Can I get a Personal loan at Capitec Bank? Fast Calculator
We all need financial help in some points of our lives. If it weren’t for this service, many of us wouldn’t be able to own a house, or a car, or pursue our dreams. This is true everywhere in the world, and it is, of course, true in South Africa. Luckily, there are important and trustworthy companies that provide financial services in our country. Here we will discuss the loans offered by Capitec Bank: we will walk you through the different loan options, the application procedure, waiting times, contact numbers, and more. Our goal is for you to get all the info you need to make a smart decisions when it comes to taking out a loan.
What are the Types of Loans Offered by Capitec Bank?
Not all loans suit everybody, that’s why Capitec Bank has designed a great array of loan possibilities. In this article we will go over some of them and tell you all you need to know in the event you want to apply for them. We’ll talk about personal loans, business loans, and credit facilities. Keep reading and don’t forget to leave us a comment or ask questions below if you have doubts.
Does Capitec Bank Give Personal Loans?
Capitec Bank is a retail bank of South Africa that offers numerous financial services, such as loans, insurance, transactions, and other services (like insurance, transactions, and saving programs). If you need cash to make an important sale, refurnish your home, or taking a vacation, you might consider Capitec Bank personal loan.
In this bank you can borrow up to R250000 with a personal loan and the lowest interest rate starts at 12.9%. However, the amount of money and the interest rate you can qualify for is strictly based on your income and your credit profile. The higher your salary, the more money you will be able to borrow. Conversely, the healthier your credit history, the lower interest rate the bank might be able to provide you.
This might be hard to visualize. You might ask yourself, how do I get to know the number of installments I’ll have to pay? Or what interest rate will I probably get? If you ask yourself these questions, you are ready to use our loan calculator. There you will have to enter the amount you need to borrow and the number of months in which you think you’ll be able to pay it back. Our calculator will show you a great number of options from different banks. This is great because you will be able to compare the approximate interest rates these different companies offer.
How do I Apply for a Capitec Loan Online?
One of the miracles of the 21st Century has to be being able to do things online. Who doesn’t love this? We live in hectic times, and having to make lines can be a waste of time for us. It may even cause us trouble at work! This is not only good for customers, banks also benefit from offering online platforms where their clients can operate on. In this way, their branches are not crowded with people at all hours.
Capitec Bank is no different. They do have an online platform where you can start applying for your loan. You only have to fill in the application with your personal and financial information. Also, they have a cellphone application that you can download to your phone to start applying for your loan. The app is available bot for Android and IOS devices.
What Documents do I need to Apply for a Loan at Capitec Bank?
In order to qualify for a Capitec Bank loan you need to be a South African resident, over 18 years of age, and have a steady job. This is standard in almost all lending companies. When you take out a loan under your name, you are responsible (and liable) for it: the bank needs to make sure you know this.
Capitec Bank needs certain information to make you an offer, that is, how much money they will be able to lend you, in what term period and with which interest rate. Also, they need this info to verify that you will be able to repay the loan. For this, they need these documents:
The last pay stub
A bank statement of an account under your name where you’ve been deposited your last 3 salaries
Can I Increase my Capitec Loan?
Once your application process is completed, and you got a quote from the bank stating the amount of money you can borrow, you cannot increase the amount of the loan. For this reason, it might be a good idea to carefully consider if the amount you’ve been quoted will help to cover your expenses before you accept the loan.
Can I Consolidate Loans with Capitec Bank?
Owing money to different creditors may not be a safe financial behavior for you. Think it this way: you have different people to pay to, different due dates, and different interest rates. It can turn into a major headache.
Even though this is not a safe behavior and it’s not advisable, many people end up in this situation. Why? Simply because sometimes there are no other options available. They need to ask for financing. That repair on your wall cannot wait, right?
If this is your case, you might want to consider Capitec Bank consolidation. This company lets you consolidate your loans by taking a loan of up to R250000 over a time period of 84 months. With this loan you will be able to pay off your other loans, and you will be left with only one loan. This loan will be easier to pay since you only have to worry about paying to only one creditor. This will probably give you greater peace of mind.
Does Capitec Have ATM Loans?
Capitec Bank does not offer ATM loans as such, but they have a similar tool that you might take advantage of. If you are coping with an emergency and need money you can consider taking out a credit facility with Capitec Bank.
With this instrument you can get up to R5000 within some minutes. The money will be available at once and you will be able to start operating from your online banking or cash the money at an ATM or tills in supermarkets. This loan is payable each month.
