Frequently Asked Questions | Capfin Loans FAQs

Question 1

Loans Repayment Example 6 months

Accepted Answer

At Capfin we offer affordable and easy to manage loans of up to R50 000 with 6 or 12 month repayment terms. Our transparent loan products and services ensures that you get what you pay for with no hidden costs. We make managing your loan easy by allowing you access to your loan account at any time. Our affordability assessment process also considers the best interests of our customers.6 Months:Loan Amount: R4000Max Interest Rate: 5.0% per monthInitiation Fee: R535Max Monthly Service Fee: R69Monthly Capfin Credit Life: R15Max Monthly Instalment: R967Max Total Loan Repayment: R5804All figures listed are inclusive of VAT at the prescribed rate. Example based on the first Capfin loan in calendar year and prime interest rate at time of publishing (May 2025).

Question 2

Loans Repayment Example 12 months

Accepted Answer

12 Months:Loan Amount: R4000Max Interest Rate: 28.25% per annumInitiation Fee: R535Max Monthly Service Fee: R69Monthly Capfin Credit Life: R14Max Monthly Instalment: R519Max Total Loan Repayment: R6225All figures listed are inclusive of VAT at the prescribed rate. Example based on the first Capfin loan in calendar year and prime interest rate at time of publishing (May 2025).

Question 3

Loans Repayment Example 24 months

Accepted Answer

24 Months:Loan Amount: R4000Max Interest Rate: 28.25% per annumInitiation Fee: R535Max Monthly Service Fee: R69Monthly Capfin Credit Life: R14Max Monthly Instalment: R331Max Total Loan Repayment: R7943All figures listed are inclusive of VAT at the prescribed rate. Example based on the first Capfin loan in calendar year and prime interest rate at time of publishing (May 2025).

Question 4

What Do I Require To Apply For A Capfin Loan?

Accepted Answer

A valid SA ID; 3 latest payslips or 3 latest bank statements; Must be permanently employed and earning a monthly salary; A valid cellphone number; A valid SA bank account with one of the following banks supported by Capfin: Standard Bank; - ABSA; - FNB; - Nedbank; - Capitec; - African Bank; TymeBankMust be 18 years or older.

Question 5

What Documents Do I Need To Apply For A Capfin Loan?

Accepted Answer

A valid SA ID, and either 3 latest payslips or 3 latest bank statements.

Question 6

Where can I apply for a Capfin loan?

Accepted Answer

You may apply for a Capfin loan online (www.capfin.co.za), via SMS (33005), or visit any PEP or Ackermans store nationwide.

Question 7

How do I apply for a loan using the Capfin website?

Accepted Answer

Simply select the "Apply Now" button and follow the easy instructions.

Question 8

Is the Capfin online loan application process secure?

Accepted Answer

Yes. You will need to create a profile that can only be accessed using your SA ID number and a unique One-Time-Pin (OTP) which will be sent directly to the cellphone number you registered with.

Question 9

I have created a profile on the Capfin website.

Accepted Answer

How do I complete the loan application? All you need to do is log into your profile using your SA ID number. Capfin will then forward you a unique One-Time-Pin (OTP) which will be sent directly to the cellphone number you registered with. Then, simply follow the instructions.

Question 10

My loan application was declined. How long should I wait before trying to reapply for a Capfin loan?

Accepted Answer

You may reapply for a Capfin loan after 30 calendar days.

Question 11

How do I see what loan amount I qualify for?

Accepted Answer

You must apply for a Capfin loan to see what loan amount you qualify for. Thereafter, a loan offer will be prepared for you which will give you an indication of the loan amount you may qualify for, subject to the completion of our affordability assessment. The loan amount may change subject to additional credit checks performed once your application has been completed and submitted to us.

Question 12

How much may I apply for?

Accepted Answer

We offer loans of up to R50 000, based on the outcome of your affordability assessment, which considers factors such as your income and expenses, your credit profile, and payment behavior.

Question 13

How long will I wait for a pay-out?

