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:
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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.
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Questions and answers
I want to update my studies of aviation, and it is expensive, so I would like to know if Capitec can help me to fund my studies?
Capitec Bank can always help its customers providing they fulfil with all the criteria corresponding to loan application. Therefore, the requirements include presenting an original ID card, your latest salary slip, a recent bank statement if your salary is not paid into the bank account and a quote from the education provider. All of these factors will be analysed in order for you to borrow money.
Can I get a loan for my child to pay school fees?
You could ask for a Get Credit loan at Capitec and use the money to pay for your child's school fees. At Capitec, you can ask for a maximum of R250,000 and pay it back in up to 84 months. This loan has two main advantages: it is offered with lower interest rates and the money can be directly paid to the institution you need to pay the fees to.
Do I need to be employed to get a student loan?
Capitec Bank does not offer student loans. What you can get at Capitec is a personal loan to pay for your education. If you do not work, but you still want to ask for this loan to pay for your studies, you might want to consider asking your parents to take the loan for you.
I am a PhD student and I need a loan for the final stages of my degree. For example, I need a comfortable space that will be conducive to focused study, food and groceries. At this stage of analysis and synthesis, there is a lot of printing, copying, binding of transcripts, manuscripts up until the binding of three copies of the thesis. somewhere in between, a manuscript has to be send to an editor. For that to be done effectively and professionally, I will need a good editor, and all of this needs a lot of money.
Capitec does not offer an Education loan. What you can do is ask for a personal loan at Capitec and finance the last stages of your PhD degree. However, you should bear in mind that for you to ask for these loans, you will definitely need to prove that you have regular income.
I am doing my last year Masters student, am looking for a study loan, I am owing R 32700 in fees in order to graduate, can I qualify?
If you are permanently employed, you can ask for a personal loan to pay the fees of your Masters. Remember that this bank does not offer loans that are specific for financing studies. If that is what you are looking for, we recommend you to read our articles about school loans.
Hi I need to study and finish my short course. Can you help me with student loan?
You could ask for a personal loan at Capitec Bank and finance your studies. Of course that for you to do this you will need to provide the bank with documents proving that you will be able to pay off the loan. You can ask for a maximum loan of 250,000 rands.
Can I quality for a student loan even if my mother is unemployed? Can I also get a student loan even if I want to study at a private institution?
First of all, in order for you to ask for a student loan, you should find a guarantor that can prove regular income. Second, with Capitec you can ask for a personal loan and with the money you receive pay the tuition of any kind of education institution you want.
Can I apply for a personal loan but start when I'm done with my studies and employed?
If you mean that you want to pay back the loan when you finish your studies, you should know that's how most education loans work. However, at Capitec you will not find an education loan as such. With this bank what you can do is ask for a personal loan and use the money to pay for your studies. Unfortunately, you will not be able to wait until you are employed to start repaying this loan.
Hy my daughter is a first year student at Boston college and am not working how can we apply for study loan when am unemployed?
In order to apply for an education loan, you must comply with some regulations established by Capitec. The company may approve your study loan taking into account your affordability by looking into your payslips as well as bank statements. Unfortunately, if you are currently unemployed, it may be really hard for the bank to approve the loan.
Do I qualify for a student loan for my daughter?
Capitec provides students and families with loans that can be used for academic purposes. In order to qualify you will have to apply on behalf of your daughter and must have a good credit record. You can access convenient rates and will allow you to cover textbooks, accomodation trasnport, tuition costs, meals etc.
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.
I am 16; can I apply for a loan?
No, you should be older than 18.
Do I need to visit an office to get the money?
No! You can manage money from your account with home banking.
Which is the maximum amount of money that I can apply for to finance education?
The maximum amount is R200 000.
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
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.
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.
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.
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.
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.
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.
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 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.
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.
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