The maximum amount of money you can borrow will depend on your credit history and salary. There are rates and fees to this loan, though. There is a fee for initiating the service and then you will have to pay a monthly fee of R35 if you don’t have an outstanding balance and of R69 if you do. The bank will review your situation every 9 months to see if you’re fit to continue asking for this credit facility.
How to Apply for a Home Loan at Capitec Bank?
Who hasn’t dreamt about owning a house? Renting is money you spend each month that goes to someone else’s pocket. With Capitec Bank that dream might become a reality. This company gives home loans for people between 18 and 60 years old.
With Capitec Bank you can borrow up to R5 million and have a repayment period of up to 240 months. After you apply for the loan and send out all the documents required, if accepted, your loan will be approved within 5 business days.
You don’t need to be a customer of Capitec Bank to apply for this loan. To start the process you can either apply online or at a Capitec Bank branch. If you apply online, you might be able to finance the total amount of the value of the house, whereas if you apply at a branch you may be able to finance a 90% of this value. Some government employees might qualify for special deals for home loans with Capitec Bank.
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To request a home loan with this company you will need the following documents:
Photocopy of the purchase offer, which has to be signed
Photocopy of marriage certificate
Pay slips for three months
Three bank statements, which must be stamped
Does Capitec Offer Vehicle Finance?
There’s no doubt that owning a car gives you great independence. You can get wherever you want while you’re able to manage your own time. You don’t have to rush to get the bus or travelling long journeys in a crowded space: it’s more comfortable.
However, when you don’t have the money to buy a car, you need financing. It’s important that you study your situation in depth before you apply for a loan. You need to consider, for instance, what kind of car you need and can afford, if you should get a short-term or a long-term loan. Remember, the longer the term in which you pay the loan, the higher the interest rate.
Once you thought through these issues you are ready to ask for a loan. Capitec offers the possibility of buying a car through their personal loans. Remember that you can borrow up to R250000. With these tips in mind you’ll be able to safely borrow money to buy the car you need.
Does Capitec Offer Temporary Loans?
The difference between a long-term and a short-term loan is the amount of months in which you can repay it. A short-term loan can be repaid up to 24 months. The advantage of these loans is that have lower interest rates. Capitec offers short-term loans and you can request them online. The amount you will be able to borrow will depend on your salary and affordability records.
There are two ways in which you can repay your loan. You can either pay the minimum or pay the full balance. Consider that when you pay the minimum (at least 5% of the outstanding amount), your loan accumulates interests. That is, you will pay more money in the end.
How does Multi-Loan Work at Capitec Bank?
Capitec Bank does no longer offer the multi-loan facility. This was a credit loan that allowed you to borrow small amounts of money and to borrow again once you have cancelled it.
Although this loan is no longer available, there are other options. Above we’ve discussed the credit facility, which allows you to access to immediate financing, for instance. Also, you can consider applying for a personal loan and only ask for the amount you need. Once you repay your loan you might be able to apply for a new one.
Does Capitec Bank Give Loans to Pensioners or Students?
Capitec has not designed a credit line specifically for pensioners or students. But that doesn’t mean student or pensioners cannot receive financing from lending companies. One of the requirements for borrowing money from Capitec is being able to prove that you have a regular income. So, if you are a pensioner you can qualify for a credit facility or a personal loan. If you are a student with a steady job, you might be able to request a home loan, as well.
Can I Take a Capitec Loan Without Pay Slip?
All lending companies need to have certain guarantee that you will pay back your loan. Thus, they request certain documents and make an investigation on your credit history and assess your affordability. The only case in which Capitec Bank may allow you to take out a loan without Pay Slips is if you own a business, for instance. If your business is duly registered as a company (Incorporated, Close Corporation, Trust) in South Africa, you will be able to prove Capitec that you are capable of paying through your bank and you will be able to take out a business loan.
Are there Payday Loans at Capitec Bank?
With a payday loan you can get access to cash and then repay it when your salary is deposited into your account. This is really useful when you have emergencies. For instance, it’s the last week of the month, you’re short of cash and your car breaks down. You need to fix it because you work with your car, but how do you pay for it if your payday is not till one week later? In this case, you can solve that problem with a payday loan.
At Capitec there’s a similar loan: the credit facility. You can borrow money immediately, solve your problems, and pay back for it the following month.
Can I take out a Loan if Unemployed at Capitec?
When you are unemployed, it is really hard to get financing from reputable financing companies. These companies need to have your income as security. If you are unemployed, don’t own a company, or you have no means to prove that you have a regular income you cannot request loans with Capitec.
