Saturday, September 7, 2019

Capitec Loan Review

Capitecbank Loan


Get long-term personalised loan of up to R250 000, a credit card, a credit facility for daily needs with Capitecbank Loan, or apply for a home loan by SA Home Loans.

Personalised Capitec Credit Loan

Complete a free instant online estimate and they will call you to personalise your offer based on your credit profile and need.

benefits of Capitec personalised loan 

Whether you need to do home improvements, pay for your children's education to secure their future or buy a reliable car to get your family there safely – living better starts when you get credit for the right reasons.

A personalised loan means that you get the best offer based on your profile and your need, with lower fees and at the best possible interest rate. 

Remember that the term will affect your instalments, so be sure that you'll be able to repay the monthly instalments over the whole term.

Get up to R250 000 over 1 – 84 months
Choose between the amount you want, the monthly installment that suits your pocket, or the option that gives you the lowest interest rate.

Credit is approved in minutes and the money is available immediately

Pay fixed monthly repayments

Get interest rates from 12.9%

Consolidate all your existing loans for easier monthly repayments

Add affordable credit insurance, including retrenchment and death cover

Manage your credit using our app.

How To Apply For Capitecbank Personalized Loan

1. Online
2. On our app
3. Visit your nearest branch
4. Call us on 0860 66 77 89

Your offer is based on your affordability and credit profile

1. Your banking and credit history

2. Your income and expenses to see how much you can afford

3. How stable your source of income is, to make the best offer

4. You choose the credit amount that you want

5..You choose the monthly installment that suits your cash flow or the option that gives you the best interest rate


Documents You Need When Applying


• Original identification document (must be 18 years or older). If your name and/or surname differs from your identification document, a marriage certificate, divorce court order or name change letter will be required.

• Latest salary slip

• Any original bank statement showing your latest 3 consecutive salary deposits into an account in your name (an over-the-counter bank statement must be stamped)

Capitec Credit Card Features 


1. Access to all your accounts

2. Earn 4.75% per year on a positive balance

3. Up to 55 days interest-free period
Personalised credit based on your profile and affordability

4. Credit limit of up to R250 000
Pay a personalised interest rate from 10% per year

5. Secure online purchases

6. Do cashless payments (zero fees worldwide at Mastercard®
card machines, online and for telephone and mail orders)

7. No currency conversion fees for card purchases overseas

8. Manage your credit card on our app.

How To Apply For Capitec Credit Card 

• Visit a Capitec Bank branch with these documents

• Original identification document (must be 18 years or older). If you are married and your surname is no longer the same as indicated in your identification document, a marriage certificate will be required.

• Latest salary slip
Stamped bank statement showing your latest 3 salary deposits

• Save time and try our online estimate to see what you qualify for before going to a branch.

Rates and fees
Initiation fee: R100
Monthly fee: R35
Interest rate: 10.00% – 20.50% (based on your credit profile).

Capitec Credit Facility Loan


Do you have an unplanned expense or would like to be prepared for emergency situations? Get a credit facility of up to R5 000 in minutes to take care of your needs.

What is a credit facility?

• Get up to R5 000 (depending on your affordability assessment)

• The money is available immediately so you can do card payments or get cash at supermarket tills and ATMs

• It's easy to use – transfer money to your transaction/savings account using your cellphone or Internet banking (Remote Banking) and our ATMs

• Must be paid back in full each month

• Reviewed at a branch every 9 months for your convenience

Capitec Credit Facility Rates And Fees

• Initiation fee: R172.5 for the first R1 000 transfer up to R649.75 for following transfers

• Monthly fee: R35 (without active balance owing) R69 (with active balance owing)

Capitec Home Loan By SA Home Loans

Get up to R5 million over 240 months. Apply online to get up to 100% of the home value, or visit our Gauteng branches or selected KwaZulu-Natal and Western Cape branches to get up to 90% of the home value.

About the home loan by SA Home Loans

• Easy online application process

• Up to 100% of the home value when you apply online

• Up to 90% of the home value when you apply in-branch

• Based on your credit profile and affordability

• Special deals available for qualifying government employees

• An SA Home Loans consultant will contact you within 2 working days

• Approval within 5 working days after all your documents have been provided

Affordability

Online

Work out your affordability by clicking on the calculate, apply and track button at the bottom of this page.

At a Capitec Bank branch

Speak to a Capitec Bank service consultant to see how much you qualify for based on your personal credit profile. Factors that may influence your application:

Monthly income (or joint income) and expenses

A deposit that can be up to 15% of the home loan amount

Ways To Apply

1. Apply online

Scroll to the bottom of this page and click on the calculate, apply and track button to see what you can afford, what you could get and apply for a home loan.

2. Visit a Capitec Bank branch

Visit any of our Gauteng branches or selected KwaZulu-Natal and Western Cape branches and speak to a service consultant.

• We need verbal confirmation of a signed offer to purchase

• You must be 18 – 60 years old

• You must not be under debt counseling

What happens next?

SA Home Loans will contact you in 2 working days.

You will need the following documents to complete your application:

Copy of signed offer to purchase
ID document (for joint home loans, both applicants’ ID documents)

Copy of marriage certificate and/or antenuptial contract

3 months’ salary slips

Stamped 3-month bank statement(s).

How To Qualify For Capitec Loan 


If you answer 'Yes' to all of the following questions, you could qualify for credit:

Are you 18 years or older?

Do you have a recent stamped bank statement and salary slip or pension letter?

Are you employed (not self-employed) or do you earn a pension?

Have you been with your current employer for longer than 2 months?

Do you earn a salary (not just commission) which is paid into your bank account?

You haven't been handed over, sequestered or placed under debt review/administration?

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