Accepted Answer

Your loan will be paid out within 48 business hours after approval to your nominated bank account. Please remember, a delay in approving the DebiCheck mandate request from your bank will delay the transfer of your money into your bank account.

Question 14

How can I submit my documents?

Accepted Answer

Upload your documents right here, by selecting the upload tab on the website;Scan your documents at any PEP or Ackermans store nationwide;Email your documents to: docs@capfinmail.co.za with your SA ID number in the subject line after applying;Fax your documents to 086 688 0000 with your SA ID number noted in writing as reference after applying;With your permission, we can obtain your documents at no extra cost to you, if you bank with ABSA Bank, African Bank, Standard Bank or Nedbank;

Question 15

Do I need to submit my documents again when applying for another Capfin loan?

Accepted Answer

Capfin is a Registered Credit Provider and subject to the obligations set out in the National CreditAct and its Regulations. These Regulations as well as Capfin’s Credit policy may determine the validity period of thesedocuments for use in an affordability assessment. It is best to make use of the latest information to ensure that the most appropriate loan product is provided to a customer in line with their affordability assessment.Should you have documentation on record with us, please do not hesitate to contact our contact centre on 087 354 0000 to establish whether such documentation remains valid for a new loan application.

Question 16

I did not receive a One-Time-Pin (OTP) on my cellphone.

Accepted Answer

Can you tell me what my PIN is? For your security, PIN numbers are private. Please click on the ‘Resend OTP link’ to receive your unique One-Time-Pin (OTP) within 15 minutes, which will be sent directly to the cellphone number you registered with.

Question 17

I want to change my cellphone number.

Accepted Answer

In order to update your details, please contact one of our consultants at 087 354 0000 for assistance.

Question 18

I do not have my cellphone

Accepted Answer

I cannot log into my profile on the Capfin website.A One-Time-Pin (OTP) can only be sent to the cellphone number you provided when you registered. Request a new One-Time-Pin (OTP) and follow our simple instructions.

Question 19

How do I pay my Capfin loan account?

Accepted Answer

Your monthly instalment and any arrears will be deducted from the bank account details provided when your loan was approved. Alternative payment channels include:Bank deposit, using your Capfin Personal Loan account number or identity number as the deposit reference. In-store payment at Pep, Ackermans, or any other Pay@ outlets using the unique Pay@ reference number provided to you by Capfin.Capfin Pay@ Payment Portal, accessible via a link sent to you by SMS when setting up a payment arrangement.

Question 20

Will non-payment affect my credit record?

Accepted Answer

Non-payment will negatively impact your credit record.

Question 21

I was unable to pay my instalment.

Accepted Answer

Can I make an alternative payment arrangement?Yes, please contact Capfin’s Collections Department at 087 285 1234, log into your online profile, or use the USSD facility *134*6454# to make an alternative payment arrangement.

Question 22

Will my loan term be shorter if I pay more on my monthly instalments?

Accepted Answer

Making additional payments will not reduce your agreed monthly instalment. However, your loan term may reduce depending on the amounts paid and the term of the loan.

Question 23

How do I change my debit order pay date or bank account details?

Accepted Answer

You can change your debit order pay date or bank account details in one of three ways:• Log into your online profile, select the "Your Active Loans" tab, scroll down and select "Change My Payment Details." Add the new account number and/or select a new payment date.• Log into your online profile, select the "My Details" tab, scroll down and click on the "Change Payment Details" option.• Call the Capfin contact centre at 087 354 0000 to request updates.Please note that your respective bank may require you to approve a DebiCheck Authentication message when you change your debit order pay date or bank account details.

Question 24

How do I settle my account with Capfin?

Accepted Answer

You may call the Capfin contact centre at 087 354 0000, log into your online profile, or use the USSD facility *134*6454# to obtain your settlement quote. You may then make payment via direct deposit, EFT, or Pay@ in any PEP, Ackermans, or PEP outlet.

Question 25

How long is the settlement quote valid for?

