The loan offered through PEP stores is a Capfin product. PEP is the place you hand in documents; Capfin is the registered credit provider that assesses the application, advances the money and collects the repayments.
This page walks through the process step by step, because the store-counter route has a specific sequence and knowing it in advance prevents the two or three trips most people end up making.
Eligibility Requirements at a Glance
The qualifying criteria are the credit provider’s, not the store’s.
- Be 18 years or older
- Hold a valid South African ID document or smart card
- Have a regular, verifiable income paid into a bank account in your own name
- Be permanently employed, or have income the provider accepts as verifiable
- Not be under debt review, sequestration or administration
- Have your own cellphone with you for one-time PIN verification
Income and Affordability Requirements
Step by step. You start the application through the provider’s own channel — typically by SMS, online or by phone. You then take your documents to a participating store counter, where they are scanned and forwarded. The credit assessment happens after that, and the outcome comes to you by message.
What the assessment is doing is set by law. The Act requires an affordability assessment before credit is granted: the provider must verify gross income, subtract statutory deductions such as PAYE and UIF, subtract the minimum living expenses prescribed in the affordability assessment regulations, and subtract existing monthly debt repayments. Lending without that assessment is reckless lending and is prohibited.
The three months of bank statements carry the assessment. They must be complete, in sequence and recent, and they must show the income deposits. Partial statements and screenshots are the commonest reason an application stalls before it even reaches the credit decision.
If the loan is approved, your bank sends you a DebiCheck mandate request to approve. Only once you approve it is the money advanced.
Credit and Financial Requirements
A credit bureau check forms part of the assessment and affects both the decision and the amount offered.
The agreement is regulated by the National Credit Act 34 of 2005 and the provider must be registered with the National Credit Regulator (NCR). Verify registration free of charge at ncr.org.za before you sign.
Because the store handles your documents, take a moment over the practical security of that: hand documents directly to the staff member at the counter, do not leave copies behind, and never let anyone else complete or sign the application on your behalf.
Before accepting an offer, ask for the interest rate, initiation fee, monthly service fee and credit life premium to be itemised, and for the total repayable amount over the full term. Compare that total against the amount you actually receive.
Documents and Verification Required
Take everything on the first visit.
- South African ID document or smart card
- Latest three consecutive months’ bank statements, complete and unedited
- Latest payslip, or the latest three where income varies
- Proof of residence, where requested
- Your own cellphone for verification messages
- Exact banking details — account number, branch code and account type
How to Apply and Improve Approval Readiness
Participating stores are the submission point only. The decision, the money and the collection all come from the credit provider.
- Ask your bank for stamped statements, or download the original PDFs — do not photograph a screen
- Check your free annual credit report from each bureau and dispute errors before applying
- Approve the DebiCheck mandate through your own banking app, never through a link you were sent
- Give exact banking details; a wrong branch code fails the mandate
- Ask for the total repayable amount in writing before accepting
- Take the smallest amount over the shortest term you can manage
Frequently Asked Questions
Do I apply at the store or online?
You start through the credit provider’s channels and take your documents to a participating store counter. The store does not make the credit decision.
What documents must I take?
ID, three complete consecutive months of bank statements, and your latest payslip. Incomplete statements are the main cause of delay.
How will I know the outcome?
By message from the credit provider, usually to the cellphone number you verified during the application.
Do I have to buy something at the store?
No. The application service is separate from retail purchases.
Amounts, terms, rates and fees are set by the credit provider and change. Confirm current criteria with Capfin, verify its NCR registration at ncr.org.za, and read the pre-agreement quotation before signing.