Capfin short-term loans review

Capfin offers short-term loans of £200-£500 to be paid back in 6 monthly instalments. Its loans are designed as an alternative to traditional payday loans paid in full on your next payday.

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A relative newcomer to the UK short-term loans market, Capfin launched in the UK in in 2017. Weirdly enough, it’s owned by furniture and household goods giant Steinhoff International Holdings, which also controls Bensons Beds, Harveys Furniture and Poundland.

With all its loans payable over six equal monthly instalments, Capfin does not offer the same flexibility as many of its competitors. However, with a fixed daily interest rate significantly lower than the maximum allowed by the Financial Conduct Authority (FCA), it aims to beat them on cost.

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warning icon Please note: high-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.

How do Capfin loans compare against the competition?

Table: promoted deals, sorted by total payable

If you’ve used the Capfin site to get a quote and want to see if you’re getting a good deal, find out how much a similar loan is likely to cost you from some other popular short-term lenders:

How much money do you need to borrow?

How long do you need to borrow over?

Name Product Available Amounts Monthly repayment Total payable
£50 to £800
Representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative 1,333% APR and total payable £386.61 in 6 monthly payments of £64.44.
£300 to £800
Representative example: Borrow £400 for 4 months at a rate of 255.5% p.a. (fixed). Representative APR 939.5% and total payable: £597.48 in 4 payments of £149.37.
£100 to £1,000
Representative example: Borrow £400 for 6 months at a rate of 229.95% p.a. (fixed). Representative APR 720% and total payable: £707.01 in 6 monthly payments of £117.83.
£50 to £1,000
Representative example: Borrow £250 for 74 days at a rate of 292% p.a. (fixed). Representative APR 1300.5% and total payable: £398.00, in 1 payment of £74.00 and 1 payment of £324.00.
£300 to £1,000
Representative example: Borrow £500 for 5 months at a rate of 292% p.a. (fixed). Representative APR 1,297% and total payable: £867.05 in 5 instalments of £173.41.
£100 to £1,000
Representative example: Borrow £480 for 9 months at a rate of 133.1% p.a. (fixed). Representative 535% APR and total payable £959.04 in 9 monthly payments of £106.56.
£100 to £2,500
Borrow £100 for 8 months at a rate of 204% p.a. (fixed). Representative APR 567% and total payable £199.33 in 8 monthly payments of £19.93. You can repay this loan early.
£250 to £1,000
Representative example: Borrow £500 for 6 weeks at a rate of 255.5% p.a. Representative APR 839.20% and total payable: £647 in 1 payment.

Compare up to 4 providers

Important information: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

We compare payday/short-term loans from

Lending Stream Instalment Loan
Moneyboat Short Term Loan
Peachy Loan
QuickQuid Short Term Loan
QuidMarket Short Term Loan
Satsuma Short Term Loan
Sunny Loan
The Money Platform Short Term Loan

Key features of a Capfin short-term loan

  • Loans of £200-£500. Choose an affordable loan amount to suit your needs.
  • Repay over 6 monthly instalments. All Capfin loans are payable in six equal instalments. Spreading the repayment over longer periods makes for more manageable monthly outgoings, but almost always costs significantly more overall.
  • Quick quote. Complete four simple steps on the application form and Capfin will provide you with a quick decision.
  • Fast payment. Following approval, Capfin aims to have the money in your bank account within 15 minutes.
  • High, fixed interest rates. While Capfin could prove to be cheaper than many of its competitors in this market, this is still realistically an expensive way to borrow money.
  • Early repayment. You can pay off your loan at any point at no extra charge. You will only be charged interest for the time you had the loan, so this could save you money.
  • No late payment fee. Capfin will not charge you a penalty if you are late with a repayment. However, you will accrue interest for the time you have the loan, so missing a payment would cost you money and may also harm your credit rating.

Capfin and your internet banking details

If you apply for alone with Capfin, you may be asked to provide login details for your internet banking. Capfin states that this is used to view up to 90 days of bank account history – verifying your incomings and outgoings and helping Capfin to make a decision on what would be affordable for your circumstances.

Capfin are not the only short-term lender to do this. You can read our guide to why some payday lenders ask for your internet banking logins.

If, despite Capfin’s reassurances of data encryption, you’re uncomfortable with this, it could be worth considering another payday/short-term loan provider.

How does it work?

Here’s a quick summary of the Capfin loan process:

  1. The simple online application form takes you from initial inquiry to final decision in four straightforward steps.
  2. Once you have submitted your personal, financial and employment details, Capfin will run checks and get back to you with a quick decision.
  3. Following approval you can sign the credit agreement, after which the money will normally be transferred to your bank account within 30 minutes (however some banks may take up to 24 hours).
  4. Like most short-term loan providers, Capfin then uses a Continuous Payment Authority (CPA) to collect the repayments from your bank account on your chosen dates.

What is a Continuous Payment Authority (CPA)?

With a CPA you give a company permission to withdraw money from your account on a regular basis.

CPA’s differ from a direct debit because they give the company being paid the ability to withdraw money from your account whenever they wish, and to take payments of different amounts without consulting you. Most payday loan companies will use a CPA to collect your repayments, however you can cancel this at any point by either consulting with the lender or your bank.


You do not necessarily need a good credit rating to be approved for a Capfin loan, and could even have a County Court Judgement (CCJ) against your name. Capfin will primarily want to make sure you can afford the repayments, so you’ll need to pass its thorough identity, credit and affordability checks. You should only apply for a Capfin loan if you are certain you can meet the repayment terms. You must also:

  • Be 18 or over
  • Be a UK resident
  • Have a UK bank account and debit card
  • Have a working mobile phone number

Additional Borrowing Options

Capfin does not permit extensions or rollovers on its loans. If you think you will have difficulty paying back your loan, it’s best to flag this as early as possible – you can call Capfin on 020 3887 6337.

Should I take out a short-term loan?

If you’re reading this guide, then chances are you’ve found yourself in financial difficulty of some kind. A short-term loan could offer a quick, temporary solution, but it’s a very expensive form of borrowing. Additionally, lenders themselves normally admit that their loans simply aren’t the answer for longer-term or regular borrowing, or for those with serious debt problems.

Before you apply for a short-term loan, take a moment to ask your self a few quick questions: Is the expenditure that you’re planning absolutely essential? Could it be deferred? Have you thought about alternatives to short-term loans? If you’re struggling to pay a bill, then try talking to your utility provider to work out a payment plan. There’s a wealth of useful information about managing debt and alternatives to short-term loans at the government’s

Frequently Asked Questions

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We exist to help you find better. The offers we've compared on this page are from a range of products whose details we can track; we don't cover every product on the market...yet. Unless we've indicated otherwise, products are shown in no particular order or ranking. The terms "best", "top", "cheap" (and variations of these) aren't product ratings, although we always explain what's great about a product when we highlight it; this is subject to our terms of use. When you make major financial decisions, it's wise to consider getting independent financial advice. Always consider your own financial circumstances when you compare products so you get what's right for you.

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