| Capfin | African Bank | Wonga SA | DirectAxis | Nedbank | |
|---|---|---|---|---|---|
| Loan amount | R1,000–R50,000 | R2,000–R250,000 | R500–R8,000 | R5,000–R200,000 | R2,000–R300,000 |
| Term | 6–24 months | 7–72 months | 3–6 months | 2–72 months | 12–84 months |
| Interest rate | Up to 27.5% p.a. | From ~15% p.a. | Up to NCA cap | From ~17% p.a. | From ~12.5% p.a. |
| Loan type | Unsecured personal | Unsecured personal | Short-term | Unsecured personal | Unsecured personal |
| Application | Online + in-store | Online + branches | Online only | Online + phone | Online + branches |
| Payout | EFT | EFT | EFT | EFT | EFT |
| Repayment | Debit order | Debit order | Debit order | Debit order | Debit order |
| NCR registered | Yes (NCRCP6) | Yes | Yes | Yes | Yes |
| Good for | In-store access, medium loans | Larger amounts, longer terms | Small short-term needs | Large loans, income earners | Bank clients, larger loans |
Rates shown are indicative ranges for standard unsecured personal loans as of 2026-05-19. Actual rates depend on your credit profile and affordability. Always request a quote from the lender.
Capfin vs African Bank
African Bank is a fully licensed bank regulated by the SARB and the NCR. It can offer larger loan amounts (up to R250,000) and significantly longer terms (up to 72 months), making it more suitable for high-value purchases or debt consolidation. Interest rates at African Bank can be lower than Capfin's maximum rate for borrowers with strong credit profiles.
Choose Capfin if: You prefer in-store assistance at PEP, Ackermans, or Pick n Pay, and need a loan between R1,000 and R50,000. Choose African Bank if: You need more than R50,000, want a longer repayment period, or have a strong credit profile that qualifies you for a lower rate.
Capfin vs Wonga SA
Wonga SA focuses on short-term loans (R500–R8,000 over 3–6 months), making it fundamentally different from Capfin's medium-term product. Wonga is better suited for immediate small-amount needs, while Capfin is appropriate for planned larger purchases with a structured monthly repayment.
Choose Capfin if: You need more than R8,000 or want a repayment period longer than 6 months. Choose Wonga SA if: You need a small amount for a few months only and have the income to repay it quickly.
Capfin vs DirectAxis
DirectAxis specialises in larger loans for higher-income earners. Its online-only application is efficient, but it does not offer in-store assistance. Rates may be more competitive for qualifying applicants.
Choose Capfin if: You want in-store assistance or prefer the familiarity of a Pepkor retail environment. Choose DirectAxis if: You earn a high income, need more than R50,000, and are comfortable applying entirely online.
Capfin vs Nedbank Personal Loan
Nedbank personal loans are best suited for existing Nedbank customers, who benefit from pre-approval offers and preferential rates. The maximum loan amount (R300,000) and maximum term (84 months) are significantly greater than Capfin's offering.
Choose Capfin if: You are not an existing bank customer or prefer the store-based application process. Choose Nedbank if: You are a Nedbank client with a good credit history and need a large loan over a long term.
Our Verdict: Who Should Choose Capfin?
Capfin occupies a specific and valuable niche: accessible, medium-term personal lending through South Africa's largest retail store networks. It is not the cheapest option for borrowers with excellent credit, but it is one of the most accessible for the employed working and middle class who prefer face-to-face service.
According to Creditdeals.io's analysis, Capfin scores highest on accessibility and simplicity, making it a strong choice for first-time personal loan borrowers or those who find branch banking intimidating.
Frequently Asked Questions — Comparison
Is Capfin cheaper than African Bank? Not necessarily. African Bank may offer lower rates for borrowers with strong credit profiles. Capfin's rate approaches the NCA maximum, while African Bank's rates can be lower for well-qualified applicants. Always compare quotes directly.
Can I switch my Capfin loan to another lender? Yes, via refinancing — apply for a new loan with the preferred lender, use the funds to settle your Capfin loan early, and repay the new lender. Factor in Capfin's settlement fee when calculating whether refinancing makes financial sense.