Choose what makes sense for your situation right now:

Capitec: for salaried and self-employed people

Borrow up to R500,000 and repay over 12 to 84 months. Capitec’s rate is personal to you, starting from 12.50% a year, and its own examples show a maximum APR of up to 48.27%.

If you work for yourself or earn from more than one source, Capitec has a separate route: you need to earn more than R5,000 a month for at least 6 months.

FNB: for people who want the same payment every month

Borrow up to R450,000 and repay over up to 72 months. For long-term loans, FNB’s page shows a fixed rate between 15.15% and 28.00% a year.

FNB says there is no penalty if you settle early, and eligible loans can have a payment break every January.

Standard Bank: for people who do not bank with it

Borrow from R1,000 up to R300,000 over 12 to 72 months. The rate is personal to you, up to prime plus 17.5% a year (28.25% at the current prime rate of 10.75%).

The bank says you can apply in its app or on Internet Banking even if you do not currently bank with it, and get a quote in minutes. Insurance is mandatory and not included in its calculator, so your real monthly payment will be higher.

Rules that apply to all three

• Interest is capped by law. For new contracts since 25 September 2026, the maximum is the repo rate (7.25%) plus 21 percentage points, which is 28.25% a year. FNB’s page still shows 28.00% as its maximum.
• Fees. The three banks list a once-off initiation fee of up to R1,207.50 and a monthly service fee of R69.
• Insurance. Credit life insurance is added to your monthly cost.
• Approval is never guaranteed. The bank decides after checking your credit record and what you can afford to repay.

FAQ

What is a personal loan?

Money you borrow from a bank and repay in fixed monthly amounts over a set period. The bank sets your interest rate after it checks your credit record and what you can afford to repay.

How much can I borrow?

It depends on the bank and on your profile. The maximums on the three pages are R500,000 (Capitec), R450,000 (FNB) and R300,000 (Standard Bank). The amount you are offered can be lower.

What is the most interest a bank can charge?

By law, the maximum for new personal loans is the repo rate plus 21 percentage points. Since 25 September 2026 the repo rate is 7.25%, so the maximum is 28.25% a year. Your rate can be lower, and it is set by the bank.

What fees come with a personal loan?

The three banks list a once-off initiation fee of up to R1,207.50 and a monthly service fee of R69. Credit life insurance is added on top, and its cost depends on how much you owe.

Is credit life insurance compulsory?

Capitec says it is required on its personal loans. FNB says it is mandatory on long-term loans, and you can cede your own suitable policy instead. Standard Bank says its loans have mandatory insurance.

Will I be approved?

No bank can promise that. Capitec and FNB both say the offer depends on your credit history, income and expenses. Apply only through the bank’s own app, website, phone line or branch.

I am self-employed. Can I apply?

Capitec has a separate route for self-employed people and people with more than one income. FNB lists self-employed people among those who can apply. Standard Bank’s loan page does not state its rules for self-employed applicants.

Do I need to bank with them already?

FNB says non-customers can apply with an ID, proof of residence and proof of income. Standard Bank says you can apply in its app or on Internet Banking even if you do not currently bank with it. Capitec’s page does not say whether you must be a customer.