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Are you looking for a responsible company to get financial support? Do you think that Capitec can meet your needs? So, welcome! Keep on reading this post so as to get all the information you need about the different ways that Capitec Bank has to provide financial aid to Limpopo’s citizens.
Capitec Bank was founded in 2001 and since then, it has been working hard so as to become one of the leaders in the South African market. In order to reach as many people as possible, the company has been opening offices all around the country and in the area of Limpopo there are many to visit. In this article, we will show where they are as well as what are the different lending programs that you can apply for. We will also include some calculations for you to know how interest rates work in real life and the papers you need to be eligible for the loans.
Offices of Capitec Bank in Limpopo
You can find branches in the city of
There is another office located at 66 Landdros Mare St, Polokwane, 0783, South Africa. In this case, timetable is different. Capitec agents will be available from Monday to Friday from 8a.m. to 5p.m. and on Saturday from 8a.m. to 1p.m. On Sunday, doors are closed. Similar to the previous office, you can contact representatives by phone in the same office hours dialing up 860 102 043.
Rates and Calculation of Capitec Bank Loans
There are at least, three main loans that you can apply for with the following features and rates:
Home loans: if you are thinking about how to pay for your home, please count of Capitec Bank support. The bank work with a partner: SA Home Loans. This union partnership facilitates amount of money that can reach up to R5 million to be used in home purchase. In case you already you’re your own home, you can start application so as to get money to improve it.
Multi loans: everyday expenses can be really hard to affront. In fact, there are always unexpected event that complicate your life. In order to have cash money, you can ask for multi loans. They only lend money for amounts of money of R4000 whenever is needed. Regarding financing, you can choose a period of up to 6 months to return principal and interest.
Personal loans: if you need money for a specific purpose that involves higher amounts, apply for a personal loan. The amounts of money available go from a minimum of R4000 to a maximum of R250000. The money can undoubtedly be used to buy a new car, to go on vacations and even more. The money you borrow can be financed in periods of up to 7 years and interest rates will depend upon such length. However, they range from 13% to 28%.
In order to have an idea of prospective payments, let’s analyze some possible figures and calculations:
-Imagine you need an amount of R25000 to buy new furniture for home. As it was said before, there are many alternatives to finance the money. If you choose a short financing term, such as one year, you can ask for the minimum interest rate that is 13.2%. Therefore, you should be ready to pay during the 12 month the amount of R2411. If you prefer a longer financing, such as two years, interest rates will be of approximately 16.4%. As a result, you should be ready to pay R816during 24 installments.
-You can also borrow a higher amount of money, such as R100000 to affront many needs. Similar to the previous calculation, if you choose one of the shortest financing periods, you will get one of the lowest interest rates: 13.2%. This means that you will approximately pay R9117 during 12 month. If this amount of money is too high, you can choose a longer financing term, such as two years. You should be ready to affront an interest rate of 18%, which means that payments will be of approximately R3041.
Contact Information and Important Details
If you are still interested in the bank and you don’t live near any office, there are other ways to start application. First, you can call the bank by phone. From the comfort of your home, you can dial up 0860 10 20 43 whenever you feel like since the line is available 24/7. You can use telephone assistance to ask questions about the programs or even to apply for them. What is more, you can also pay a visit to the official webpage. There you can easily start online application. There is also an e-mail address for you to send questions or comments: ClientCare@capitecbank.co.za.
It is important to take some points into account before starting an application. To begin with, you cannot borrow money if you are 17 or younger. With Capitec, you are required to be 18 or more with identification number. What is more, you should have an employment and the last three payments to prove your income. And finally, you have to bring a tax where it is possible to show your personal address.
To conclude, no matter in which part of Limpopo you live. There is more than one branch that you can count on so to borrow the money you need. You can ask from minimum amount of money to cover medical expenses, for example, or you can borrow really high amounts to finance home purchase. Stop worrying about money and start enjoying the kind of life you deserve.