Perhaps if you are currently unemployed and know that this situation won’t last long, you can ask someone you trust to take out the loan on your behalf.
Can I have a Payment Break in my Capitec Loan?
Some months are tougher than others, and sometimes you just can’t make ends meet. No shame in that. We’ve all been there. With Capitec you can’t take a payment break but you can easily reschedule your loan. You can extend the time in which you repay the loan. The amounts of the installments will be lower (more manageable), but you will have more installments. And even though you pay lower installments, the amount of the outstanding balance will be higher since interests apply.
How long does Capitec Take to Approve a Loan?
Capitec prides itself of providing simple, easy-to access and fast services. So, they work hard to get everything going in a timely manner. On the other hand, after you provide all the documents, Capitec has to check that you are able to pay them back. For this, they’ll perform credit checks on you and study your affordability. This might take up a week. Once this is done, the money will be immediately transferred to your bank account.
What is the Contact Number for Capitec Loan?
You can access to all Capitec services online. Also, this company has a banking application downloadable to your phone, from where you can operate. With this app you can even apply for personal loans and credit facilities, you can check your outstanding balance, and more. But, if you don’t like using apps or the computer, you can also contact Capitec Bank over the phone. You can contact them on 0860667789.
Getting finance in South Africa has become more easily thanks to Capitec Bank. This retail bank has been operating in our country for over 18 years with the premise of accessible and simple finance services. Here we’ve described the types of loans they offer, how to apply for them, and what is needed to qualify. If you’d like, you can comment on the comment section if you know the services provided by Capitec, or you can make any question you might have.
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Questions and answers
Can me and my partner jointly apply for a personal loan?
Capitec offers personal loans to individuals and ask them to provide identification papers and proof of regular income. You will not be able to ask for a joint personal loan at Capitec. Perhaps you are confused, since joint loans are available when we are talking about home loans. But this does not apply for personal loans.
I don't have a payslip, but I'm banking at capetic I have an income of 3000 can I get a loan?
Unfortunately, Capitec requires clients to prove their income. The only way they have to prove that you receive a monthly and stable salary is for you to provide them with your payslips. There are other companies that do lend money to people with no payslips. You should check out our articles to find out more.
I've applied for a personal loan last month at Capitec and paid my first installment on time. Is it possible for Capitec to give me a top up loan?
If you applied for an access loan at Capitec, you will be able to access to revolving credit. However, if you have a personal loan with Capitec, you will not be able to ask for a top up loan. You will have to pay off the loan for you to be able to ask for more money.
How do I apply for personal loan?
Capitec Bank makes available three modes for clients to ask for a personal loan. You can start your application online, through the APP or by calling over the phone or visiting a branch of Capitec Bank. If you decide to go to the bank, please take with you your ID, your last payslip and latest bank statements.
I have applied for a personal loan and submitted all required documents, however I have not yet received an answer if I am approved or not.
You should definitely contact Capitec Bank and ask to talk to a sales representative to inform them about your situation. However, remember that the bank might take a whole week to assess all the information that you provided them with to see if the loan can be approved or not.
When can I apply for a next loan if I already have one and busy to pay it off?
You will be able to apply for a new loan with Capitec once you finish paying the one you already have. This will be much better for you since it will prevent you from having too many obligations to pay off at the same time. When you pay your last installment, you'll be ready to ask for another loan.
How many days it takes to get a response when you take a loan online?
The time Capitec takes to review the information you provided in the application form will depend on many factors. For instance, if you send all the right documents and all your information is complete and accurate, you will most likely hear from Capitec within a week. However, if you fail to include a requested document, for instance, the process will take longer.
Does Capitec offer pension bridging loans?
Unfortunately, a pension bridging loan is not a financial product that Capitec offers. At this bank, you can find personal loans, home loans and revolving credit lines. Please refer to our articles to find information about financial companies that do offer the kind of product you are looking for in South Africa.
I am unemployed but have a fixed income from a fixed investment at Capitec. I also have a bond free property. Will I qualify for a personal loan to replace my roof?
Personal loans at Capitec are ideal for carrying out home improvements, such as replacing a roof. It is positive that you have a fixed income, but Capitec will require you salary slips as well as bank statements. Besides, it will assess your affordability and how stable your income remains. When you apply, Capitec will take these matters into account.
Can you help me?I need a loan
When you need a loan, Capitec can help you out. The company offers a personalized loan that you can access by visiting your nearest branch. Gather the necessary documents and enjoy the benefits of the loan, such as terms from 1 to 84 months, approval in minutes, monthly repayments that stay fixed, loan consolidation, etc.
