Compare the best loans of South Africa and find the lowest rate
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.
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.