AfrifinHub / Capitec
Capitec: Personal loans & insurance
Personal loans & insurance explained using the existing Capitec coverage on AfrifinHub. Review the sections below and use the bank navigation to explore related topics.
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Capitec Personal Loans: Rates, Amounts & How to Apply
Source: existing AfrifinHub article. Original WordPress modification: 2026-09-17. This is not a new fact-check date.
Estimate your monthly instalment and total cost of borrowing using Capitec’s published fee structure. Adjust the sliders to match your situation.
This is an estimate only, using Capitec’s publicly disclosed fee structure and a mid-range credit life insurance assumption (R3.54 per R1,000 outstanding). Your actual rate, approval and exact repayment amount are confirmed by Capitec only after a full affordability and credit assessment — this tool does not constitute a loan offer or guarantee of approval.
How Capitec Personal Loans work
Capitec’s Personal Loan is an unsecured term loan, approved and disbursed based on your individual credit profile and affordability assessment. You can choose the loan amount, the repayment period, and whether to prioritise the lowest monthly instalment or the lowest overall interest rate. Once approved, funds are available immediately, and existing loans — including debt owed to other lenders — can be consolidated into a single Capitec facility, which can simplify multiple repayments into one monthly instalment and potentially lower your combined interest rate if your existing debt carries higher rates than what you qualify for at Capitec.
Applying without a traditional payslip
If your income isn’t a fixed monthly salary — for example, you’re self-employed, work on commission, or receive irregular income — Capitec can still assess a loan application, but you’ll need to show a consistent income pattern another way, typically through 3 months of bank statements showing regular deposits, rather than a single payslip. The underlying requirement doesn’t change: Capitec still needs to verify you can afford the repayments under the National Credit Act, so irregular income generally needs a longer and more consistent statement history to approve than a fixed salary would.
Other Capitec credit products
Beyond the unsecured Personal Loan covered on this page, Capitec also offers vehicle finance (through its partnership with WeBuyCars) for buying a car, and home loans (through its partnership with SA Home Loans) for buying or refinancing property — both are separate, secured credit products with their own application process, rates and terms, distinct from the Personal Loan. Capitec doesn’t currently offer a dedicated “student loan” product; students needing credit would typically apply for the standard Personal Loan or Credit Card, subject to the same affordability and minimum income requirements as any other applicant.
Representative rates and fees by loan size
Capitec publishes representative examples across five loan sizes and terms. Your actual rate, term and repayment depend on your own credit profile and affordability checks — these are illustrative ranges, not personalised quotes.
| Loan amount | Term | Interest rate | Max APR | Monthly repayment |
|---|---|---|---|---|
| R25,000 | 12 months | 12.50%–28.00% | 30.36%–48.27% | R2,366–R2,587 |
| R50,000 | 24 months | 12.50%–28.00% | 20.90%–38.64% | R2,485–R2,929 |
| R100,000 | 48 months | 12.50%–28.00% | 17.62%–35.33% | R2,821–R3,793 |
| R250,000 | 72 months | 13.40%–26.50% | 17.20%–32.56% | R5,446–R7,720 |
| R500,000 | 84 months | 15.00%–23.50% | 18.42%–29.21% | R10,411–R13,663 |
All figures include a once-off R1,207.50 initiation fee, an R69 monthly service fee, and credit life insurance of R2.58–R4.50 per R1,000 of outstanding balance each month. Example: a R50,000 loan over 4 years at 22% costs R84,811 in total. Source: capitecbank.co.za/personal/credit/personal-loan/.
That R84,811 total on a R50,000 loan is a useful illustration of why the “total cost of borrowing” matters more than the monthly instalment alone: nearly R35,000 of that figure — around 70% of the original loan amount — is interest, fees and insurance rather than the capital you borrowed. The same principle applies at every loan size: a longer term generally lowers your monthly instalment but increases the total interest paid over the life of the loan, since you’re paying interest for more months. When comparing loan offers (from Capitec or any lender), the total repayment figure and the APR are more reliable ways to judge true cost than the interest rate or monthly instalment in isolation.
Eligibility and documents needed
- Original South African ID document; applicant must be 18 or older
- Latest salary slip
- A bank statement showing your latest 3 consecutive salary deposits, only if your salary isn’t paid into a Capitec account
- Your offer is based on your banking and credit history, and your income versus expenses
How to apply
Ways to apply
Credit is typically approved within minutes online or in the app, and approved funds are made available immediately. Capitec requires credit life insurance on all Personal Loans, covering death, permanent or temporary disability, unemployment, or the inability to earn an income — the monthly premium reduces as your outstanding balance goes down.
Repayments and credit insurance
Repayments are fixed monthly instalments over your chosen term, with credit insurance premiums built into the total. Because the insurance premium is calculated on your outstanding balance, the amount you pay for it falls as you pay down the loan. Repayments and the loan balance can be tracked through the Capitec app.
Early settlement
You’re entitled to settle a Capitec Personal Loan early, in full or in part, at any point during the term. Under South Africa’s National Credit Act, credit providers must give you a settlement quote on request and cannot charge a penalty fee for settling early — you only pay the outstanding capital plus interest and fees accrued up to the settlement date, not interest for the remaining term you’re no longer using. In practice, this means paying off a Capitec loan ahead of schedule (for example, after a bonus or salary increase) reduces your total interest cost compared to running the full term, since both the interest and the credit life insurance premium are calculated on your outstanding balance rather than the original loan amount.
To settle early, contact Capitec directly (via the app, Client Care, or in branch) to request a settlement quote showing the exact amount owing as at your chosen settlement date, since the figure changes daily as interest accrues.
Frequently asked questions
How much can I borrow with a Capitec Personal Loan?
