process

The application process is easy.

First use their credit calculator to have an idea of how much you need and the repayments you will need to make plus the interest.

You will find an in-depth online form that will ask you for your personal details and financial ones.

Once you have sent the application, it will be processed and you will find out if you have been approved or not.


  • Money available instantly on approval
  • Borrow up to R200 000
  • Fixed monthly repayments
  • Consolidate loans
  • Retrenchment and death cover


Interest Rate/APR

15.50% – 60.00%. Depending on size of loan and term

Implications of Non-Payment

• Arrears are recorded at the credit bureaus, which gives you a bad payment profile
• You’ll qualify for less credit and a shorter credit term from credit providers
• You’ll be charged higher interest rates on future credit applications from all credit providers
• A number of defaults will result in no further credit offered from credit providers and handover
• If you are handed over, you may never be offered credit again
• Extra legal costs when handed over

Financial Implications

Once-off initiation fee of  R1140 + Monthly service fee of R57. We include retrenchment and death cover on all loans 6 months or longer for FREE

Potential Impact to Users’ Credit Score

Bank credit checks affecting credit score


Unless stated otherwise there are no renewals for the loan service.

Collection Practices

Debit order over the repayment period