To check if you qualify for a Capfin loan, simply apply through one of Capfin’s easy-to-access channels. Upon application, you’ll receive a loan offer page that outlines a provisional loan amount you may qualify for. Keep in mind, however, that the final amount can vary once Capfin completes its standard credit checks.
Capfin Loan Qualification Requirements
Before applying, ensure you meet the following requirements for a Capfin loan:
- Age: Applicants must be at least 18 years old.
- Identification: A valid South African ID is required.
- Income Verification:
- Submit three recent payslips or bank statements.
- You must be permanently employed and have a regular monthly income.
- Bank Account: Applicants need an active bank account with a South African bank supported by Capfin.
- Credit Standing:
- You should not be over-indebted.
- You cannot be under administration, provisional sequestration, final sequestration, or debt review.
- Marriage Consent: If you’re married in community of property or by customary or tribal law, you’ll need written consent from your spouse.
How to Apply for a Capfin Loan
Capfin offers several convenient ways to apply:
- Online: Apply directly through the Capfin website.
- SMS: Send an SMS with instructions available on Capfin’s website.
- In-store: Visit any PEP or Ackermans store to apply in person.
Once approved, you can easily keep track of your loan through Capfin’s online services. Learn how to check your Capfin loan balance and statements online here.
For a smooth, hassle-free experience, consider beginning your Capfin loan application online here.
Approval Process
Once CAPFIN has processed your loan application, your bank will send a USSD notification, allowing you to accept or reject the offer. If you don’t receive the USSD notification, you can also confirm the debit order mandate through any of your preferred banking channels.