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How Can I Contact Capitec Bank for Education Loans? Information, Queries and Rates

Getting a good education can be the greatest investment in life. Regardless of the member family that is going to study, acquiring knowledge in a specific area to improve future incomes is of paramount importance. However, nobody says that this is a cheap task. In fact, it is one of the most complicated things to afford. But let me tell you that your dream is nearer as time goes by.

                There are currently many financial institutions that offer aid so as to pay for the kind of education you or any other member of your family is looking for. In South Africa, one of them is Capitec Bank. This institution has been working in the market since 2001 convenient financing periods when it comes to lending money as well as really low interest rates. In this article, we will focus on the loans that Capitec Bank has available to exclusively finance education. Apart from revealing rates figures, we will also make some calculations so that you have an idea of possible payments in the future. Once this information is clear, we will continue providing you with different alternatives so as to have access to such lending programs from wherever you live.

How much money can I borrow and what interest rates apply?

                One of the loans you can have access to is PERSONAL LOAN. Capitec offers loans from 4000 rands to 250000 rands to use to pay for education fees. Regarding financing, interest rates usually go from approximately 13% to 28%. They vary based upon the amount of money borrowed as well as the length of the financing period. Principal and interests can be repaid in 7 years -84 payments-.

                In order to show you how financing works in real life, let’s describe different payment possibilities for a loan of R100000. If you choose one of the shorter financing periods –one year–, you can ask for a minimum interest rate of 13.2%. Then, you will pay 12 installments of approximately R9120 during 12 months. If you need to make lower payments, you can choose a longer financing period, for example 4 years. You have to take into account that interest rates may increase up to 18% and, therefore, you will pay 48 installments of near R3041.

                In case you need access to quick cash money, you can apply for a MULTI LOAN. This credits are special since they only grant up to R4000. You can use the money to buy material or to pay for a private tutor. Financing is different from personal loans since interest rates change and periods are just up to 6 months. There is more than one multi loan per month.

How can I apply for the loans?

                There are several ways to have access to a Capital Bank Loan. Let’s take a look at some of them:

Use for phone!

                There are many citizens that don’t feel like going out from their own homes and working and studying is performed in their living rooms. For this kind of people, Capital has created a phone line as to assist prospective and current clients whenever they need it. The number of the line is 0860 10 20 43 and can be used to either make questions about the loans or to apply for them.



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Surf the net!

                Capital has a well-organized webpage that facilitate data about the different programs available. The site has an online calculator that allows people to know their possible quotes when it comes to repay loans. What is more, the company has the services of online application available that let you get all the money you need with a click. In case you have questions or you just want to leave comment, you can write e-mails to ClientCare@capitecbank.co.za.

Contact any agent!

                One of the most ways to apply for loans is in person since there are many citizens that feel safer through this method. Fortunately, Capital bank has offices in many cities of the country. There follows a list of cities with Capital Bank locations and hours of attention:

                -Kimberley: in this area there is an office in the Trust Bank Building. It is located a Jones St, Kimberley. Agents wait for clients during the week from Monday to Friday from 8a.m. to 6p.m., on Saturday from 8a.m. to 3p.m. and on Sunday from 8a.m. to 1p.m. The branch has an exclusive phone line that is 860 102 043 and is open during the same office hours.

                -Johannesburg: in this important city, you can find an office of Capital Bank in Shop 1 at 28 Harrison Stree. As far as phone lines are concerned, you can dial up 860 102 043 and talk to representatives in the same banking hours.

                -East London: the exact address of a Capital Bank office in East London is 126 Oxford Street. Its doors are open every single day. Similar to the rest of the offices, there is a line open you can contact that is 860 102 043.

                All in all, there is no excuse to follow your dream with Capital Bank. This prestigious banking company has lending programs to help you finance whatever need that may come up, even education. You can ask your parents to apply for a loans or do it yourself if you older than 18 so as to get the degree you want. Don’t leave money be a hinder to professionalism. Contact Capital and be a real expert.