If you have an existing loan with capitec bank, when can you apply again for personal loan?
You will probably have to wait until the whole payment of the credit (all installments) has been covered. The company, Capitec, does not provide details about the possibility of loan renewal, but companies generally take into account the moment that you paid the installments in order to grant you a new one.
Is there a way of applying for a personal loan online? If there is, how to apply?
Yes, Capitec allows its clients to get a loan by means of virtual methods. Before applying, you need to take into account that Capitec will take a look at your credit profile as well as all the documents that you provide, so make sure that you latest salary is correct and that your ID is original.
How do I qualify for a online loan?
In order to qualify at Capitec for a loan, you will have to make sure to have all the necessary documents and a favorable credit profile. Your affordability will also be taken into consideration. You will need to provide Capitec with your latest pay slip, a bank statement that displays three salary deposits (consecutive) and an ID.
Do I qualify for a personal loan at Capitec ?
Capitec will let you know whether you qualify for a loan based on your credit profile and affordability. The bank will evaluate your income as well as your expenses to check if you can afford installments through a certain amount of time. It will also evaluate your income's stability. Clients can choose the amount based on the offer.
If you apply for Capitec loan online and its approved,how long will it take for funds to be available in my account?
Once your loan has been approved by Capitec, then you will have immediate access to the money in your bank account. If it takes longer than expected, you can get in touch with Capitec to let them know about your issue. In general, the process takes place immediately after loan approval.
Can I get another loan while I'm still paying for another loan at capitec?
If you are already paying for another loan at Capitec, what may be convenient for you is a consolidation loan that can help you unify all your existing installments and loans. If you choose this option, Capitec offers you monthly repayments that are easier to keep track of. You will definitely have more control over your expenses.
Hi, can I get a loan only for R10000 or R5000 please? I'm struggling
Yes, Capitec offers personalized loans that reach up to a limit of R250 000. They offer personalized financing, which means that the bank will make you an offer taking into account your credit profile and your financial needs, to provide you with a more competitive rate and better fees. The term of the loan ranges from 1 to 84 months.
I have an income of R3000 every month and I am a student, can I apply for a personal loan?
If you earn R3000 as a student, you may be able to apply for a personal loan at CAPITEC. The company will ask about your credit history and banking history. It will evaluate how much you can afford through income and additional expenses. It will also check the stability of your source of income to give you a good deal.
How much can I pay in 48 months?
In 48 months, you can apply for a loan amount of R100000. Your repayment per month would range between R2995 and R3871, depending on certain specific conditions. On the contrary, in 48 months term, your total repayment could range between R 143 750 and R 185 794. Remember that these values may fluctuate based on your affordability and credit profile.
I missed the call from Capitec consultant, regarding my loan application, and I can't call the number back, so Im worried cause I really need this loan.
In case you have already applied for a loan at Capitec and members of Capitec have already tried to reach you, then there are two alternatives. The first one is to wait for the company to get in touch with you again. The other option is to send them an email in which you explain your situation.
Can I apply for loan without an ID?
At Capitec, it is not possible to apply for a loan without a South African ID. It must be the original document and you should be eighteen or older. In case there is a difference between you ID number and your name, you will be required a name change letter, a divorce court order or a marriage certificate.
Hi there. Can I still apply for a loan if I don't work, but I get a monthly amount of R430 every month and I have proof on paper?
This is not possible. Capitec is quite strict in meeting the requirements involved in applying for a loan. Capitec asks its clients to present their salary slips (their latest ones) and will ask you to forward bank statement that prove your salary deposits (they need to be consecutive, original and must by three). The account should be in your name.
I want to know if you borrow 5oooo and you pay it in 5 years, how much you pay per month?
Your monthly payments will be defined by the interest rate Capitec will charge on your loan. I’ll take the lowest rate, 14.20%, as reference to illustrate your example. With that rate and terms in mind, you will get an approximately installment of R1414. Keep in mind, the interest rate can reach up to 27.40%.
Can I apply for loan online and get it the same day?
If you need to have access to the money fast, you will benefit from Capitec credit facility. This product permits applicants to get funds to cover that emergency no one expects to get. The money you get must be returned the following month and, bear in mind, you can only ask 5000 rands as maximum. Besides the interest rate, you will be charged a 35 rands monthly fee along with an initiation fee.
I want to pay credits and education
Clearly, you’re looking for a consolidation loan. Even though, Capitec only offers personal loans, you can use it to pay for those existing debts. The only thing different from a consolidation loan is that you will be in charge of taking your Capitec loan and pay for your debts one by one. But, at the end, you will stay with one monthly installment.
