Quick Comparison

• Capfin: Up to R50,000 loans for anyone with income
• Kaelo Money: Up to R15,000 only for employees whose company offers it
• Both are registered with the National Credit Regulator
• Both offer online applications and quick payouts

Quick Answer: Which Should You Choose?

Choose Capfin if:

• You need more than R15,000
• Your employer does not offer Kaelo Money
• You want longer repayment terms (6 to 24 months)
• You prefer applying at PEP or Ackermans stores

Choose Kaelo Money if:

• Your employer offers it as a benefit
• You need R15,000 or less
• You want to access earned salary early (no interest)
• You want financial wellness coaching included
• You prefer lower interest rates (18% vs Capfin’s up to 28%)

What is Capfin?

Capfin is one of South Africa’s largest personal loan providers. They started in 2010 and are now part of the Pepkor group. Capfin offers unsecured personal loans to South Africans who need quick cash.

Key facts about Capfin:

• Registered credit provider (NCRCP11812)
• Part of Pepkor, a company listed on the JSE
• Available at over 2,500 PEP stores and 1,000 Ackermans stores
• Anyone with a salary can apply
• Operating since 2010 with over 1,000 employees

What is Kaelo Money?

Kaelo Money is a financial wellness platform run by VumaMoola. It’s only available to employees whose companies offer Kaelo Lifestyle benefits. This means you cannot apply unless your employer has signed up.

Key facts about Kaelo Money:

• Registered credit provider (NCRCP10398)
• Only for employees whose employer offers it
• Offers “Earned Wage Access” (get paid salary early with no interest)
• Includes free financial coaching and legal advice
• Part of the AskNelson platform
• Operated by VumaMoola (Pty) Ltd in Johannesburg

Side-by-Side Comparison

Loan Amounts and Repayment Terms

Capfin Loan Amounts:

• Minimum: R500
• Maximum: R50,000
• What you get depends on: Your income, expenses, and credit score
• Repayment options: 6 months, 12 months, or 24 months

Kaelo Money Loan Amounts:

• Minimum: R1,000
• Maximum: R15,000 or 45% of your monthly salary (whichever is lower)
• Emergency Wallet: Pre-approved amount between R1,000 and R1,500
• Repayment: Up to 3 months only
• Earned Wage Access: Get up to 45% of already earned salary with no interest (not a loan)

Interest Rates and Fees Comparison

Capfin Costs (as of October 2025):

• Interest rate: 18% to 28% per year (depends on your credit score)
• Monthly service fee: R69 per month
• Initiation fee: Up to R650 (one-time fee)
• Credit life insurance: Included in monthly payment

Example from Capfin website (October 2025):

If you borrow R5,000 over 12 months at 28% interest, with R650 initiation fee and R69 monthly service fee, your monthly payment would be around R2,166. Total repayment: R7,166 (you pay back R2,166 more than you borrowed).

Kaelo Money Costs (as of October 2025):

• Interest rate: 18% per year (fixed – lower than Capfin)
• Monthly service fee: Varies by employer settings
• Initiation fee: Included in overall fees
• Earned Wage Access fee: Small fee (reduced if you earn rewards points)
• Daily interest: Interest charged daily on emergency wallet loans

Who Can Apply?

Capfin Requirements:

• South African citizen or permanent resident with valid ID
• 18 years or older
• Employed and earning a regular salary
• South African bank account in your name
• Active cellphone number registered in your name
• Pass affordability and credit checks

Documents needed for Capfin:

• Valid South African ID
• Latest 3 months’ bank statements OR latest payslips
• Proof of residence (if requested)
• Consent form (they will provide it)

Kaelo Money Requirements:

• Most important: Your employer must offer Kaelo Lifestyle benefits
• South African citizen with valid ID
• 18 years or older
• Active cellphone number
• South African bank account
• Latest 3 months’ bank statements
• Proof of employment with a Kaelo partner company
• Access to online banking for verification

How to Apply

Applying for Capfin (3 ways):

Option 1: Online at www.capfin.co.za

1. Use the loan calculator to choose your amount
2. Click “Apply Now”
3. Fill in your personal details
4. Upload your documents
5. Wait for approval SMS (usually same day)
6. Money paid into your bank within 48 hours

Option 2: SMS Application

1. SMS your SA ID number to 33005
2. Wait for reply with instructions
3. A consultant will call you to complete the application

Option 3: At PEP or Ackermans stores

1. Visit any PEP or Ackermans store
2. Give your ID and payslips to the cashier
3. They will scan your documents
4. Capfin gets your bank statements directly from the bank
5. Get approval SMS (often before you leave the store)

Applying for Kaelo Money:

1. Check with your HR if your company offers Kaelo Money
2. If yes, register on the Kaelo Money platform
3. Upload your ID and proof of address
4. Complete verification through online banking
5. Get pre-approved for Emergency Wallet amount
6. When you need money, request it through the platform
7. Money paid out within 1 hour (often faster than Capfin)

Pros and Cons of Each Lender

What Do Customers Say?

