Capitec Loan Without Payslip

With Capitec being the biggest bank in South Africa by customer numbers, it’s not really surprising that a lot of people are looking to apply for loans. We have previously written on the Capitec loan application requirements. One of the things that the bank needs is a payslip. It’s similar to what happens with any other bank. A payslip confirms that you are formally employed. Banks need it so they are able to recover their money on a monthly basis. But what if you are not formally employed? Can you apply for a Capitec loan without a Payslip?

Can I get a Capitec loan without a payslip?

Unfortunately, you cannot get a Capitec loan if you do not have a payslip. According to the bank, the payslip is need for calculating the loan amount that you will be able to afford. What it means is that if you are not formally employed, you will not be able to get a loan from Capitec bank.

It’s a major setback for small businesses

A while back, Capitec posted on X that it had come up with a facility to help small businesses get off the ground. That elicited the questions around the issue of payslips.

Most small business owners are not formally employed. It means they are not able to take advantage of the Capitec offer.

There were even people saying they were denied loans because they were on contract. Again, the issue rests on the bank deciding whether or not your will be able to repay the loan within the prescribed timeframe.

If you are temporarily employed for a year, they will not give you a two year loan. Banks demand payslips so they can protect themselves. They need to be able to recover their money, and that’s done through monthly deductions from your salary.

The good news is that there are some lenders out there who may be able to help you. However, that’s contingent on you being able to prove that you earn enough from your small business per month to offset the loan repayments.

You can do this by providing your bank statement. In some instances, you will be able to get a loan by putting up some of your assets as collateral. That may be your vehicle, or you home.


In this article, we focused on whether or not you will be able to get a Capitec loan without a payslip. It was noted that this is not something that you can do. Capitec offers loans only to people who are formally employed. The reason for this is that the bank needs to be able to know that the borrower has the capacity to repay the loan. In fact, the size of the loan is itself based on your monthly salary.

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