Capitec Bank Personal Loan offers to borrowers with a repayment period of up to 7 years. Capitec Bank is one of the largest and most respected consumer banks. The maximum amount personal loan one can qualify is R250000.
Since 2001 Capitec Bank has been offering its clients with easy to pay loans, with affordable rates ranging from 12.9%. Capitec Bank offers loans in Africa to everyone including borrowers with other multiple standing loans.
The following is a comprehensive breakdown on the types of Africa loans offered by Capitec Bank
Capitec Multi Loans
These are loans that are offered to sort borrowers’ prompt short-term responsibilities. Borrowers can get up to a maximum of R5000 deposited into their Capitec account. This loan has a repayment period of one month and its good for short-term emergencies.
Capitec Personal Loans
These are loans offered to borrowers with a repayment period of up to 7 years. The maximum amount one can qualify to borrow is R250000 in cash. The personal loan is quickly processed and with very low and fixed interest rates especially if an account holder uses the same account to receive a salary. Lets assume you borrow R10000 with 12 months term, your monthly repayment will be R1105 with 14.2% interest rate. Service fee R69.00 and initial fee R1 207.50 aren’t included.
Capitec Home Loans
Capitec Bank works in partnership with SA Home Loans and can make someone’s dream of owning a house come true by offering home loans of a maximum of R5 million. It comes with a humble repayment period of up to 2 decades.
Capitec Debt Consolidation Loans
These are loans offered to borrowers who have other small loans and wish to clear them. Capitec Bank offers a maximum of R250000 with lower interest rates. Unlike many banks which do not offer loans to clients with other outstanding loans, Capitec Bank is perfectly tailored to cover everyone.
It also removes the burden of paying multiple interest rates and the risk of being listed by creditors.
Conclusion
• Requirements to qualify for these loans are; being an account holder with Capitec, South African Identity Card, must be employed permanently with proof of income and above 18 years.
• Capitec Bank Personal Loan offers according to one’s credit history and affordability, so as to avoid giving a client an amount which does not match the requirements at hand.
• Applying for a loan is easy. One can apply through Mobile App, on-line via the website or visit the nearest Capitec branch.
• One can get credit insurance in loans longer than 6 months. This covers one during death and recession.