Accepted Answer

The settlement quote provided by Capfin is valid until the date selected by you, and the settlement balance must be paid in full before that date. Please note that a settlement quote can never be valid for more than 21 days.

Question 26

Why is my settlement quote different from my balance?

Accepted Answer

Your settlement quote includes the unpaid balance of your loan, as well as unpaid interest, fees, and Capfin Life insurance (where applicable), which accrue up to the settlement date and may not yet be added to your account.

Question 27

What is DebiCheck?

Accepted Answer

DebiCheck is a secure debit order payment system that allows you to electronically approve your debit order details with your bank.

Question 28

Why was DebiCheck introduced?

Accepted Answer

DebiCheck was introduced to protect customers and organizations from fraudulent activity and debit order abuse, such as processing unauthorized debit orders or disputing valid ones with the bank.

Question 29

How does DebiCheck impact my Capfin loan application?

Accepted Answer

All Capfin customers will undergo our loan application process, and then receive instruction fromtheir bank to approve the debit order mandate from Capfin.Your bank will send you a USSD notification which you must accept or reject. If you do not receive a USSD notification, you can also approve the debit order mandate via one of your preferred banking channels.

Question 30

I forgot to approve my DebiCheck mandate. What must I do now?

Accepted Answer

Should you not respond within 2 minutes of receipt, then the debit order will automatically be loaded on your behalf and the agreed loan amount will be disbursed into your bank account.If the mandate was rejected, you will receive a call-back from Capfin and the USSD push notificationwill be resent to you.Please remember, a delay in approving the request from your bank will delay the transfer of yourmoney into your bank account.

Question 31

What is the difference between DebiCheck and what I currently have?

Accepted Answer

Historically, customers could give verbal or written consent to creditor providers to submit debit order instructions. With DebiCheck, all debit order mandates will be sent to you, via your bank for your approval before any deduction may take place. The bank will, therefore, store your DebiCheck debit order agreement with them.

Question 32

What are the benefits of a DebiCheck debit order?

Accepted Answer

DebiCheck serves to protect customers by issuing an active, authenticated mandate, which means service or credit providers cannot deduct more than the agreed ammount or abuse the debit order system.

Question 33

How do I approve Capfin’s DebiCheck mandate?

Accepted Answer

Your bank will notify you of the pending DebiCheck mandate that requires your approval. Be sure to follow your bank’s instructions carefully. If you do not accept the approval of the mandate, Capfin will not be able to process your loan. Your bank will advise you of several approval channels, which should confirm your Capfin DebiCheck debit order. This includes, but is not limited to the following:Internet BankingATM;Call Centre;USSD;Cellphone Banking;Banking App;Bank Branches.

Question 34

How often do I need to approve Capfin’s mandate?

Accepted Answer

You only need to approve Capfin’s DebiCheck mandate once, unless you make the following changes during your loan period; Every time you change your banking details; Every time you change your pay date; If your loan is rescheduled.

Question 35

What is Capfin Credit Life Insurance?

Accepted Answer

Capfin Credit Life is an insurance product designed to settle your outstanding loan balance in the event of your death, disability, or loss of qualifying income—giving you peace of mind when you need it most.

Question 36

How do I sign up for Capfin Credit Life?

Accepted Answer

You can select Capfin Credit Life as part of your loan application.

Question 37

What does Capfin Credit Life cost?

Accepted Answer

Capfin Credit Life is charged at R5.50 per month per R1000 of the loan amount. The Capfin Credit Life insurance premium is conveniently included in your monthly instalment.

Question 38

Who is the underwriter of Capfin Credit Life?

Accepted Answer

Abacus Life Limited (Registration No. 2007/032597/06) is a registered public company and registered life insurer.

Question 39

How do I submit a claim?

Accepted Answer

To submit a claim, contact Abacus Life using any of the channels below:Tel: 0800 777 444 (toll-free)Email: claims@abacus-insurance.co.zaWebsite: https://www.abacus-insurance.co.zaFor death claims, please submit a copy of the deceased’s ID to claims@abacus-insurance.co.za.