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Questions and Answers

If I want a study loan, when must I start paying back the money and who is accepted to get a study loan?
Firstly, once the loan is approved and the money is granted, the applicant starts repaying it in the very next month. Of course, the due date will be informed by Capitec from the beginning so, the client knows for sure about it. Secondly, as long as you are employed, receive payslips, and can prove you are from and live in South Africa, you can get your loan. The quote, however, will be decided by the bank according to your affordability valuation.
Hi, I’m 20 years old studying at university of Free State, I will be doing my 2nd year this year. I was wondering if I will be able to get a loan to assist me. And I would like to know as I do not have parents, how will I be able to repay back the loan?
Capitec has different loans aimed to solve different financial problems. In your case, probably, a Personalized Credit may be ok. You can use R 250.000 to pay for your studies if the credit evaluation has a positive outcome. If you have a job, you can use your salary to give back the money to the bank.
Hi can apply for a loan to pay all my credit and pay just one credit?
What you need is a Consolidation Loan. Unluckily, Capitec doesn’t’ offer that type of loan. However, you can consider working with African Bank as they have loans to consolidate debts among their products. You’ll get fixed rates and flexible terms to repay it and, they even allow you to take a month in which you don’t have to pay the installment.
I’m 20 years old and I have no one to pay for my education so I need a loan. Is it possible to get it?
Capitec will only give you the money if you can afford the payments. So, in your case, as you are old enough, you will need to look for a job that helps you go over the instalments. Once you get it, they will be in charge of getting a loan package that works to pay your studies and, at the same time, which you can repay.
I want money to go further with my education
There are 3 options at Capitec as regards credits: clients can select a personalized credit, a credit facility or a home loan. To pay for education, the best option is without a doubt the personalized credit that grants a maximum of 250 thousands rands to pay over seven years or less. All the same, you can opt for a Credit facility if you need little money to pay for materials, for instance.
I need help so that my daughter can go to college. I will pay this loan in 5 years. Is it possible?
Capitec has repayment periods up to 7 years so, if you plan to finish paying in just 5, it’s possible. You should know, these loans have 12.9% on interest rate and you can receive a maximum of 250000 rands, if your income allows it. So, the cost of the loan will vary according to the quote you ask.
Hi. Does the study loan allow me to even study at the private college? When is the right time to apply for the study loan if I want to study next year?
Good day. If your intention is to get a loan from Capitec to pay for your studies, the quote you’ll receive will depend on your financial situation. This entity will compute your income, expenses and credit history to decide how much money can they lend you. The best time to apply for a loan is when you need it as, it has no sense to have the money much time before you start paying for fees, for example.
Good day. I am currently banking with Capitec and I am employed. I would like to apply for a student loan at Capitec. Kindly assist on your processes
I must clarify that Capitec doesn’t offer Student loans, but Personal loans that you can use to pay for your studies. Once you calculate how much money you need to cover what you need to pay for, you can get an estimate with Capitec to see if you qualify for a loan. You shouldn’t worry as they will evaluate your finances to get to a loan amount with terms that you’ll be capable to afford.
How do I apply for a student loan?
No matter the reason why you need the loan, you must start by getting an estimate. In that process, Capitec will receive the information they need to check your identity and credit profile. Then, they’ll get in contact with you and discuss the characteristics of the loan based on the information they recovered. You can apply over the internet, approaching a branch, by phone or even, through SMS.
Hi I'm 20 years old and want a loan r500 from Capitec. Is it possible?
That amount of money is too low for the loans that Capitec grants. You would probably benefit from an entity that works with payday loans as, for example, Cash Converters or Wonga Loans. You can take out R 500 and repay it in few months. You can even choose to repay the money on your next pay day.
Hi I'm Portia, my daughter is a first year student at free state university. And we would be thankful if you can assist as with study loan. Thanks
Hi Portia! Before making any decision about a student loan, you must have a clear idea of how much money you need and the specific purpose of the loan. Whether you need to pay for tuition fees, accommodation or text books, for example. You could have Standard Bank as one viable option as they offer two packages: Full-Time and Part-time study loans. Then, you can choose the best option for you.
Can you help me finish up my studies? I'm doing office administration and it’s my final year.
If you need a student loan, Standard Bank may be your answer. Depending on how much you need, they can cover all your expenses or just books, equipment and so on. You have to present your marks and to prove you’re registered as a student. Besides, you must have someone as surety, and that person must earn 3000 rands or more
Which is the maximum amount of money that I can apply for to finance education?
The maximum amount is R200 000.
Do I need to visit an office to get the money?
No! You can manage money from your account with home banking.
I am 16; can I apply for a loan?
No, you should be older than 18.
I’m not employed but I want to get a study loan. What should I do?
If you want a loan with Capitec, you must have a regular job. It’s a main requirement for them to approve your loan as they offer personal loans. On the contrary, you may look at other company that accepts another person as “security” of your student loan. That person will be responsible for the cancelation of your loan. One of the companies in South Africa that allows that is Standard Bank.
I need help to study and finish my short course
Capitect will help you on this and, you can use their calculator to know if you can afford their service. For example, you can find out that, for a R50000 loan payable over a year, and supposing you get the minimum rate of 12.90 %, each installment may be of R 4771 more or less. You can change the interest rate as it will be decided based on your information not only the loan terms, to adjust it to your loan. In this way, you can decide consciously whether to apply or not.

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