How Can I Get a Quick and Easy Top Up Loan with Capfin?
Have you been granted a loan but that is not enough and you still need more money to make ends meet? If you are experiencing that situation, a Top up Loan can be really helpful to give you the financial support you need. There are certain credit providers that enable customers to be granted more amounts of money when needed.
Even though Capfin does not bring that possibility yet, there is another reliable company that does offer this option to their customers, Barclays. For that reason, in the next article I will expose all the necessary information about their possibility of Topping up your loan. Then, I will give you some recommendations related to your credit score, crucial in the application stage. Finally, you will be given contact data regarding this company in South Africa.
Barclays, enables customers to receive amounts of money whose maximum tends to be R 50 000, which can be financed by making monthly repayments for a period of five years, which of course is the maximum allowed. But, if the customer believes that period of time is not enough, he can ask for additional time and the bank will give them around 10 years to do it so.
Moreover, the customer can complete the closure of the loan whenever he is ready, without having to wait for the approval of the bank as it happens with other financial companies.
Now, let’s move on by focusing on the part that calls our attention:
Topping up your loan
This type of service consists in asking the banking company for additional financial resources. This can be done if you make use of mobile or online banking, through which the company grants you the funds without problems. But, you need to bear in mind that companies is quite strict when considering if you are eligible or not. Your approval will be based on your income and how the application procedure moves on.
As said before, if you want to top up your loan, you can use that money to buy new items, appliances, and a new car or make improvements to your summer house.
Now, if you would like to know how topping up works, you first need to be aware of the fact that the company will not increase the amount of your current loan, but instead you will be approved to be granted a second loan.
Let me exemplify how topping up works for customers:
-If the customer has been granted R 200000 but that amount is not enough and he wants to get let’s say R 15000 more, the company can give him a new loan for R 35000 by closing the first loan. So, that means a fresh start for customers and more money.
However, please take into consideration that there can be a small fluctuation between the interest rate of the loan you obtained at the beginning and the new one, so might experience an increase.
Now, let me give you some recommendations related to maintaining a perfect credit record, which translates as being found eligible and approved for the loan you want to obtain.
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-Make sure to comply with all the payments as agreed at the beginning of the loan, so that the credit provider has knowledge about how responsible you are when it comes to repayments and financing periods. That shows you are serious and responsible
-Make sure that all your personal data is written in the electoral roll, so that the company can easily have access to your information and begin the procedure
-It is recommended that you get advice from agencies whose aim is to have complete knowledge about your credit record, so as for you to know if the facts are right or not.
-Before the application make sure to consolidate any debt you might have created in the past, as those facts are usually present in your credit record
-Make all the necessary payments related to your credit card.
Finally, see how vital it is to possess a good credit record in order to apply for a loan? This type of information is really crucial at the time of deciding whether you are legally eligible or not. The fact that you do not have due debts and that you make a good use of your finances, will show companies that you are the perfect applicant and that it is worth for them to grant you the loan.
If you are the kind of customer that really enjoys obtaining information in person, with patience and time, you can directly go to one of Barclays´ office, which is in Johannesburg. It is found inside the Barclays Tower West, and the exact address is 15 Troye Street. You can also call there by dialing up this number: 011 350 4000
You also have the chance of contacting the company by phone in order to begin an application or clarify a query, such number is: 0800 716 598. This number is available every day from 8 in the morning to 10:00 pm.
The company´s website is a useful tool that will enable you to begin an application directly from there and ask for more details regarding lending programs and insurances for your family. You also have the possibility of sending quick messages. This is a great tool to take into advantage if you want to get in touch with the company during a holiday, which is a day the company is closed.
To conclude, if you were looking for more money that you were granted with your first loan, that is totally possible when you resort to Barclays, one of the leading financial companies. You will be able to expand your loan and cover any type of need you are facing at the moment. Please get in touch with the company´s professionals and let them help you with your finances, you deserve to be happy!!
Questions and answers
How do you get a loan if your first loan is fully paid and you need a new one?
If you have fully paid your latest loan with Capfin and have no installments left to pay, then you can ask for a loan renewal. In general, you are not asked to provide all the documents and information that you were asked for the first loan. You can ask for renewal or if you can have a new, different loan.
I need to top up my loan
If you need to top up your loan, there are some companies that enable clients to carry this process out and some others that do not allow it. Capfin allows you to ask or apply for a loan for a maximum of twenty four months, but it does not offer clients the possibility to top up their loans.
Hi I have a capfin loan that I’m still paying and I need a r2000 top up. Is it possible to get it?
Yes, it is possible that Capfin accepts lending you more money but, there are certain conditions to take into account. The bank will examine your financial state to confirm you can pay that top up loan you’re asking. Apart from that, how far have you gone paying your existing loan will also be crucial for Capfin to determine your new loan amount. All in all, you have to submit your application information again to have your response.
I need R5000, is it possible to obtain it?
Hi, yes, the company has a maximum of R 50 000 to offer its clients. You first need to gather the financial documentation stated in the article and then contacting the company to proceed with the application right away. The amount you are asking is a minimum that can be obtainable with no problem.
What is the lowest interest rate available?
It will depend on the loan you have chosen
I’m a member of Capfin. I don't have arrears. How much can I get for a personal loan?
