Compare the best loans of South Africa and find the lowest rate
When referring to getting a loan, nothing is more important than understanding how everything works. That’s the reason why, I’ll delve into Capitec Bank and, inform you not only about their department contact details, like telephone number but also, what they offer and, what Capitec Bank requests their clients to be eligible. Read this article and, you’ll get all Capitec Bank information you need.
Let’s start by Capitec Bank loans products available
This is a short list of some loans you can apply for with this entity:
1. Loans for South Africans wanting to start a small business.
2. Loans to make some home improvements or, to purchase a house.
3. Loans to finance your children’s education.
4. Loans to consolidate all your debts into one.
5. Loans for big purchases like, buying a new vehicle, for example.
6. Loans for unusual situations like, a medical emergency.
What Fees will I have to pay for a Capitec Loan?
As you are making use of a service when borrowing money, you are also charged for it. As a consequence, when you repay the money you borrowed, the total cost is higher than the money you took. In the case of Capitec Bank, they charge their clients with an initiation fee and, service fees. How do they work? Well, the initiation fee is distributed along the instalments but, it’s only charged once. On the other hand, the service fee is charged monthly. This means, Capitec’s borrowers pay for the service they use each month the loan lasts.
In addition to those fees and, as well as any other bank, you will also have to pay the interest rate stated by Capitec Bank. In the next question you’ll find this information expanded.
What Capitec Loan Amount do I qualify for?
As they work under NCA regulations, therate, loan amount and terms will be subject to the applicant affordability. Some applicants may think this is a disadvantage because they feel they don’t have the freedom they would like to over their loan terms. In spite of that, you may get a good deal as; Capitec’s result will be based on your own capacity to cancel the loan on time. In this way, you can relax knowing you won’t have any trouble with the repayments as long as you behave in a responsible way with your loan. Besides, Capitec commits to give you the lowest rate possible for your financial condition.
What information should applicants know before getting a loan with Capitec Bank?
Applicants may also apply for Credit Facility, which involves taking rather a small sum of money quick. This is useful for unexpected expenses you need to take care immediately.
Capitec offers Credit Insurance for borrowers who need it. It will cover them in case of death, for instance.
There are three options: to get the sum of money you want and, manage to repay it; to arrange instalments that fit your affordability or, to get the lowest interest rate.
If you have gathered many liabilities and, it’s getting more and more difficult to manage payments, consolidation loans are there to give you a hand.
Capitec’s clients can handle their credit through the bank’s App, which is a really helpful tool to do everything fast and safe.
Home loans are issued by SA Home Loans.
Loan terms are made specifically for the borrower’s needs and affordability.
Is there a department telephone number to contact Capitec?
Yes! In fact, they have quite few alternatives to reach them. The number to contact their department store is 08 60 102 043. You can also contact them sending an email through the internet, sending a SMS on your cell phone or, in person visiting a Capitec’s branch.
Capitec Bank: how to go through the Online Loan Application?
Nowadays, online application is the most popular method to apply. It offers the borrower to get money in a fast and practical way without having to get out of their house. Next, I’ll explain how Capitec online application works. I recommend you to start by verifying you meet Capitec Bank’s requirements, which will be detailed later on. The second recommendation is that calculate your possible interest rate using the online calculator before applying. Then, you’ll have some idea of how much money would you be able of asking.
Once you complete these two previous steps, you can start by getting your loan estimate. As simple as submitting some information to Capitec, you’ll have the result. Be ready to provide them with your personal information, your job status and, financial conditions and, information about the loan purpose. After that information is provided, you need to send them documents to verify everything you stated in the application form. And finally, you receive your estimate and, if you get the approval, you can use the money you asked.
What is needed to get a loan with Capitec? Is it possible to get a loan without payslips?
As I told you before, now we’ll cover what you need in order to make Capitec approve your loan. To answer the second question, you won’t be able of taking a loan without a payslip because the entity needs to confirm you have a steady income to afford the money borrowed. The other option could be to present three bank statements but, always keeping in mind; they show your three last salary deposits. Additionally, you mustn’t be younger than 18 and, naturally, you need documents to prove you meet all these requests. Together with that, you’ll be assessed on your credit profile to see how much money you qualify to borrow. Consequently, they may issue a smaller loan amount than the one you asked for.
After having delved into Capitec Banks’ most important information, you can now have this company as a fine alternative for your loan. Bearing in mind they offer loans for almost any need and, they grant loans their clients can afford to repay, you can relax they will assist you on the best way possible.