To get a Capitec loan you must be 18 or older, hold a valid South African ID document or smart ID card, have an income (permanent employment, self-employment, other income or a pension), and pass Capitec’s credit and affordability checks. You need your original ID, your latest salary slip and, if your salary is not paid into a Capitec account, a bank statement showing your last three consecutive salary deposits.
Capitec’s Personal Loan goes up to R500 000, repaid over 12 to 84 months, at a personalised interest rate. Meeting the minimum requirements does not guarantee approval: the amount and rate you are offered depend on your credit profile and what you can afford.
Eligibility Requirements at a Glance
- Age: 18 years or older.
- Identity: an original South African ID document or smart ID card.
- Income: permanently employed, self-employed, earning other income or receiving a pension.
- Credit status: not handed over, sequestered, or under debt review or administration.
- Affordability: enough income left after your expenses and existing debt to carry the new instalment.
You do not need to be a Capitec client to apply for a standard Personal Loan. Being one helps, because your salary deposits are already visible to the bank and you skip the bank statement. The criteria Capitec publishes are the same for government employees and private-sector workers; there is no separate public-servant loan listed.
Income and Affordability Requirements
Capitec does not publish a minimum salary for its Personal Loan. (Its published minimum income of R5 000, or R10 000 if self-employed, applies to credit card applications.) Instead, the loan amount is set by an affordability assessment, which the National Credit Act requires every registered credit provider to carry out before granting credit.
Capitec bases its offer on:
- your income, confirmed from your payslip and salary deposits;
- your monthly expenses and existing debt repayments;
- your banking and credit history.
If your income varies (commission, overtime, several sources), Capitec says lenders generally average it over three to six months. Clients with several income streams who are not paid into Capitec need the latest six months’ bank statements showing all income. Capitec clients whose Global One account has been active for at least three months may also be offered a Repay-as-You-Earn (RAYE) loan in the Capitec app. RAYE is a personal loan repaid from money coming into the account throughout the month and needs no documents.
Credit and Financial Requirements
Your credit record affects both approval and price. Capitec personalises its interest rate from your risk profile. At the time of writing its published Personal Loan rates and fees were:
- Interest rate: from 12.50% a year, depending on your profile and term (the published ranges run up to 28.00%).
- Initiation fee: R1 207.50, once-off.
- Monthly service fee: R69.
- Credit insurance: compulsory on all Personal Loans, charged per R1 000 of the outstanding balance each month. It covers death, disability, retrenchment and inability to earn an income. The premium falls as the balance falls.
- Maximum annual percentage rate: 48.27%, including fees and insurance.
You can move your credit to Capitec by using a Personal Loan to consolidate your existing loans into one instalment. It only makes sense if the new total cost is lower than what you are paying now. If you already have a Capitec loan and are struggling, Capitec offers payment relief: restructuring arrears, a temporary reduction for up to four months, catching up arrears over two to six months, or a payment break assessed case by case (aimed at retrenchment). Interest keeps running during a break.
Documents and Verification Required
- Your original South African ID document or smart ID card
- Your latest salary slip
- A bank statement showing your latest three consecutive salary deposits, only if your salary is not paid into a Capitec account
When you apply online, Capitec also asks identity questions to confirm it is really you before it gives an estimate. A RAYE loan offered in the app needs no documents; you confirm your income and expenses in the app instead.
How to Apply and Improve Approval Readiness
You can apply for a Capitec loan in three ways:
- Online: the Capitec online credit estimate takes three steps (your credit need, your personal details, identity questions) and then shows the credit options you can choose from.
- Capitec app: use the Credit Estimate feature. Any RAYE offer appears here too.
- Phone or branch: call Capitec on 0860 66 77 89 or visit any branch with your documents.
Once your estimate is ready you choose the amount, and whether you want the lowest instalment or the best interest rate. Capitec says credit is approved in minutes and the money is available immediately once you accept. Your instalment is worked out from the amount borrowed, the term (12 to 84 months) and your personalised rate. The monthly service fee and credit insurance premium are added on top, and the instalment stays fixed.
To improve your chances before applying:
- Check your credit report (you are entitled to one free report a year from each credit bureau) and fix errors or overdue accounts.
- Pay down or close small accounts you no longer use, so more of your income shows as available.
- Have your salary paid into a Capitec account, or get your three latest salary-deposit statements ready.
- Borrow only what you need. A longer term lowers the instalment but raises the total repayment.
- Read the pre-agreement quote before signing. It shows the rate, fees, insurance and total cost of credit.
Frequently Asked Questions
What do I need to get a loan at Capitec?
You need to be 18 or older with an income, your original SA ID, your latest payslip, and a bank statement with three consecutive salary deposits if you are paid into another bank. Capitec then checks your credit record and affordability.
How much must I earn to qualify for a Capitec loan?
Capitec does not publish a fixed minimum salary for its Personal Loan. What you qualify for depends on what is left of your income after expenses and existing debt. Get a free online estimate or ask Capitec for a figure based on your own details.
How do I get a Capitec loan estimate online?
Use the personalised credit estimate on Capitec’s website or the Credit Estimate feature in the app. You enter the credit you need and your details, answer identity questions, and see the options available to you. The estimate is based on your profile, so only Capitec can give account-specific figures.
How much do you pay back on a R50 000 loan at Capitec?
It depends on your rate and term. Capitec’s own representative example is R50 000 over four years at 22% a year, with a total cost of R84 811. That total includes the R1 207.50 initiation fee, the R69 monthly fee and insurance at R3 per R1 000 of the balance each month. A lower rate or shorter term costs less.
Can you move your credit to Capitec?
Yes, by taking a Personal Loan to consolidate your existing loans into one monthly repayment, subject to the usual credit and affordability checks.
Can I get a payment break on my Capitec loan?
Capitec considers payment breaks case by case, mainly after retrenchment, and also offers temporary reduced repayments and arrears restructuring. Contact Capitec before you miss a payment.
Can I get a Capitec loan if I am under debt review?
No. Capitec’s criteria exclude applicants who are under debt review or administration, sequestered, or handed over.
This page is general information, not financial advice. Rates, fees and criteria change, so confirm the current terms with Capitec Bank before applying. See also loan requirements and all finance and funding requirements.