If i am self employed but still using my capitec bank account savings for my business every month. Do i qualify for loan?
As long as you demonstrate that you have a stable salary in order to sustain your loan, the company can determine your status as eligible for a credit. That is why you must also submit bank statements.
Can a person make a top up loan at a capitec bank?
The loan you apply for at Capitec can be increased after some months, provided you have already paid the monthly installments corresponding to the loan on time. Other wise, you will need to apply for an additional loan, but i recommend you to wait until you can top up so as to save some money.
I have R 22 000 i want a loan from capitec to help me buy a house
Yes, with Capitect together with is agreement with Sa Home Loans, you can obtain the house you want. If you possess R 22 000 the bank can give you the chance of obtaining a home loan that is paid in 20 years with interest rates of 10,25%. The Loan repayment for this house loan will be that of R 6,600 which is a monthly installment. You will also need to pay a service fee of R 68.48 which is a small amount of money
I have collected 3 loans but now, I need a home loan. Is it possible?
Repaying for three loans at the time, plus the rest of your expenses is already a complicated task. Adding a home loan, may have some serious unfortunate consequences. Ultimately, this answer depends on your financial capacity to pay for everything. So, first, you need to contact a Capitec assistant to tell you exactly what are your options and, second, you have to take your time to think through those options to decide on your best choice. Make sure not to get loan terms you can’t keep up with.
To be able to borrow money from Capitec, how much income should I earn?
The principal requirement Capitec pays attention to as regards the client’s income is if it’s stable and gets pays lips from the employer to verify the amount. After that feature, the sum of money you will get will vary according to other factors: the loan amount you need, the loan term to cancel the debt, your credit history and so on.
Everything is clear to me regarding the capitec loans. But the only thing i want to know because I’m not working but i need to start business of selling, may i qualify for a loan?
Despite the fact that Capitec issues loans to business owners, they do it as personal loans. This means, those who make profit from a company, are allowed to get loans for personal reasons only as, Capitec does not grant business loans. To start your own company, I advise you to go over what Nedbank offers. There, you will find loans to get help in any stage your company is.
What do I need to get a loan?
You need your identification document, original proof of residential address (any approved document in your name that have your street address), your latest salary slip, and the lasts 3 month bank statement.
What does capitec have available for clients?
Among the many products Capitec Bank has for their clients, there are three credit options. Starting, you can get a personal loan specially tailored to your need. Secondly, there’s a credit facility to help you get money fast and, to cancel it in just a month. Finally, they can issue home loans through SA Home Loans. It’s clear, Capitec Bank has South Africans’ necessities covered.
I want a loan of 15000 but I’m paid by pay slip, not in bank. Can I do a loan at Capitec?
You still have chances of being approved but, you need a bank account with no exception. This means, you will probably be offered to open a Capitec account as you will get the money in it. Moreover, you will cancel the loan using that bank account, through debit order. So, refer to Capitec to arrange the details of your loan and be ready to enjoy it.
I want to apply for a loan but, I’m not sure how it goes
Luckily for you, we can help! To get the lowest interest rate on your loan, you can start by using our loan simulator and get the cheapest South African companies. Also, you’ll be informed about each of them. Then, when you spot the one that suits your needs, you can use our platform to get in touch with the bank of your choice and, start your application.
I need to know how do I qualify for loan
Any South African older than 18 years old that has a job qualifies for a loan application at Capitec Bank. Then, when that loan request is taken by Capitec, they will verify that the amount of money you get from your job is high enough to get the loan you ask for. Finally, to qualify with no problem at this bank, you must have a good credit history.
What numbers should i phone for a loan at capitect?
You have many phone numbers available. You can dial up the following number: 0860 10 20 43 or you can use your cellphone and send a sms in a fast and simple way: *3279
Can I get another loan by Capitec if my first sort term loan almost finishes? There’s only one month to pay
Capitec Bank will give you the chance to reapply for a new loan. The steps are the same so as to inform the bank how’s your current financial status. You need to inform them, also, if your monthly income has increased, lowered or stayed the same. Apart from that, they will pay attention to your payment behavior and your new credit score. If these points have improved, you can get better loan terms.
I am having a loan at capitec , i pay 3 months and i left with 3 months and i am asking if i can add a loan for r1000 ?
Yes, you can obtain an additional loan at Capitec as long as you have 3 monthly installments left, which is your case
How much for a r 50.000 for 24 month?
