Ask anyone today and they probably have debt. Don’t get the idea wrong, though, they aren’t living above their means. Most of the debt people have is for investment rather than just expenditure.
That’s why there are a number of banks today willing to offer loans. Some, like Capitec Bank, are offering loans are great rates and even better terms for repayment. What you’re probably now wondering is how can you apply for a loan with Capitec Bank.
Well, there are a number of ways that you can get a loan with Capitec Bank. Below, you’ll find information on how you can go about applying for a loan with this specific bank.
Other info on terms and loans offered can also be found below.
Capitec Bank Loans
When it comes to loans, banks offer different types of loans for different needs of customers. For example, there are personal loans, auto loans, business loans and so on. This bank also offers the same type of loans to its customers.
The borrower, however, has to meet certain requirements before they can apply for a loan. Unless they do, their application is rejected almost immediately.
With Capitec Bank, you can get a loan that ranges in the excess of R250,000 depending on the loan you want to take out.
Loan Requirements
As mentioned, to get a loan from Capitec Bank, you have to meet certain criteria for your loan to be approved. First of all, you have to be at least 18 years old and be earning. In most cases, you have to be a salaried employee to get a loan with this bank.
You have to prove your age by providing an identification card or an equivalent, like a passport. Your names should match that which is on your identification documents.
If either of them doesn’t match, you have to provide a court order showing why you changed your name.
After your identification documents, you then have to provide a computerized copy of your last three months’ earning slip. Then, you have to provide a bank statement that will prove your earning is correct.
Do note that if you provide an over the account statement, it has to be stamped.
How To Apply
When it comes to the application for the loan, there are a number of ways that you can apply with this specific bank.
You can choose to walk into any branch of the bank and begin your application process. This can be a hectic process as you have to deal with bank hall and lines.
As an alternative, you can apply for the loan online. Today, with the advancement of technology, you have an option to apply for a loan at Capitec Bank online. Just visit the banks’ official website or, you can use this link to apply quickly.
Those two methods are probably the most common for getting a loan with Capitec Bank. There’s another method that you can use, however. You can apply for a loan through the bank’s app.
Just download the app on either your Android or iOS phone and begin the process of applying for a loan. Applying through the app is typically the most convenient since you’ll receive the money on your phone and can use it for various expenses.
Why You Should Get A Loan With Capitec Bank
One reason why you should get a loan with Capitec Bank is because of the flexible repayment time of the loan. You can get up to 84 months to repay your loan.
In addition, you can get a loan of up to R250,000. The other thing is that credit is approved immediately when taking out a personal loan with Capitec Bank. The money is then available within minutes for you to use.
The other thing is that you can consolidate your pre-existing loans, which makes for an easy repayment process. The interest rate on the loan ranges around 12.9%, which is quite a deal considering the market.
Contact Capitec Bank
If you would like to contact Capitec for more information, you can call them at 011 27 21 941 1377. Alternatively, you can find their main address at 1 Quantum Street, Techno Park, Stellenbosch, Western Cape, South Africa.
Conclusion
Finding yourself in financial hardship happens at times and this is why banks like Capitec Bank are there to offer you loans. You also won’t have to feel like you’ve been taken advantage of when you borrow at this bank during your tough times.
You have low-interest rates and flexible repayment periods that make loans from Capitec Bank a convenience to have.
Note: There are risks involved when applying for and using credit. Consult the bank’s terms and conditions page for more information.
