Established in 2001, Capitec Bank now has over 7.3 million customers nationwide. Specialising in offering simplified banking solutions, such as paperless banking and Sunday banking, Capitec is fast becoming one of the leading financial institutions in South Africa.
The bank bases it operations on values such as simplicity, affordability, accessibility and personal service. Through over 720 branches the bank and its 11 440 employees provide quality solutions to clients nationwide.
One of these solutions is the Capitec Loan Calculator.
How to use the Capitec Loan Calculator:
The calculator helps individuals make the best credit decisions. By using the loan you can work out how much you need as well as the length of time you need to repay it.
- Select how much you need
- Select how many months you need to pay it back
- The calculation will be based on the interest rate
The calculator will work out your repayments.
The Capitec Loan offers up to R250 000 in credit, which can be ideal for paying for studies, home renovations, medical bills or even for wedding costs. Repayments are flexible, with up to 84 months to pay. The application process is simple and can be completed online.
- Be at least 18 years old
- Have a valid South African ID
- Be permanently employed for a period longer than 2 months
- Provide proof of residence
- Provide your latest payslip
The calculator defaults to the minimum interest rate that you could qualify for.
The Capitec Loan Calculator will provide a breakdown, including:
- The Loan Amount
- The Loan Term
- Interest rate
- Monthly Service Fee
- Initiation fee
- Total Repayment
Further reasons for using the Capitec Loan Calculator:
- It’s simple to use and easy to access.
- The calculator can aid budgeting and give you a better idea of how much you’ll be spending.