We can assist you on an estimated price for that loan because the ultimate cost will be defined by the interest rate Capitec will charge you, which, in turns, depends on your credit record. If, for instance, your rate is around 15%, the monthly installment might get to R 2688. Remember, the interest rate can reach up to 27.40%.
How can I lower my capitec payments?
To make any change to your Capitec loan terms, you must contact your Capitec agent and explain your reasons to do so, for example, if your salary has dropped or, you have more debts to pay, etc. The person in charge of notifying you will take necessary information to study it before giving you the approval.
Do I need money in my account to access to credit facility at capitec?
Not exactly but, you need to have an active Capitec account in which you get your monthly salary. When you apply, the bank will take the information about your bank account movements to inform you about the sum of money you can take on your Credit Facility and then, you’ll have access to it for 9 months.
I will be going on maternity leave for 4 months and my company does not pay for that. How will I pay my loan in those 4 months?
To get a solution that works for both, Capitec and you, it’s of paramount importance that you try to reach the closest Capitec’s branch and discuss it with one of their friendly assistant. There are entities offering unemployed insurance that helps the client when they lose their job all of a sudden. Such insurance, covers the loan for a month or maybe two, giving the applicant time to get a new job.
How can I do multi loan withdrawals if I have an account in Capitec bank?
You can do it through your cellphone, you can use their app or dial *120*3279# (mobile banking), or online by using your tablet or personal computer.
Can i get a second loan at capitec bt i'm still paying for the first one
As the shortest period is 6 months, you have the possibility of having only 7 months to cancel the loan. Keep in mind, of course, Capitec Bank will get through your information before deciding if you can get that loan period. In the end, the loan amount and term will be stated according to how much money can you repay monthly.
Would like to know, do you do student loan?
No, saddly, Capitec Bank won’t issue student loans. All the same, you will be allowed to use a personal loan to pay for school fees, if you think that’s convenient. If you still think you need a student loan, you can check what Nedbank and Standard Bank offer in such loan product and, you might find the perfect student loan for you.
I need a loan to get my dream house
Capitec Banks issues personal loans but, they work with SA Home Loans to also offer any citizen form South African home loans. You can start the application at Capitec and, SA Home Loans will take care of issuing your loan. You can be issued a home loan for R 5 million top and, they’ll give you the final answer in less than 5 business days.
What is the maximum amount can I get from Capitec bank loans?
You can get a personalized credit plan of up to R230,000 to repay from 1 to 84 months.
Can you do a top up on your Capitec loan?
Surely! If you have repaid a certain amount of your total debt, Capitec will process your request to add more money to your loan. Besides, they will need to process your payment capacity once again to check your income can afford to pay for this additional funds. All in all, do your best to pay your installments on time to not get in financial trouble.
Is it safe to use online application to get a Capitec loan?
Capitec Bank assures their applicants they take special care on this matter, recognizing their client’s fears about an online application. Besides, they claim they won’t share any of the information you submitted with anyone else. However, it is essential you are completely sure you’re dealing with this bank before submitting any document.
Hi, my salary is 2600, and I need a loan of 5000, will that be possible for me?
That loan term might be possible but, depending on the type of loan you ask for. As you know, Capitec issues loans adapted to the applicant’s personal situation, which means you have a chance but, your loan quotes may not be the one you asked for. You should get quotes from different entities to see which one of them offers you the best loan.
Can i apply on line?
Yes, you can apply online going into their web page to fill in the application form. Besides, as the loan procedure goes along, you can also send them your documents online making everything goes faster. Apart from this, you can also use their App to ask for a loan. Of course, there are plenty of Capitec Bank’s branches for those who prefer discussing their loans in person.
I want to build my house
Fortunately for you, Capitec Bank has joined with SA Home Loans to cover this kind of necessity. If you’re a Capitec client, you can study how’s the home loan Capitec offers on behalf of SA Home Loan. But, you can also go directly to a SA HL branch to ask about your chances of building your house.
Can I get loan in Capitec because I have one? I need 5000
Having a current loan at Capitec is not a reason not to get a second one. However, your payment capacity will be decisive to get more financial help. You have to apply like you did on your existing loan and, Capitec Bank will decide if your income is high enough to repay both loans at a time.
I already have a loan with capitec, can I apply for consolidation?
You won’t find consolidation loans at Capitec Bank. so, if that is what you really need, I’m afraid you ought to look for another entity. There are plenty to choose from in South Africa. Some of them are Absa, FNB and African Bank. To know which can give you the best rate, you can use our online loan calculator to find out which bank will offer you the cheapest loan.
