Capfin

How to Repay Your Capfin Loan: Complete Guide

Capfin collects loan repayments exclusively via monthly debit order from the bank account you nominated during application. There is no option to pay by EFT, cash, or card independently — the debit order is the primary and mandatory repayment method.

How the Debit Order Works

When you sign your loan agreement, you authorise Capfin to deduct your monthly instalment from your bank account on a fixed date each month. This date is typically aligned with your salary deposit date to ensure funds are available.

• Collection date: Fixed monthly — usually aligned with your pay date
• Amount: Fixed monthly instalment as per your loan agreement
• Bank account: The account you nominated on your application

Ensure your bank account has sufficient funds on the debit order collection date each month to avoid failed payments and associated bank charges.

Online Repayment Management

While Capfin collects via debit order automatically, you can manage your loan through:

• Capfin online portal: capfin.co.za — view instalment history, outstanding balance, and settlement amounts
• Capfin mobile app: Available on Android and iOS — same functionality as the web portal
• Phone: Call 0860 667 878 for repayment queries

Early Settlement

You may settle your Capfin loan early at any time. Under the National Credit Act, Capfin may charge a settlement fee on early repayment, but this fee is capped by law.

How to settle early:

1. Log in to capfin.co.za or call 0860 667 878.
2. Request your settlement amount — this will include outstanding principal, any accrued interest, and the NCA-capped settlement fee.
3. Confirm the settlement figure and request a payment reference.
4. Once Capfin receives full settlement, the loan is closed and the debit order is cancelled.

Early settlement can reduce the total interest you pay, particularly if you settle during the first half of the loan term.

What Happens If You Miss a Payment

If a debit order is unsuccessful:

• Your bank may charge an unpaid debit order fee (typically R50–R200 depending on your bank).
• Capfin will attempt to collect the outstanding amount.
• Interest and fees may continue to accrue on the outstanding balance.
• Persistent non-payment will negatively affect your credit bureau record.
• Capfin may refer the account to a debt collection process in line with the NCA.

If you anticipate difficulty paying, contact Capfin immediately on 0860 667 878. Early communication gives Capfin the opportunity to discuss a repayment arrangement before the situation escalates.

Debt Counselling Rights

If you are over-indebted and unable to service your obligations, you have a legal right under Section 86 of the National Credit Act to apply for debt counselling. A registered debt counsellor can negotiate with all your credit providers on your behalf. Find a registered debt counsellor at ncr.org.za.

Repayment Best Practices

• Set a reminder a day before your debit order date to confirm funds are in your account.
• If you receive a bonus or tax refund, consider making additional payments or settling early to reduce total interest cost.
• Keep your bank account details up to date with Capfin — a change of bank account must be communicated well in advance of the next collection date.
• Never ignore missed payment notifications from Capfin. Contact them proactively.
• Monitor your loan balance regularly via the Capfin app or portal.

Frequently Asked Questions — Repayment

Can I change my debit order date? Contact Capfin on 0860 667 878 to discuss whether your debit order collection date can be adjusted. Changes are subject to Capfin's approval and your agreement terms.

What is the penalty for early repayment? Under the NCA, Capfin may charge a settlement fee, but this is legally capped. Request a formal settlement quote from Capfin to get the exact figure before paying.

What happens if I lose my job and can't repay? Contact Capfin immediately on 0860 667 878 or info@capfin.co.za. You may also have credit life insurance cover that was included in your loan — check your agreement. As a last resort, consider applying for debt counselling via the NCR.

Does Capfin allow loan extension or deferral? Options for payment deferral or loan restructuring are subject to Capfin's policies at the time of request and NCA compliance. Contact Capfin directly to discuss your options.