Does Capitec Offer Unsecured Loans? How Can I Apply to a Capitec Loan?
Every month, life always surprises us with new and exciting financial challenges. When the payday comes, we already know that daily expenses, new needs and debts are some of the things that are at the top of our list of priorities.
One of the toughest moments in our lives is when there comes a day when we found out that the money we earn is not enough to pay for all what we consume. It also happens that after a hard year, we tend to wait for our holiday seasons to go on a vacation and relax from the hassle and bustle of the city life, and when we collect our savings we realize we cannot afford the vacations we were dreaming of. Fortunately, there is an accessible way in which we can meet our financial needs on a regular basis: the solution to all your worries can be resolved in a loan.
In this opportunity, the main topic of discussion of this article will be unsecured loans, but not any. If you want to get a general view of what unsecured loans are, you want to collect more information about the main tenets of this loan, and you are willing to know a little bit about Capitec Bank I recommend you to stay in this site and continue reading what follows. If you go over this article you will come upon interesting details in relation to unsecured loan financing.
What is an example of an unsecured loan?
I’m sure that you have heard about unsecured loans before, but maybe that is not the way you name them. Examples of unsecured loans are credit cards, personal and payday loans, lines of credit, cash advances and small business loans. If we look for the definition of an unsecured loan, we will surely find that they are loans in which borrowers don’t have to give any possession or belonging to secure it. On the contrary, the clients’ credit history and their salary allow them to qualify for unsecured financing. Briefly, it is the lending of money that is supported by the creditability of the person who has asked for it.
In some cases, to be fully eligible to apply for it, you may need a guarantor and have a good credit history as well as a steady salary.
What are the responsibilities of a guarantor on a loan?
When you apply for a loan, it may happen to you that the company that is processing your loan application requires you to provide a guarantor for the loan you are requesting. Haven’t you heard that? It sounds quite complicated but it is not. The guarantor on a loan is a person that commits himself to make the payment of your loan in case you are not capable of repaying it anymore and you are burdened with debt. A guarantor has also the responsibility to act as a cosigner and he or she also certifies that you are a good and reliable candidate and customer to be given the loan you are applying for. The most important responsibility on the part of the guarantor is to make sure that payments are made if the actual borrower is in default. In case that none of them can consolidate the debt, the whole situation can have a negative impact on their credit scores.
Unsecured loan qualification: What is needed to apply for a Capitec loan?
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Let’s go over the requirements that Capitec Bank has set for its products.
For personal credits, they want their clients to:
- Have reached the majority of age, that is, be more than18. Your ID is also required.
- Show proof of address that certifies where you live. This has to be an original document.
- Bring a salary slip. The latest one.
- Bring three bank statements that have to be stamped.
For personal home loans clients will have to:
- Your personal ID. If the property is a joint one, then the documentation of both owners will be needed.
- Bring your marriage certificate.
- Present three bank statements and three payslips, as well.
- Bring a copy of the purchase of your house.
What does Capitec loan application online consist of?
If you look for personal credit, you can apply for it online. This way of applying can be carried out in case you want to get a personal loan, any credit card or a credit facility. The procedure can be easily followed through Capitec site. It consists in completing a form through which the bank evaluates how much money are you able to acquire once the loan is approved. According to Capitec, you can have access to loan financing if you are able to afford it and based on your credit profile.
The Capitec application of credit is divided into three sections:
- Your personal information.
- Verification of such data.
- The approximate amount of money you can be given.
Is it true that can I apply for Capitec loans via SMS?
Yes! You can start the application form by sending a text message to this number 44773. The word that you have to text is CREDIT. You apply for the loan, you get approved and borrow the money. Finally, you repay it in monthly installments.
Does Capitec have a loan calculator?
There is a Capitec credit calculator that can help you determine the costs of the monthly payments. There is also another credit tool that is quite useful since it contributes to estimating an approximation of how much money can you get based on your current financial circumstances.
If you feel curious to know about the different unsecured loans and what the loan terms are, loan amounts or other relevant information, such as Capitec loans' interest rates, you can check out the options available in other articles you can also find in this site.
Don’t be afraid of taking advantage of loan financing. If you are organized and you follow the instructions accurately, anything can’t go wrong. Don’t waste more time and put an end to mounting debts. Start saving for the future!
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Questions and answers
Do they offer auto loans?
They do not offer auto loans; however, unsecured personal loans can be used for a auto purchase.
Where can I find an office?
Search for your closest local office on their website.
Is there any credit insurance added to the cost of the loan?
Depending on the loan amount, you may have to purchase credit insurance.
Excellent loan options.
I trust Capitec. They are always ready to help.
I've taken an unsecured loan with them. Really simple.