I need a loan but am not working i just want to pay my fees
Unless you get a job, you will not be granted a loan at Capitec or any other lending company. Getting regular salary from a steady job is the most important requirement all financial agencies ask for. Bear in mind, the money the bank lends you must be returned on set period and, you need to get some sort of income to do that.
I’m a client at capitec. Can I get a loan?
Those South African citizens that meet with Capitec’s requirements qualify to apply for a loan. So, those who get monthly income from a steady job and, have what they need to prove this, can try to take a loan from Capitec. The fact that you’re already client of this bank can make your loan process go much faster.
I want a loan for 20000 rands, how will I pay for it?
Capitec’s loans have repayment periods from just a year to 84 months. So, your options to cancel the loan are among that time. Capitec will present you your alternatives for you to examine and select the one that makes you feel more comfortable. Of course, the decision you’ll make about this point will affect the total cost of your loan.
Interests of loans from 10000 up to 100000
The interest rate any applicant finds at Capitec ranges from just 14.20 % to the highest, 27.40%. In order to know the rate your loan will get, it’s essential you submit the bank data regarding your salary, monthly spends and credit history. For instance, if you obtain 14.20 % and, you cancel R10000 over 48 months, there’ll be R3127 per month on your instalments.
When are clients of Capitec rejected a loan?
The many reasons why you can be rejected a loan has to do with not complying with the age(18), having a bad credit record and not possessing a payslip to show that you have a current and stable salary to sustain the loan you want to apply for.
What if I have many debts and it’s getting difficult to keep up with payments? Can I arrange a simpler way to cancel them?
Yes! there’s a specific type of loan that can help you solve that problem and, it’s called Consolidation loan. With this product, the bank will lend you the money to pay for the total amount of your debts to leave you with just one loan which, of course, will be bigger. Doing this, you can simplify your payments as, you’re left with just one instalment per month.
How much I am going to pay monthly when I hv taken a r45000 loan over 48 months?
Taken 45000 rands and, pay for it on 48 months will have a cost that, in the long run, depends on the interest rate Capitec Bank sets for such credit. I’ll go over some example to illustrate this: if we take the lowest rate for Capitec, 14.20%, the installments would be 1465 rands. Now, taking the highest rate, 27.40%, the monthly cost would be 1809 rands. Remember you’ll get a rate between these two options.
I’m 65yrs old and I need a loan of r10 000 to pay for my grandchild schoolfees. I’m earning r1500, wish to pay it for 48months. Do I qualify?
Even though a R1500 salary may not be that high, the final decision about your loan request will be made as regards your expenses and credit score so, you might give it a chance. Keep in mind, however, Capitec will tailor loan terms that fit with your financial status. So, if they accept to give you money, the loan amount may be lower than R10.000
Can a multi loan be approved if you don’t have credit history?
No, unfortunately, it’s imperative you have some sort of credit score to be eligible for a loan. If you have never taken a loan, for instance, you can start taking short term loan like payday loans. This is a great method to create your credit score to be able of getting a bigger loan in a future. Always remember that the higher your credit history when applying, the more beneficial terms you can get for your loan.
Hi, I am 60 years old, I get my grant monthly, can I apply for loan 2000 rands?
Yes, as long as the sum of money you receive every month is sufficient to cancel this Capitec loan you’re asking without neglecting your other monthly expenses. Don’t worry about this details as, Capitec will take care of processing different assessment checks to assure of this before issuing the loan. Just like that, you will receive the amount of money you can pay for.
Capitec sent me a message saying I qualify for a certain amount of loan, what do I need to bring to activate the loan?
It’s really important to clarify you shouldn’t trust on any message you receive unless you know for certain, they are sent by Capitec. If you haven’t applied for a loan at Capitec, it’s unlikely they have sent you that message as, they don’t have the information about you to decide if you are eligible. In case you did apply, you can reach any of their office with your ID, payslips and bank statements to start the loan process.
If you got a loan you are still paying, can u get another loan on top of that credit?
For those existing clients properly cancelling their installments, Capitec Bank gives them an opportunity to take a new loan. This opportunity involves the client applying in the same way as he or she did for the first loan. The process will go the same: after the bank checks the client’s credit score, they decide whether to lend the money or not.
How to get a personal loan at the lowest rate?
The online calculator we offer at our platform is the best solution. All you have to do is to let us know the sum of money you want to request and, the time you think you can repay it. With just that data, our tool will present you the companies with the lowest rates in South Africa for you to compare their loan products and, take the best for your budget.
Can I get a loan over a period of 84 months instead of 60 months as the instalment is a lot less?
