Disclaimer: EasyOnlineLoans.co.za is not a lender. We provide information only. All loans are provided by registered credit providers like Capfin (NCRCP 11886). Terms and rates apply.
What is PEP Loan?
PEP does not lend directly. They partner with Capfin, one of SA’s fastest-growing credit providers. You can apply in-store at any PEP or Ackermans nationwide, or online via SMS.
- Loan amount: R1,000 to R50,000
- Repayment: 6 to 24 months
- Interest: From 12.5% to 35.95% per annum (capped by NCA – repo 7.25% x 2.2 + 20%)
- Payout: Within 24 hours to FNB, Absa, Standard, Nedbank. 48 hours other banks
Requirements to Qualify
| Requirement | Details |
|---|---|
| South African ID | Green barcoded ID or Smart ID Card |
| Age | 18 years or older |
| Bank Account | Active SA bank account in your name |
| Proof of Income | Latest 3 months payslips / bank statements |
| Affordability | Must pass affordability assessment – No over-indebtedness |
How to Apply – 3 Ways
1. In-Store at PEP / Ackermans
Visit any PEP or Ackermans with your ID, 3 months bank statements and payslip. Staff will assist with application.
2. SMS
SMS your ID number to 33005 (Capfin). They will call you back.
3. Online
Apply on Capfin website – fill ID, income, bank details. Get decision same day.
Why PEP Loans are Trending?
According to Old Mutual Monitor 2026, 64% of working South Africans now have a personal loan (up from 54% in 2025). People prefer store-based loans because no data needed and approval is fast.
Tips to Increase Approval
- Check credit report first – clear small defaults
- Don’t apply at 5 lenders same week – hurts score
- Bring 3 months bank statements showing salary
- Make sure your expenses are not more than 70% of income
FAQ
How long does PEP loan take to pay?
If approved before 3pm, money is deposited within 24 hours to major banks, 48 hours to other banks.
Can I get PEP loan with bad credit?
Capfin checks credit. Low score reduces approval chance, but they consider affordability. Avoid mashonisa – interest can be illegal.
Source: Capfin, WeSearchSA PEP Loans Oct 2026. Last updated: October 2026.