Capfin Customer Reviews (as of 2025):

• Google Reviews: 2.6 out of 5 stars (very mixed reviews)
• HelloPeter: 1.5 out of 5 stars (many complaints)
• Overall average: About 2 out of 5 stars

Common complaints about Capfin:

• Debit orders taken earlier than agreed date
• Poor customer service response times
• Difficulty getting settlement quotes
• Bank fees charged when Capfin debits too early
• Hard to reach call centre

Positive feedback about Capfin:

• Quick approval process
• Easy to apply at stores
• Helpful staff at PEP and Ackermans
• Good self-service online account management

Kaelo Money Customer Reviews (as of 2025):

• Overall: Much better reviews than Capfin
• HelloPeter: Multiple 5-star reviews
• Employer testimonials: Very positive feedback

Positive feedback about Kaelo Money:

• Excellent customer service (consultant Jaleel Hassim praised by name)
• Very fast payouts (within an hour)
• Simple, easy-to-use platform
• Helpful financial wellness coaching
• Good support from the Kaelo Money team
• Employers report happy employees

Limited negative feedback:

• Main complaint: Only available if employer offers it
• Some users wish for higher loan amounts

🚨 Important Warnings for Both Lenders

Watch Out When Using Capfin:

• Early debit orders: Many customers complain Capfin takes money before the agreed date. This can cause bank fees.
• Make sure your debit order date is AFTER your salary date – ask Capfin to confirm this in writing
• Customer service delays: Some users wait weeks for responses. Keep records of all communication.
• Use the online calculator carefully: Make sure you can afford the monthly payment before applying
• R69 monthly fee adds up: Over 12 months, that’s R828 extra on top of interest

Watch Out When Using Kaelo Money:

• Short repayment term: You must pay back within 3 months. This means higher monthly payments.
• Salary limit: You can only borrow up to 45% of your monthly salary
• Daily interest: Interest charged every day, so pay off as soon as possible
• Don’t overuse Earned Wage Access: Getting paid early too often can create a debt cycle

General Loan Warnings:

• Only borrow what you can afford to pay back
• Missing payments damages your credit score
• Late payment fees are expensive
• Both lenders do credit checks
• Both report missed payments to credit bureaus
• Read ALL terms and conditions before signing
• Keep copies of all loan documents

Real Cost Examples (October 2025)

Example 1: R5,000 Loan for 12 Months

*Kaelo Money doesn’t offer 12-month loans. Maximum term is 3 months.

Example 2: R5,000 Loan for 3 Months

Contact Information

Capfin Contact Details:

• Phone: 087 354 0000 (Monday-Friday 8am-6pm, Saturday-Sunday 8am-1pm)
• Website: www.capfin.co.za
• SMS: Send ID number to 33005
• USSD: *134*6454# (self-service, no charge)
• Apply in store: Any PEP or Ackermans nationwide
• NCR registration: NCRCP11812

Kaelo Money Contact Details:

• Website: www.kaelo.co.za/kaelo-money
• Platform: kaelomoney.co.za
• Physical address: 2nd Floor, The Oval, Wanderers Office Park, 52 Corlett Drive, Illovo, Johannesburg
• Company: VumaMoola (Pty) Ltd
• NCR registration: NCRCP10398
• FSP license: FSP53867

If You Have Problems:

• Banking Ombudsman: 0860 800 900
• National Credit Regulator: 0860 627 627
• FSCA (Financial Sector Conduct Authority): 0800 110 443
• National Consumer Commission: 0860 003 600

Choose Kaelo Money if you can:

If your employer offers Kaelo Money, it’s the better choice. You’ll pay less interest (18% vs up to 28%), get money faster (1 hour vs 48 hours), and receive free financial coaching. The only downsides are the lower maximum loan amount (R15,000) and shorter repayment term (3 months).

Choose Capfin if:

If your employer doesn’t offer Kaelo Money, Capfin is a good alternative. It’s available to anyone with income, offers much higher loan amounts (up to R50,000), and has longer repayment terms (up to 24 months) that make monthly payments more affordable. However, you’ll pay more in interest and fees.

Important reminder:

Both lenders are registered and legal. However, all loans cost money. Only borrow what you truly need and can afford to pay back. Missing payments damages your credit score and costs extra fees. Before applying to either lender, make sure the monthly payment fits comfortably in your budget.