Capitec is one of South Africa’s most popular banks and they offer personal loans to clients, including a loan of up to R250,000. That’s more than any of the other banks in terms of unsecured loans. They offer great interest rates and that’s what makes their loans so appealing.
In addition to a personal loan, you can also get a multi loan for unexpected expenses. Their personal loans are payable over up to 84 months based on your affordability and credit profile. They also have a short-term, revolving loan available that will provide you with up to R4,000 per month, which is repayable every month but the credit facility will be available to you every month.
In just over 10 years, Capitec Bank has gone from a small micro lending start up to a major competitor in the South African banking sector. This company is regarded as the market leader when it comes to attracting first-time banking customers and middle-to-low income earners. Their loans offer great interest rates and their approval process is quick and easy.
Here’s how to take out a Capitec loan:
- You have to be 18 years or older
- You have to have a recent bank statement and salary slip
- You have to be employed
- You have to be with your current employer for longer than 2 months
- You have to earn a salary (not just commission) which is paid into your bank account
- You should not have been under debt review or administration
You can visit Capitec’s website for calculators and estimates in terms of how much you need and what your repayment rate will be. You can also request a consultant to call you back if you want to apply for a loan so that you can finalize the application.
Capitec offers various credit options and taking out a loan is easy to do. You also get free retrenchment and death cover as well as the ability to pay the loan over 84 months.