Question 40

Are there any waiting periods applicable?

Accepted Answer

There are no waiting periods applicable to death and disability claims. A loss of qualifying income claim has a waiting period of three months only for loans with a repayment period longer than 6 months. This waiting period will be effective from the date on which your Capfin loan was paid into your bank account.

Question 41

Does Capfin Credit Life Insurance have any exclusions?

Accepted Answer

Yes. Refer to your policy terms for all the exclusions. Simply log in here.

Question 42

Do I need to nominate beneficiaries in the event of a claim?

Accepted Answer

No. Capfin Credit Life insurance does not require any beneficiaries as the benefit covers your outstanding loan balance in the event of your death, disability, or loss of qualifying income. No monetary value is paid to you or your family members as your loan will be settled.

Question 43

I am in arrears on my loan account, will my policy lapse automatically?

Accepted Answer

Capfin reserves the right in its sole discretion to pay the premiums on your behalf and debit your Capfin loan account to ensure your policy remains in force. Should you be unable to pay your monthly instalments, contact our Collections Department on 087 285 1234.

Question 44

From which date is my Capfin Credit Life insurance effective?

Accepted Answer

Your Capfin Credit Life insurance is effective from the date your loan is paid into your bank account.

Question 45

What amount does my Capfin Credit Life insurance cover?

Accepted Answer

Your full outstanding loan balance.

Question 46

Where do I find my Capfin Credit Life policy terms and disclosure?

Accepted Answer

To view your Capfin Credit Life disclosure document and terms and conditions, simply log in here.

Question 47

Is Capfin Credit Life insurance compulsory when applying for a Capfin loan?

Accepted Answer

Credit life is mandatory for a Capfin loan at the time of application. You can choose to substitute Capfin Credit Life with your own credit life insurance policy.

Question 48

Can I cancel my Capfin Credit Life Policy?

Accepted Answer

Credit Life is a condition to your Capfin loan. You can only cancel your policy if you replace it with a similar policy, otherwise you will not comply with your Capfin loan obligations. To cancel your Capfin credit life insurance policy during the loan repayment period, you need to give the insurer 31 days’ notice in writing.

Question 49

What is the Free Death Benefit?

Accepted Answer

The Capfin Free Death Benefit is an internal benefit extended to Capfin’s customers in the form of an outstanding balance write-off in the event of our customer’s death. This benefit is not transferable and only applicable to loans paid out prior to 22 June 2023.

Question 50

What does the Free Death Benefit entail?

Accepted Answer

The Free Death Benefit simply means in the event of your death, Capfin will write off your remaining outstanding loan balance.

Question 51

Do I need to pay for the Free Death Benefit?

Accepted Answer

No, you do not need to pay as this is a free benefit to all Capfin customers.

Question 52

Would I be eligible for the Free Death Benefit?

Accepted Answer

Yes, you are eligible regardless if you are a new or an existing Capfin customer.

Question 53

How would my family member / appointed executor claim for the Free Death Benefit?

Accepted Answer

The person claiming the benefit on the late customer’s behalf will need to submit the following documents via email to info@capfin.co.za or legal@capfin.co.za:Copy of the deceased Capfin account holder’s ID; A clear copy of the death certificate;A clear copy of the Master’s Letters of Executorship (if applicable);Once the documents are received, Capfin will then independently verify the deceased’s status;Please note timelines are subject to delays due to third-party involvement.

Question 54

What amount is written off with the Free Death Benefit?

Accepted Answer

Capfin will write off the current outstanding balance of the account.

Question 55

In what other languages are my loan documents available?

Accepted Answer

On request, you can receive your loan documents in Afrikaans, Sesotho, isiZulu, and isiXhosa. Terms and conditions in these languages are also available on our website.

Question 56

How do I request my loan documents in another language?

Accepted Answer

By emailing your request to our legal department at legal@capfin.co.za.

Your questions, answered