Capfin’s quote starts at just a thousand rands and, finishes at fifty thousand rands. Depending on the amount of money you ask for, will be the repayment period available. If you request up to 8 thousands rands, you must pay the service in 6 months or less. If the amount you borrow is higher, the period expands up to 12 months. There may be special cases in which you may be allowed to have a 2-years payment period.
Capfin borrowed me R 5000 but its not enough. Im asking a top up, can i apply for it?
You can have access at Capfin to a loan of another amount which will mean closing the R 5000 loan you have and asking for a new one
Self employed can apply for the loan?
Capfin enables clients to apply for loans even though they are self-employed as long as they have the latest bank transactions and a guarantee of the loan
I want to top up my loan, how can I do that?
If you have a loan with Capfin, you can’t top up the loan. This entity only grants short term loans with fixed terms. You can try, if you have excellent credit score for instance, to apply for another loan the amount you need. In this case, you must study in detail the cost of each loan and be completely sure you can handle both loan payments avoiding getting in debt.
Hi. I have a 6-month loan with Capfin, can I extend the period to 24 months for R 30000? I really need it to fix my car to get back on the road. Thanks
If you are asking to add money to your loan, I must say that’s not possible with Capfin. You will have to concentrate on repaying what you already got in the first place. Now, if you need to extend the repayment period due to problems with the cancelation of the installments, you need to get in contact with Capfin’s assistance to try to get to an agreement.
Is the company open on Sundays?
No it is not
Hi. I’ve been working for a security company for 3 years, and I also work independently. Can I qualify for a loan?
To start, you comply with the requirements as regards your income as, Capfin demands their clients to have a steady job for at least three months before asking for the money. Guessing that you’re also from South Africa and meet the rest of the requirements, Capitec will pay attention to, the score of your credit to state if you qualify or not. You will be notified about this when you go through the loan application.
I would like to take a loan of r3000, how much would I have to pay monthly?
As you sure know, Capfin only allows to repay that amount over 6 payments. When you borrow R 6000 at Capfin, each instalment to pay is of R 733.48, leaving a total of R 4400.89 to pay for the loan. Of course, this is only an approximate cost as, the final rate and fees are established when you process the application.
How much will I pay for a r2500 loan? if I pay it over 2 years, would it be R300 per month?
Capfin’s loans work in a different way. This company has some fixed terms already stated. For a loan amount less than R 8000, you should cancel it in a maximum period of six months. So, you won’t be capable of extending that debt over 24 months. If you take R 2500 to cancel in six months, the payments would be around R 625.07 each month. Only if your quote is higher than R 8000, Capfin may allow you to repay it in 2 years.
After I pay one or two installments at Capfin, Can I ask to add some money to my loan?
This lending company isn’t known for offering top-up loans, as their main products are short term loans. Either way, with companies that do grant this service of adding money to the existing loan, paying only a couple of instalment won’t be sufficient to be approved for a top-up loan. The company will first make sure you show a responsible payment behavior before accepting increasing the amount.
I have an existing loan. I want to increase it, Is it possible?
As we have explained in the article, Capfin doesn’t increase loans already granted. That’s why it’s important to calculate how much money it’s needed before closing the deal. All you can do is to focus on finishing paying the instalments left of your loan. After that, you will have the chance of thinking about a new loan, if you really need more money.
I would like to top up my current Capfin loan, what do I have to do?
Unluckily, Capfin’s clients don’t have that service available. Once you apply for a certain amount and, that amount is approved and granted, there’s no chance of increasing it. You will have to finish paying and then, as long as you qualify, you may ask for a second loan. I must remind you that sometimes you have to wait 1 or even 2 years before taking up another loan.
I need R35000, can Capfin help me?
Yes, if you are South African and work, you can fill in the application form and submit the documents to help Capfin assets on your affordability. When you’re approved, you will receive the funds in less than 2 business days after the confirmation of the request. Provided that you qualify for the amount, you may get up to R 50000.
Can I get a loan if I still have one with Capfin?
The chances of having a second loan approved is not high if you haven’t finished paying for the previous one. What’s more, when canceling the loan, some banks require their clients to go over a free of loans period before granting them another one. It’s always a better alternative to cancel the current loan before borrowing more money.
Can I pay online?
Yes, you are allowed to do that
I’m a member of Capfin and I want to top up my personal loan to clear all my accounts so that I can only pay Capfin the personal loan only need 50000
It’s not possible to add up amount to your Capfin loan. However, you can take advantage by consolidating your debts into just one. If you decide to take this kind of loan, the bank will lend you money to pay off all your debts and then, you’ll just have to worry about repaying only one debt
Hi. Capfin offered me a loan of which i decided to take less of what was offered. Now i realise the mistake of that and want to top up my loan or top it up in such a way that the existing one closes and that i just get the difference so as to one loan installment. Can i do that?
Is it possible for me to increase my loan at capfin? And how can i do it?
I want to get more loans on my existing loan with capfin
I have a loan at capfin but i need capfin to assist me on getting more loan and extend my balance as need to for my son education
Hi there, can i apply for a top up lian from capfin, im in financial situation. Regards mariette grobler
I currently have loan with capfin and paying it monthly. I would like to top it up, is it possible?
Hi i just applied for a loan of 2000 nw and they said they will let me know when they have i would like to know how is that possible
I have tried online banking with Barclays
The free line works really well
I bought a new car with that loan