Requirements

Pep Loans Requirements

PEP does not lend money itself. The loans you apply for at a PEP till are Capfin personal loans. Capfin is a division of Pepkor Trading (Pty) Ltd, the group PEP belongs to, and a registered credit provider (NCRCP13053). Your credit agreement is with Capfin, and so are the approval and the payout.

That means the PEP loans requirements are Capfin’s requirements. You need to be 18 or older, hold a valid South African ID, be permanently employed on a monthly salary, have a bank account at a bank Capfin supports and a working cellphone number, and pass Capfin’s credit and affordability checks. The store’s part is to scan your documents and send your application to Capfin.

Eligibility Requirements at a Glance

According to Capfin’s official FAQ and PEP’s Capfin loan page, you must meet all of the following before you apply:

Meeting these criteria only lets you apply. Whether you are approved, and for how much, depends on Capfin’s credit check and affordability assessment. Loans go up to R50 000, repayable over 6 to 24 months, but most applicants are offered less than the maximum.

Income and Affordability Requirements

Capfin asks for a permanent job and a monthly salary. It does not list self-employment, piece work or grant income as qualifying income. That answers the common question about PEP loans for unemployed people: if you have no salary, you do not meet the published criteria, and PEP staff cannot override that at the counter.

Before it lends, Capfin has to check that you can afford the repayments. The National Credit Act requires every credit provider to do this, and granting a loan to someone the assessment shows cannot afford it is reckless lending. Capfin’s own process has three steps:

  1. You apply and receive a personalised pre-approval offer
  2. You supply details of your income and expenses for the affordability assessment
  3. Capfin confirms final approval and the amount it can lend you

Capfin says the amount it offers depends on your income and expenses, your credit profile and your payment behaviour. It may also change after further credit checks once you submit the full application. The instalment you would pay has to fit into what is left after your existing debt repayments and living costs.

Credit and Financial Requirements

Every application includes a credit check. For people searching for PEP loans for bad credit: Capfin does not publish a minimum credit score and does not advertise loans for blacklisted borrowers. It does say that your credit profile and payment behaviour affect both the decision and the amount. A poor record makes a decline or a smaller offer more likely, but it does not automatically rule you out.

The cost depends on your profile. Capfin’s published repayment example (July 2026) is a R4 000 loan over 12 months at the maximum rate of 28% a year. It has a R535 initiation fee and a monthly service fee of up to R69, and with credit life the maximum instalment is R516, for a maximum total repayment of R6 190 including VAT. The rate on your own offer depends on your assessment, so compare the pre-agreement quotation you receive before you sign.

Documents and Verification Required

At PEP, staff scan your ID and supporting documents on a FICA device and send them to Capfin. If you applied online instead, Capfin also accepts documents in these ways:

If Capfin already has your documents from an earlier loan, they may not be valid for a new application. Call Capfin on 087 354 0000 to check.

How to Apply and Improve Approval Readiness

Capfin says you can apply online, by SMS to 33005, or at any PEP or Ackermans store. At PEP, the store handles your application like this:

  1. Take your SA ID and your 3 latest payslips or 3 latest bank statements to any PEP store (use PEP’s store locator).
  2. The staff scan your documents and send your application to Capfin.
  3. Capfin contacts you to complete the application and the affordability assessment.
  4. Approve the DebiCheck mandate when your bank asks you to.
  5. If you are approved, the money is paid into your bank account within 48 business hours.

A PEP loans online application goes through the same process on Capfin’s website. Choose “Apply Now” at capfin.co.za, create a profile secured by your ID number and an OTP, complete the form and upload your documents. The requirements and the lender are the same whether you apply online or in store.

To improve your chances:

Frequently Asked Questions

Is a PEP loan the same as a Capfin loan?

Yes. PEP is a place where you can apply and submit documents. Capfin, which is also part of the Pepkor group, is the credit provider. It assesses the application, signs the agreement with you and collects the repayments.

Can I get a PEP loan if I am unemployed?

No. Capfin requires you to be permanently employed and earning a monthly salary. Grant income or informal earnings do not meet its published criteria.

Can I get a PEP loan with bad credit?

Possibly, but approval is not guaranteed. Capfin looks at your credit profile and payment behaviour, and a poor record usually means a decline or a smaller offer. You cannot take new credit while you are under debt review.

How long does a PEP loan application take?

Capfin says that once you are approved, it pays the money within 48 business hours. The payout is delayed until you approve the DebiCheck mandate with your bank.

Can I repay my Capfin loan at PEP?

Your instalment is collected by debit order. For extra or arranged payments, Capfin lists Pay@ payments at PEP, Ackermans and other Pay@ outlets, using the Pay@ reference number Capfin gives you. It also accepts bank deposits that use your loan account number or ID number as the reference.

How much can I borrow?

Up to R50 000, over 6 to 24 months. You only see the amount you qualify for after you apply and Capfin completes its affordability assessment.

My application was declined. When can I apply again?

Capfin says you can reapply after 30 calendar days. Use that time to ask for the reasons for the decline, check your credit report and bring any accounts in arrears up to date.

Loan amounts, fees, rates and criteria are set by Capfin and change from time to time. Confirm the current requirements on Capfin’s FAQ or by calling 087 354 0000. You can check that a lender is registered on the National Credit Regulator website.

See loan requirements and browse all finance and funding requirements.

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