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Which Capitec Loans Are Available for Clients? Details and more

When choosing a financial entity to help you out with your troubles, it is important to choose wisely. There are plenty of banks offering loans and services that could do the trick, such as African Bank, Wesbank, FirstRand Bank, Nedbank, Albaraka Bank, Sasfin Bank, Standard Bank, Mercantile Bank. An example that was not mentioned here of an excellent bank that may have everything you need is Capitec Bank. Keep on reading and you will find more about the loans it has, the assets endorsed, the calculators and simulators that you can use, rates and terms, among other interesting details.

What are the assets endorsed by Capitec Bank?

                Capitec stands out mainly for having the following assets:

  •  Simplicity

  • Affordability

  • convenience

Who is Capitec?

                The company was started in the year 2001, which makes it a newer company among other entities in the industry. Although it can be considered quite new, it already has 10 million active clients. There are 826 Capitec branches spread all over South Africa. In the company, there are working more than 13 333 employees. Throughout the years, Capitec was able to creat a solid convenient company that could bring some sort of financial relief to its clients.

What can you do at Capitec?

                At Capitec you can do the following:

  • Transact

  • Save money

  • Insure

  • Credit

All these actions are possible at Capitec. Each has different rules and regulations that you can check at the website of the company. This article in particular will deal mainly with obtaining money as a loan.

What are the benefits of obtaining a personalized loan?

                With a personalized loan at Capitec you can have a loan made just for you. It will be useful if you need to carry home improvements, purchase a reliable vehicle to travel safely, cover the costs of your family’s education or pay off a debt. You will receive an offer that will strictly be based on your personal profile with fees that are lower and convenient rates. Your installments will be affected by the term chosen. You will have a whole term in order to pay your installments per month.

What are my options?

  • You can obtain R250 000 in a period of 1 to 84 months.

  • Indicate Capitec Bank what your desired amount is like and choose the number of installments that could suit you best.

  • Explore the possibilities that mean having a lower interest rate

  • Capitec approves your credit in just minutes.

  • The money you applied for will be ready immediately

  • Repayments are fixed so that the value remains the same per month

  • Rates start at 12.9%

  • You can consolidate the loans you already have so that the system for monthly repayments gets easier

  • You can also add credit insurance

  • You will be able to handle your credit by making use of the app Capitec has

How can you apply at Capitec for a loan?



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                In order to apply at Capitec for a loan, you can turn to your cell phone or computer and apply online. If that does not appeal you, you can download the Capitec application on your phone and use it there. You can even call the bank and apply for the loan through your mobile or simply visit a Capitec office. Here you can find some additional bits of information you may appreciate of the bank. If you were to contact this company in person, then you can search through their map or office locator to find an office close to your area of interest.

Requirements

Present your ID with proof of residence

Telephone

0860102043

Email address

No email address yet

How does the offer work?

                When you apply at Capitec, you have to make an offer. This could be either accepted or rejected by the company. What will they take into account? Your credit profile and affordability will be tested. They will test the following:

  • Your banking history

  • Your credit history

  • Your expenses and income to  check whether you can afford the installments

  • Your stability regarding the sources of income

Your advantage is that you choose the amount and the installments, and then the bank will put all those items into consideration to make a decision.

Do you need credit insurance?

                At Capitec, if you chose 7 months terms, then you are required a credit insurance.This should be used for covering disability (temporary or permanent), death, retrenchment, death or unemployment. You can get a credit estimate at their website.

Do I need documents at Capitec?

                You will certainly need an ID. Your name must match the one present in your ID and residence document. You are probably going to be asked to provide proof of residence (original), your salary slip and a bank statement.

How are rates and fees at Capitec?

                Each value changes with each option that you choose. If you want R5 000 with credit facility, your monthly rate would be of 20.75. Your monthly service would range from 35 to 69. Now, if you want R25 000 with a term of 12 months, then you would have to pay a fee of 69, and your interest rate would range from 12.90 and 27.75. Your initiation fee would be of R1 207.50. This would only be paid once.

Are the rates similar for credit cards at Capitec?

                In the case of the rates and fees of credit cards, they are a little bit different. The initiation fee is of R100 and the monthly fee is of R35. In this case, the interest rate ranges between 10.25% and 20.75&.

Conclusions: is Capitec to trust?

                In conclusion, if your objective is to work with a company that offers loans and endless possibilities, then Capitec is definitely a good choice. It offers you ways to affordability, flexible solutions and simulators that can help you predict your installments. You can also turn to Capitec for loans of different sort, credit cards and other ways of financing.

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Questions and Answers

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.
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.
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
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.
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.
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 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 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.
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!
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.

Leave your rating about Which Capitec Loans Are Available for Clients? Details and more

(4,10) / 10 Ratings

Rating: 3
Comment: Good assistance from the staff in solving customer´s doubts and problems.
Rating: 4
Comment: Capitec Loans are designed for every adverse situation in life.
Rating: 5
Comment: Capitec Loans really help you when you need large sum of money.
Rating: 5
Comment: Capitac gives easy payment options and affordable loans. They also give consolidation loans of which is phenomenon
Rating: 3
Comment: I truly believe it's the best bank and it is safe u save alot especially montly fees i love banking with capitec
Rating: 5
Comment: Fast and simple
Rating: 5
Comment: Its good one
Rating: 5
Comment: Business
Rating: 5
Comment: You can always count on them when u need money

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