How to Apply for a PEP Loan in South Africa

A PEP loan is a personal loan powered by Capfin and available at any PEP or Ackermans store across South Africa. You need a valid South African ID, your latest 3 months of bank statements, and a working phone number. You can apply online at capfin.co.za, in-store at PEP or Ackermans, or by dialling *120*5566#. If approved, money is paid directly into your bank account within hours or a few business days.

PEP itself does not lend money. It partners with Capfin, a registered financial services provider. PEP and Ackermans both fall under the Pepkor group, so the loan process is identical at either store.

1. What Is a PEP Loan

A PEP loan is a personal loan you can get through any PEP store or Ackermans store in South Africa. PEP does not lend money itself. Instead, it works with a registered financial company called Capfin. Capfin handles all the money and the paperwork. PEP simply helps you start the process in-store.

Both PEP and Ackermans fall under the Pepkor group. So the loan process is exactly the same at both stores. You do not need to visit a bank. You just walk into your nearest PEP or Ackermans and the staff will guide you.

This loan is suitable for short-term personal needs. It covers school fees, paying off another debt, household emergencies, or buying essentials between paydays.

2. PEP Loan Requirements

The PEP loan requirements are straightforward. You need just three things, and if you have all three, you can apply right away.

Requirement 1: Valid South African ID

You must have a valid 13-digit South African ID. This proves your identity and confirms that you are legally allowed to borrow in South Africa.

Requirement 2: Bank Statements or Payslips

You need your latest 3 months of bank statements. Or you can bring your last 3 payslips. These show Capfin that money comes in regularly and that you can repay the loan.

Requirement 3: A Working Phone Number

You need an active South African phone number. Capfin will call or message you about your application. So keep your phone nearby after you apply.

3. How to Apply for a PEP Loan Online

Yes, PEP loan online applications are possible. You can apply from home without visiting any store. It is simple and takes only a few minutes.

• 1

  Visit capfin.co.za

  Go to the official Capfin website on your phone or computer. This is the starting point for all online applications.

• 2

  Fill In Your Personal Details

  Enter your name, ID number, and contact information. Be honest and accurate. Wrong details will delay your application.

• 3

  Upload Your Documents

  Upload a clear photo or scan of your South African ID and your 3 months of bank statements. Make sure everything is readable.

• 4

  Submit and Wait

  Click submit. Capfin will review everything. They will then call or message you with their decision.

4. How to Apply In-Store at PEP or Ackermans

The PEP loan application in-store is the most common method. Many South Africans prefer it because store staff help you every step of the way.

• 1

  Gather Your Documents at Home

  Pack your ID, your 3 latest bank statements, and your payslips if you have them. Do this before you leave home so you do not forget anything.

• 2

  Go to Your Nearest PEP or Ackermans Store

  Visit any PEP or Ackermans store near you. There are hundreds of stores across South Africa, so one is never too far away.

• 3

  Hand Over Your Documents

  A staff member will take your documents. They will scan them and give you a receipt. Keep that receipt carefully.

• 4

  Capfin Reviews and Contacts You

  The store sends your documents to Capfin. Capfin then reviews your file and will call or message you with the outcome.

5. How to Apply Through Capfin Directly

You can also reach Capfin directly, without going to a store. There are two easy ways.

Option A: Capfin Website

Go to capfin.co.za and complete the online application form. It works the same as applying through the PEP website.

Option B: USSD Code

Dial *120*5566# on your phone. Follow the steps shown on your screen. This is very useful if you have no internet access at home.

6. PEP Loans for Unemployed People

PEP loans for unemployed people are possible. You do not need a formal job to apply. But you do need to show that some money comes into your bank account.

Capfin needs to know you can repay. So they look at your bank statement. Even if you are unemployed, your statement may show income from a side job, a family member, rental income, or informal work.

If you have never worked and your bank statement shows no transactions, you can still apply. But your chances of approval are lower. And Capfin may offer a smaller loan amount.

What If You Have No Payslip?

You do not need a payslip. A bank statement alone is enough. If you had a job before, old payslips also help. They show that you once had a regular income and know how to manage it.

7. PEP Loans for SASSA Beneficiaries

Many people search for PEP loans for SASSA recipients and wonder if their grant counts as income. The honest answer is that it depends on which grant you receive.

Capfin looks at your bank statement to see regular deposits. If your SASSA Old Age grant or SASSA Disability grant shows consistently in your statement, Capfin may consider it as income. These grants are larger and more stable, so they work better for loan applications.

The SRD R370 grant alone is usually not enough for Capfin to approve a loan. It is too small to prove reliable repayment ability.

8. PEP Loans for Blacklisted Applicants

PEP loans for blacklisted individuals are harder to get but not impossible. Being blacklisted means your credit record has problems. And Capfin does check your credit history during the application.

But a strong and consistent bank statement can sometimes help offset a poor credit record. The key is to show that money still comes in regularly. And that you are managing your account responsibly right now.

9. PEP Loans for Pensioners

PEP loans for pensioners are available and often easier to qualify for. This is because pensioners receive a steady monthly payment, and that payment shows up clearly and consistently in a bank statement.

Whether your pension comes from a private fund or from the government, it reflects as regular income. Capfin sees this positively. So pensioners generally have a good chance of approval.

You still need to meet all the basic requirements. Bring your ID and 3 months of bank statements that show your pension deposits. Then apply online or in-store at your nearest PEP or Ackermans.

10. Maximum Loan Amount and Repayment

The maximum loan amount through Capfin at PEP is R50 000. But this is not available to everyone. Capfin decides your loan amount based on what your bank statement shows and what you can comfortably afford to repay.

Most unemployed applicants or SASSA recipients will qualify for a smaller amount. The repayment period is between 6 months and 12 months. Capfin breaks this into monthly installments that match your income level.

11. How Long Does Approval Take

Capfin loan approval time depends on your documents. If your bank statement is clean and shows regular income, approval can happen within a few hours. In some cases, it may take up to 3 working days.

If you are a returning Capfin customer with a good repayment history, your approval can come through in minutes. So repaying on time always pays off in the future.

12. Frequently Asked Questions

Sources and References

• →Capfin Official Website. capfin.co.za. Accessed May 2026.
• →PEP Stores Official Website. pepstores.com. Accessed May 2026.
• →Ackermans Official Website. ackermans.co.za. Accessed May 2026.
• →National Credit Regulator (NCR) South Africa. Responsible Lending Guidelines.