Capitec Personal Loan

Capitec Personal Loan

Capitec is a South African financial institution that offers banking and borrowing services across the country. It offers different kinds of credit products, including home, multi and Capitec Personal Loan. Interest rates are generally very low, making this bank desirable for anyone wishing to get financed with a loan. Either you want to home improvements or buy something that you really need, Capitec loan would be ideal for your desires.

Capitec Personal Loan

Personal loan amounts can be as high as R 250,000, which applicants can repay in 84 months. Other allowable amounts are R 100,000, R 50,000, R 25,000 and R 5,000, which have to be repaid in 48, 24, 12, and 6 months respectively. Also, they allow their customers to borrow any other amount as per their needs, which they can repay up to 84 months.

You are free to choose your personalized offer any time. It will be merely based on affordability.

Documents and Requirements for Loan Application

To apply for a loan with Capitec Bank, applicants will need the following:

• South African ID card and proof of address
• Most recent salary slip
• 3-month bank statement, which has to be recent
• Being a South African citizen
• Have a steady income
• Being between the ages of 18 and 60
• Not be under debt counselling Benefits of Capitec Loans

Capitec Personal Loan Interest Rates

To get the personalised loan, the bank has to evaluate customers credit eligibility. Actual credit amount and interest will be depend on individual’s affordability and affordability. This is usually determined after considering their income, expenses, credit scores, loan amount and the term they decide to choose. At Capitec Bank, the interest rates range between APR 12,9% and 27,9%. However, they don’t have minimum or maximum interest rates as they all depend on customers eligibility. Their rates are fixed just like the monthly payments.

Capitec Personal loan have numerous benefits. They include:

• They are very easy and quick to apply
• Customers get the money immediately after their loan has been approved
• Loans come with flexible repayment options
• They offer higher loan amounts when compared to other banks in the same country. People seeking a loan can contact Capitec Bank so that they can find a way to help in the financial situation. They can also apply for the loan via online, app, visiting nearest branch and call on 0860 66 77 89.