How to apply for a loan at Capitec in 2022: Simple steps
In South Africa, access to a loan is one of the challenges faced by small/medium enterprises and individuals. Access to loans for anyone with limited collateral or a poor credit history can be difficult. However, each loan facility is designed to meet your daily needs with a flexible repayment plan. So how do you apply for a loan from Capitec?
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Capitec Bank made it easier to obtain financing in South Africa. The retail bank was founded on March 1, 2001 and listed on the Johannesburg Stock Exchange the following year. Over the years, the banking institution has grown to compete with some of the largest banks in the country.
Can Capitec borrow money from me?
Yes, depending on your financial situation and your credit history, you can benefit from a Capitec loan adapted to your needs. For starters, the bank lets you open an account from the comfort of your own home using your smartphone. All you will need to create an account is your South African ID card or passport, and some selfies.
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The following credit facilities for employees are offered in 2022:
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Personalized term loan
The Capitec personal loan is a plan that depends on your financial situation and your profile. You can get up to R250,000 over 7-84 months. Choose the amount you want, the monthly payment that suits you best or the option with the lowest interest rate.
All your banking needs can be met with one card. Get a credit limit of up to R500,000 once you apply for this option.
Ease of access can open up the possibility of starting a part-time business, renovating your home or furthering your education. Lifetime access will give you up to R500,000, payable in 60 months. There are no monthly fees if you don’t use it.
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Using this plan, you can acquire a home loan from R100,000 to R5 million. First, apply online to get up to 100% of your bond approved. Then visit capitecbank.co.za to obtain an online estimate or go to a Capitec agency to estimate your illegibility.
To protect yourself, opt for the low-cost credit insurance offered by Capitec Banque. For credit periods of 7 months or more, this option is necessary to cover death, permanent or temporary incapacity and unemployment.
Can I get a loan from Capitec without a payslip?
Yes, you can obtain a Capitec loan without a pay slip from the retail bank, even without a salary if you have a business or a company. However, it must be duly registered as a company. So how do you apply for a Capitec loan? You are eligible for a Capitec loan if you are 18 years old and a South African citizen.
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You must have a bank account, and if you cannot repay the loan, a guarantor is also required. Other types of loans you can get from Capitec include:
Does Capitec have a temporary loan?
This type of loan is not offered at Capitec Bank, but you can choose from other options. You can get help with the type of loan you need by calling Capitec Bank. Capitec loan contact number is 0860 66 77 89 or by e-mail: [email protected] or call the Client Care Center on 0860 10 20 43.
How to apply for a Capitec loan?
Here are different ways to apply for a loan from Capitec if you are 18 years old and a South African citizen.
- Via Internet Banking – Visit the Capitec website page for this option. Once you have applied for a loan, your information will be reviewed and if credit is granted to you, the funds will be paid directly into your bank account.
- By dialing 1203279# and follow the prompt if you signed up for mobile banking using a cell phone.
- Via the Capitec mobile application: This application is available for Android and IOS users. After logging in using your credentials, you are ready to apply for a loan.
- Request via the bank branch.
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Does Capitec have a personal loan?
There is no personal loan at Capitec Bank.
Does Capitec have an instant loan?
Although the bank strives to meet the different needs of its customers, it does not offer this facility. However, some customers have the option of using self-help on their application to obtain credit.
How long does it take Capitec to approve a loan?
The financial institution can approve your credit application in just a few minutes. The same is immediately reflected in your bank account.
What amount can I claim from Capitec bank?
The amount you can claim depends on your creditworthiness. You can do a quick and free credit estimate online on the Capitec banking app or via the capitecbank.co.za website.
Capitec Bank has greatly improved people’s lives by providing loans to meet the needs of South Africans. Using the Capitec app makes loan estimates relatively easy. The information above on how to apply for a loan from Capitec will help you.
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READ ALSO: Banks in South Africa: List of non-commercial and commercial banks in South Africa.
Briefly.co.za recently published an article on banks in South Africa. More than eighteen commercial banks and non-commercial banks in South Africa led to an increase in bank assets.
According to the Reserve Bank of South Africa, a total of R6 trillion in assets in fiscal year 2017 came from these institutions. Learn more about banks in South Africa here!
Source: News in Brief