Capitec Loans Review:
♦ Personal loans up to R200,000
% Low-interest starting from 12.7%
↵ Repayment up to 84 months
Capitec Bank is a South African bank that offers a wide range of loans and financial services.
Capitec Personal Loans are designed to make it easier for you to get the money you need when you need it most, so you can spend less time worrying about money and more time enjoying life.
Capitec specializes in consumer lending, but also serves small and medium-sized businesses with business loans. Capitec is a leading microfinance institution in South Africa with over 2 million customers.
Capitec Personal Loans
- Fast, secure and easy to apply.
- Apply in under 10 minutes.
- Secure and confidential.
- No hidden fees, no hidden costs and no upfront payments.
- Fast, easy and secure online application process that takes just a few minutes to complete, with no paperwork required! You can even apply from your mobile device using our app or SMS messaging service if you prefer not to use website.
Personal Loans have a flexible repayment term and fixed rates
- Payback period can be up to 12 months.
- Fixed interest rate.
- Fixed monthly payments, which means your monthly installments remain the same throughout the loan term and you do not have to worry about any increase in your monthly payments due to an interest rate change.
For example, if your current credit score is 750 and you applied for a R30 000 personal loan with Capitec Bank on 1 February 2019 with an APR of 15% p/a (annual percentage rate) over 36 months, then this would mean that your total cost would be R45 637 including fees and charges which works out at R3 875 per month for 36 months or R1 531 per month for 24 months – whichever applies according to their policy at the time; however should there be any increase in interest rates during this period then this will not affect any existing customers as all new applications are subject only under these conditions.* Payments made via direct debit from bank accounts every month on a fixed date agreed between both parties when signing up for such service agreement(s).
Capitec has over 15 years of experience helping customers with their financial needs so they know exactly what borrowers need from their loans: speed, convenience, affordability and simplicity – all while delivering exceptional customer service through every step of the process (from application through approval). They are committed to providing fast access to credit so that you can get back on track faster than ever before!
You can enjoy peace of mind with our fixed interest rate and payment options
- You can choose to pay back the loan in full or in monthly installments.
- You can make additional payments at any time, without incurring interest charges. This is ideal if you have more cash available and want to reduce your loan balance even faster.
- If you have an emergency and need more money than what is available on your Capitec Personal Loan, we’ll consider an early repayment request as long as it’s within 30 days of receiving the funds – with no penalty!
- Choose the right loan amount and term that suits your needs.
- What is the minimum and maximum amount I can borrow?
- The minimum amount you can borrow is R3 500, while the maximum amount available is R100 000.
How much does a Capitec Bank loans (personal loan) cost?
There are no hidden fees or charges when you apply for a personal loan with Capitec Bank. You only pay one simple interest rate and there are no additional fees or charges for late payments or defaulting on your payments. The only additional costs that may apply are those associated with collecting outstanding debt from a credit provider if you fail to settle your account on time (e.g., legal costs).
Apply for a loan in under 10 minutes using your smartphone or tablet! Apply for a loan in under 10 minutes using your smartphone or tablet!
No need to fill out lengthy forms. Our app does the work for you by automatically inputting information from your SARS e-filing. It’s easy and convenient, so apply now!
Free credit report check on a single loan
The Capitec personal loans are available in South Africa. The credit report is a legal document that provides lenders with information about how you have managed your finances in the past and thus helps them decide whether to lend you money.
The credit score is based on your payment history, outstanding debt and number of enquiries made by other companies when you apply for credit. If a lender gets an enquiry from another company while they’re still considering whether or not they want to lend money, it doesn’t look good because it suggests that maybe there wasn’t enough money left over after paying off any existing debts (like short term loans).
Capitec Bank Loans choosing right one!
Capitec Bank says: We make it easy for customers to get the money they need when they need it most, so they can spend less time worrying about money and more time enjoying life.
We know that getting the right loan can be a daunting task, so we’ve taken all the hassle out of it. We offer our customers a range of personal loans with flexible repayment terms and fixed interest rates. This means that you won’t have to worry about changes in your finances affecting your ability to pay back what you owe us!
Other Capitec loans
Loan types: Capitec Bank offers a wide range of loans for your needs. These include personal loans, car loans and home loans.
Loan amounts: The amount you can borrow depends on your income and other factors such as the type of loan you apply for and its purpose (e.g., buying a car or house).
Interest rates: Interest rates vary depending on the type of loan you apply for and its purpose (e.g., buying a car or house). You’ll find all our current interest rates on our website under “Loan products”.
Repayment periods: Loans may be repaid over various periods depending on your needs; however it is important that they are paid off within the set period agreed upon by both parties when applying for one at Capitec Bank
Capitec Consumer Loans
Personal Loans: These are unsecured loans that you can apply for if you want to buy a new car or pay off existing debt. You can also use the money to fund holidays or weddings, as well as home improvements such as renovations or extensions. These loans offer flexible repayment options with fixed interest rates starting from just 5% pcm (per annum).
Business Loans: Capitec Bank has over 20 years experience providing financial solutions to businesses of all sizes in South Africa through its suite of business-focused products including cash flow management solutions – factoring & invoice discounting; asset based finance; term lending facilities up to R1m; short term working capital lines which allow businesses access funds within 24 hours on approval from just R500 per month plus VAT where applicable..
Capitec Bank Loans – Business Loans
If you’re a small business owner or a micro business owner, Capitec Bank has a loan for you. Our business loans are available for all kinds of purposes:
- Expansion
- Working capital
- Equipment financing
- Businesses can borrow up to R1million and more, depending on their needs and circumstances.
Mortgage Loans
Mortgages are long-term loans that are used to purchase a home. Mortgages can also be used to refinance your home, but they are secured loans. This means that the bank has the right to take possession of your property if you fail to pay back what you owe on time or in full.
Credit Cards Capitec Bank
Credit cards are a great way to build up your credit history, and this can be useful if you’re applying for a mortgage or car loan in the future. The best thing about credit cards is that they allow you to make small purchases on an ongoing basis, which means that your overall spending will increase over time. This will help raise your score because it shows that you’re able to handle this kind of spending responsibly and consistently pay off what’s owed each month (in full).
Capitec has a wide range of loans and flexible repayment options.
Capitec has a wide range of loans for you to choose from. They are available to both individuals and businesses, whether you’re looking to buy your first home or expand your business.
Capitec offers personal loans to help with various needs including:
- Home renovations (renovating the kitchen or bathroom)
- Debt consolidation (paying off credit cards)
- Buying furniture/electronics (TVs, computers)
- The business loan options include:
- Business financing – funding that helps SMEs grow their business through working capital management, asset acquisition and expansion
If you’re looking for a loan, Capitec Bank is an excellent option. They offer a wide range of loans and flexible repayment options. Their rates are also some of the lowest in South Africa so if you’re looking for a loan with reasonable interest rates then Capitec should be your first choice!
