To get a Capitec Bank loan you must be 18 or older. Capitec’s personal loan page does not state a minimum salary, so your income must simply pass its affordability check, and you must be permanently employed, self-employed, earning other income or receiving a pension. You can apply in the app, online, by calling 0860 66 77 89 or at a branch.
Capitec still decides each application on affordability and credit record, so meeting the minimums does not guarantee approval.
Eligibility Requirements at a Glance
- Age: 18 years or older (the age requirement for Capitec bank loans)
- Employment or income: permanently employed, self-employed, earning other income or receiving a pension
- Minimum salary: Capitec’s personal loan page states none. Its how to qualify for credit page gives R5 000 (R10 000 for self-employed clients) as the minimum income for a credit card application, so confirm your own figure with the estimate in the app
The types of loans offered by Capitec Bank are: a personal loan (up to R500 000 over 12 to 84 months), an access facility (revolving credit of up to R500 000, repaid over up to 60 months), a credit card, an education loan (up to R500 000, up to 84 months), vehicle, home improvement and medical credit through partners, a home loan through SA Home Loans, and credit for multiple income earners (18 or older, earning more than R5,000 a month for at least six months). Capitec Business loans are separate; see our guide to Capitec business loan requirements. Home loans are also separate: see Capitec home loans requirements.
Income and Affordability Requirements
Capitec checks your income against your existing commitments before it lends. If your salary is not paid into Capitec, you supply a bank statement (see documents below). Capitec’s personal loan page lets you borrow up to R500 000 and choose a repayment period of 12 to 84 months. Its examples show a once-off initiation fee of R1 207.50, a monthly service fee of R69, credit life insurance of R2.58 to R4.50 per R1 000 a month, and interest rates of 12.50% to 28.00% depending on your profile. Use the quote in the app for your own figures.
Credit and Financial Requirements
Your credit record affects approval and the rate you are offered. Credit insurance is required on the personal loan, and Capitec states it is available up to age 65. Capitec’s how to qualify page says you must not have been handed over, sequestered or placed under debt review or administration. Capitec says credit is approved in minutes and the money is available immediately.
Documents and Verification Required
- Original ID
- Latest salary slip
- A bank statement showing your latest 3 consecutive salary deposits, only if your salary is not paid into Capitec
How to Apply and Improve Approval Readiness
Apply in the Capitec app, online or at a branch, or call 0860 66 77 89. See the personal loan page for the current steps. To improve your chances, check your credit report first, avoid several applications at once, and ask for the total cost of credit, including the initiation and service fees, before you accept.
Frequently Asked Questions
What age must I be for a Capitec bank loan?
18 or older. Credit insurance on the personal loan is available up to age 65.
What types of loans does Capitec Bank offer?
A personal loan, an access facility, a credit card, an education loan and credit for multiple income earners, plus partner credit for vehicles, home improvement and medical costs, a home loan through SA Home Loans, and separate business products. See Capitec’s access facility page for the revolving option.
What are the requirements for a loan at Capitec Bank?
Be 18 or older, have qualifying income that passes the affordability check, and provide your ID, latest salary slip and, if your salary is not paid into Capitec, a statement of 3 consecutive salary deposits.
Do I need a Capitec account?
Capitec’s documents list allows for salary paid elsewhere, in which case you supply a statement showing 3 consecutive salary deposits. Confirm with Capitec whether you must bank with it.
Can I settle early?
Capitec does not say on the pages we could open. Ask for a settlement quotation.
How much can I borrow from Capitec?
Up to R500 000 on a personal loan or an access facility, and up to R500 000 on an education loan. Your actual amount and interest rate depend on your credit profile and affordability.
Can I move my existing loan to Capitec?
Partly. Capitec says a personal loan lets you consolidate existing loans into one monthly repayment. Its help centre adds that an existing loan that shows on the credit bureau can be settled with the proceeds if you qualify for a Capitec personal loan or access facility.
See loan requirements and browse all finance and funding requirements. Confirm current terms with Capitec.