Capitec is known to be one of the major banks in South Africa, even though they are fearfully new compared to other major players like ABSA and FNB. Capitec offers a variety of products and the guidance and this includes affordable loans of up to R250,000.
Their personal loans can be repaid over a period of up to 84 months and if approved the money will be immediately available in your bank account. With this loan he also gratefully retrenchment and data, and you will benefit from fixed monthly payments as well as the ability to consolidate all your existing loans for easier monthly repayments.
What you will need to apply:
- Identification document
- Original proof of residential address (any of the approved documents in your name with your street address)
- Latest salary slip
- 3-month bank statement showing at least 3 salary drops.
If you are unemployed you will unfortunately not be able to qualify for personal as you will not fall within the credit granting policy of Capitec.
When it comes to Capitec loan repayments you’ll have the ability to repay your personal loan over a period of up to 84 months. This means fixed payments for the full duration of the loan, thereby making it easy for you to budget for your payments.
Buying a home can be quite expensive and you will make credit to facilitate the purchase of your house. This is why a home loan from Capitec is a great option to consider. Your home loan repayment will depend on the period that you will borrow the money for, which is usually between 15 and 20 years. The mail to qualify for also depend on your credit profile and income level.
Your instalments will change according to how the interest rate increases or decreases. For the first few years, most of your loan repayments will go toward paying off the interest. Over time more of your repayments will go toward paying off the actual loan amount.
You can read more about Capitec personal loans online.