Capitec Bank is a South African bank that offers a range of financial services to both retail and business customers. It was founded in 2001 by Gavin Watson and has grown rapidly since then. Capitec Bank has over 5 million customers, with branches in all nine provinces of South Africa.
Capitec Bank offers a wide range of products for personal banking, business banking, investments and insurance. The product range includes savings accounts, current accounts, home loans, credit cards, investment products such as unit trusts and life insurance policies.
In recent times Capitec bank has become one of the top banks in the country. The popularity of this bank is not something that just came out of thin air, but it was mainly because of how it handled its customers’ trust, how they continuously gave accurate information when the need arose. Moreover, they were more readily available 24/7 even.
Have you ever wondered how to apply for Capitec Bank loan? how simple it is to apply for capitec bank loan? You can apply for Capitec Bank loan in ease. There are also many other questions that must have popped into your mind like, what type of customers can get Capitec Bank loans? What is the criteria to get a Capitec Bank loan? How to repay your Capitec Bank loans. All these questions will be addressed in this article.
What is the criteria to get a Capitec Bank loan?
The loan is simple to apply for and can be approved quickly. It’s a good option if you need a small amount of money and want to repay the loan over a short period of time.
You can apply for a Capitec Bank loan online or at one of their branches.
The criteria to get a Capitec Bank loan are:
- You must be over 18 years old
- You must be employed
- You must have a South African ID book or passport
- You must be in full-time employment with an income of at least R5000 per month.
Can Capitec Bank Grant me a Loan once I request?
The answer is yes, but you need to follow the right steps. Here are the things that you should do in order to get a loan from Capitec Bank:
Check your credit score before applying
Make sure that you have a good credit score before applying for a loan. Your credit score will determine whether or not you qualify for a loan and how much money you will be able to borrow from the bank.
Apply for an overdraft account if necessary
You can apply for an overdraft account at any time during application or even after being approved for your loan. This will only allow you to use up to 80% of your available balance in your current account as an overdraft facility with no interest charged on overdrawn amounts (subject to conditions). This means that if there are insufficient funds available in your current account, any transactions above this limit will be declined and returned unpaid. Please note that an overpayment fee may apply if there are insufficient funds.
How To Apply For Capitec Bank loan
If you are 18 years old and a resident of South Africa, you can apply for a loan at Capitec in a number of ways.
By using online banking Visit this page on the Capitec website to find out more. Your application will be reviewed after you submit it, and if approved, money will be transferred right into your bank account.
If you have signed up for mobile banking using a mobile device, call 1203279# and follow the prompts. the Capitec mobile application:
Both Android and iOS users can download this app. You can begin an application for a loan once you log in with your credentials.
Making an application at a bank branch.