Up to R500,000, over a repayment term of 12 to 84 months, subject to your credit profile and affordability.
What’s the minimum interest rate on a Capitec Personal Loan?
Rates are personalised, starting from a minimum of 12.50% a year, based on your individual credit assessment.
What fees come with a Capitec Personal Loan?
A once-off R1,207.50 initiation fee, an R69 monthly service fee, and compulsory credit life insurance of R2.58–R4.50 per R1,000 owed each month.
How do I apply for a Capitec Personal Loan?
Online, on the Capitec app, by calling 0860 66 77 89, or by visiting any branch.
Why might my Capitec loan application be declined?
Common reasons include a flag from the South African Fraud Prevention Service (SAFPS) on your credit profile, or the credit provider assessing that you can’t afford further debt given your income and existing obligations. Capitec recommends asking directly why an application was declined rather than reapplying immediately, and addressing the specific issue first.
Can I pay off my Capitec Personal Loan early?
Yes, at any time, in full or in part, with no penalty fee under the National Credit Act. Request a settlement quote from Capitec for the exact amount owing on your chosen date — paying early reduces your total interest cost versus running the full term.
Can I get a Capitec loan without a payslip?
Yes, if you have irregular or self-employed income — you’ll typically need 3 months of bank statements showing consistent deposits instead of a payslip, since Capitec still needs to verify affordability under the National Credit Act.
Does Capitec offer car finance, home loans or student loans?
Yes to vehicle finance (via WeBuyCars) and home loans (via SA Home Loans) — both separate, secured products from the unsecured Personal Loan. Capitec doesn’t offer a distinct student loan product; students would apply for the standard Personal Loan or Credit Card instead.
Capitec Insurance: Funeral Cover & Life Cover Explained
Source: existing AfrifinHub article. Original WordPress modification: 2026-09-17. This is not a new fact-check date.
Funeral Cover
Capitec’s Funeral Cover helps pay for funeral expenses if you or a covered family member passes away, with cover up to R100,000 per person. You can add up to 21 family members to a single policy — up to 2 spouses, 5 parents, 10 children, and 8 extended blood relatives — and premiums don’t automatically increase every year, only if you choose to increase your cover amount.
| Life assured category | Maximum cover |
|---|---|
| Policyholder | R100,000 |
| Spouse (18–85 years) | R100,000 |
| Children (newborn–5 years) | R20,000 each |
| Children (6 years and older) | R50,000 each |
| Parents (26–85 years) | R50,000 each |
| Extended blood relative (0–5 years) | R20,000 each |
| Extended blood relative (6–85 years) | R50,000 each |
Pricing starts from R25/month if you apply and manage the policy through the app, or R40/month if arranged in branch — your actual premium depends on the cover amount and number of family members you choose. A 6-month waiting period applies to death from natural causes; if you switch from another licensed insurer and your previous waiting period is already served, Capitec will waive the waiting period for the same cover amount. Death by accident doubles the funeral benefit from day one. Claims can be submitted at a branch, by email, or on WhatsApp.
Life Cover
Life Cover is a separate product from Funeral Cover, designed to support your family’s longer-term financial needs after you’re gone — think ongoing living costs, outstanding debt, or your children’s education — rather than just immediate funeral expenses. Cover starts at R100,000 and can go up to R3 million, available to anyone up to age 65, with no medical tests required — just a short set of six to eight health and lifestyle questions, and you’ll know within minutes whether you’re covered.
Payout options
- Lump sum: a once-off payout to help beneficiaries manage larger financial responsibilities like debt or education costs
- Monthly income: a payout to up to 6 nominated adult beneficiaries for 24 months, from R1,000 per person
- Children’s needs: funds placed in a trust for your children’s education and care, released until age 21
- You can choose one option, or combine all three under a single policy
Premiums don’t automatically increase every year — only cover increases trigger new underwriting questions and a fresh waiting period on the increased portion. Waiting periods apply: 6 months for natural death, 24 months for suicide, though accidental death is covered from the start date.
Does Capitec offer a hospital plan?
No. As of this update, Capitec’s Insure range covers only Funeral Cover, Life Cover, and burial repatriation support — there is no dedicated Capitec hospital plan or medical scheme product. If you’re looking for hospital cash-back cover or comprehensive medical aid, you’d need to look at a dedicated medical scheme (like Discovery Health, Bonitas, or similar) or a standalone hospital cash plan insurer, since Capitec doesn’t currently compete in that specific category.
How to claim
Both Funeral Cover and Life Cover claims can be submitted at any Capitec branch, by email, or via WhatsApp — full step-by-step claims guidance is published on Capitec’s own claims pages. Keep in mind that a policy won’t pay out under certain conditions: death from natural causes within the 6-month waiting period, suicide within 24 months of the policy starting, death linked to unlawful or criminal activity, or non-disclosure of relevant health or lifestyle information when you applied.
Frequently asked questions
How much does Capitec Funeral Cover cost?
From R25/month via the app, or R40/month if arranged in branch, depending on the cover amount and number of family members added.
How much Life Cover can I get from Capitec?
From R100,000 up to R3 million, available to anyone up to age 65, with no medical tests required.
Does Capitec offer a hospital plan?
No. Capitec’s Insure range covers Funeral Cover and Life Cover only — there’s no dedicated hospital or medical scheme product.
How many family members can I add to Capitec Funeral Cover?
Up to 21 — including up to 2 spouses, 5 parents, 10 children and 8 extended blood relatives — under a single policy.
Is there a waiting period for Capitec insurance?
Yes. Funeral Cover and Life Cover both have a 6-month waiting period for natural death (Life Cover also has 24 months for suicide), though accidental death is covered from day one.