If you have gone over your loan application and that’s the term Capitec has set for you, they surely have good reasons to have stated it. However, you can try to ask them a different loan term as long as you have sufficient funds to pay for your loan payments completely.
I’m a Capitec customer, what are the benefits of a loan with them?
Being their client, to start, will simplify the process a lot because they have your bank statements already, which is essential to take over your credit assessment. But, apart from that, it is common banks prize their good customers with better loan terms and rates, if you’ve had no big financial problems in the past.
I want to apply for a r70 000 loan but I’ve just started working few weeks
Having that short time on a job will make banks reject your loan application because they need to be sure you have a stable income to give them the money back. You have no other option but to wait until you are, at least, from 3 to 6 months working at the same company. Besides, it will make things easier for you when you have to cancel your payments.
I don't bank at Capitec yet can I get a loan there?
Of course! Capitec Bank grants loans to any people form South African meeting their basic requirements and, having a Capitec bank account is not one of them. You must, either way, bank with another entity as, Capitec will ask you bank statements to check your income. Besides, you will get and pay for the loan through a bank account.
I would like to apply for a loan online. Pls guide me how to complete an application for. Thank u
If you want to reach the best quote, you can start by taking advantage of the loan calculator we have. After you compare your options and decide on your company, you can click on the “Get Started” button to find the loan application. All you have to do after that is fill in it with your personal information and, wait for the bank to inform you about your affordability assessment to know how much money can you take.
I need a loan to pay for my child school’s fees. Does Capitec offer student loans?
No, this financial company will not grant you a student loan. You can take Capitec’s funds to pay for those fees but, as a personal loan. If you really want a student loan, there are some other credit agencies willing to suit your need. Standard Bank, for instance, is one of them.
Hi, I was asking if u can assist me to apply for a loan of 2000. I hv a loan with my capitec bank which I’m paying
As you are paying for your existing loan and, assuming you have cancelled your instalments on time, you can try to get more funds from Capitec. Of course, whether you’re eligible or not will depend on the capability you prove to have to pay for the total sum of money owned. Keep in mind, you have the option of taking a pay day loan for just 2000 but, the cost will be higher.
Can I get extra cash from an existing loan?
As long as your payment behavior is correct and, your monthly salary is sufficient to cover for the entire money borrowed, you can apply for a new loan at Capitec. Undoubtedly, the company will still carry on some credit assessment to make sure you can pay for everything. So, get your documents ready to go after the loan!
I am a capitec bank client having a 6months loan, can I do another one at capitec?
As your loan will be payed up in just 6 months, you may try to wait until you finish with those payments before requesting more money. If you can do that, you can have a more organized financial status, which will be really useful to avoid missing payments. On the whole, you have to do your best to don’t end up with more debts than you can afford.
Still have three months to pay off on my old loan. I would like to find out if I can take up a new loan.
As you are about to finish your current loan payments, you have great chances of getting a new loan approval. This, if we assume you have canceled all the previous installments on due date without any delay or problem. On the other hand, if you wait until you finish paying this loan, that will give you better chances of being approved and, also, better loan terms.
Can capitac borrow me money so I can pay all my debt?
You can take the chance to apply for a loan with Capitec to have that answer. All the same, this entity has personal loans to offer you so, if you’re confirmed for a loan, you will have to take care of cancelling your debts. You’ll be using Capitec’s money but, on your own. If you wanted to get a consolidation loan, unfortunately, you won’t find it at Capitec.
Why if I applied for a loan and I didn't get it by Capitec, the money is going in and out to my account?
If you applied and, your loan request was denied, there is no reason to have money transferred by Capitec into your account. There’s the chance that one of their agents had made a mistake that, later on, was fixed. This means, when they realized their mistake, they took the money from your account. However, please try to talk to them to make everything clear.
Can I get a loan with child support grant amount of r750?
Unfortunately, you need to submit salary slips in order to make Capitec Bank agrees to lend you money. Besides, R 750 monthly is not enough to get a loan as, companies tends to request a minimal monthly earning of at least, R 2000. You can try to get a loan if you get another salary besides your child support grant.
Can Capitec consolidate my debts - r250000?
Capitec can help you pay all your debts with a personalized loan, even though they don’t offer consolidation loans. Once you get your quote, which will be decided according to your affordability evaluation, you should submit proof of identity, address and income for the bank to finish the transaction. When you have the money, you can cancel your debts and, stay with Capitec monthly installment only.
Good assistance from the staff in solving customer´s doubts and problems.
Capitec Loans are designed for every adverse situation in life.
Capitec Loans really help you when you need large sum of money.