Home Business Loan Capitec Bank Loans | Requirements and Online Application

Capitec Bank Loans | Requirements and Online Application

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Since its founding in 2001, Capitec Bank has served over 10 million customers. It’s astonishing how far this business has come in less than twenty years. Capitec presently has more than 800 branches in South Africa as a result of this. We think we’re putting out a compelling case here. You can absolutely turn to this bank to apply for a loan. Due to this, we will go over the application process and the standards you must fulfill in order to be approved for a loan at Capitec. We will also discuss the terms of your loan and other features of the personal loans offered by this bank.

All the top lenders in the market provide ways for customers to track the status of their loan applications online. You can simply visit the website of the lender and track your loan status with the following details: Application reference number. Mobile number.
Tracking your Personal Loan Application Offline
  1. By Visiting the Bank/NBFC Branch.
  2. Calling the Personal Loan Customer Care or Toll-Free Number.
  3. Personal Loan Application Tracking via Net Banking (For existing customers)

How Do I Apply for A Capitec Loan Online?

Capitec was able to grow its business in great part due to its commitment to providing excellent services to their customers. This is also related to how they allow their clients to reach out. As we are all different, there are different ways in which we like to get things done. Some of us prefer requesting services in person and having one-to-one conversations with our providers. And there are some other people who would rather not have to move from their houses to buy the services they need. Since Capitec is aware of these various preferences, it has established four ways in which you can ask for their loan:

  • Online: you will have to fill in an online application with your personal information and the data regarding the loan
  • In-person
  • Over the phone
  • Through Capitec App
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2 Basic Requirements to Qualify for a Personal Loan at Capitec

A lot of South Africans get super enthusiastic about Capitec personal loans because they offer convenient interest rates and loans that can be of a maximum of 250,000 Rands. Also, with this loan, you pay fixed repayments and the term can be of up to 84 months. This is a tempting offer, but before you rush yourself and start applying for this loan, you should know if you can qualify for it.

There are two requirements you will have to meet to be able to ask for a Capitec personal loan; these are:

  1. Being more than 18 years old
  2. Being permanently employed and being able to provide proof of this employment

What Documents do I Need to Apply for a Loan at Capitec Bank?

If you meet the two basic requirements we told you about, you will be able to request a personal loan at Capitec Bank. Just imagine all you can do with this loan. You can finally buy that car you’ve been thinking about for so long or start your own business. Or you can surprise your partner and invite them on a trip. You will be able to decide what to do with the money borrowed since these loans are multipurpose.

Capitec makes it pretty easy for you to apply for their loans; all you need to do is provide them with 3 documents. These are:

  1. Your South African ID
  2. Last payslip
  3. Most recent bank statement proving that you’ve deposited three consecutive salaries in your account

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How Many Loans Do I Qualify for At Capitec Bank?

We already told you that the maximum amount of money that Capitec Bank borrows on personal loans is 250,000 rands. However, this does not necessarily mean that you will be able to borrow this amount. The reason behind this is that after you provide Capitec with your payslip and all the other documents, the bank will study your affordability. After this investigation, Capitec will let you know the amount of money you can safely apply for based on your income and your credit history.

How to Use Capitec Personal Loan Calculator?

We strongly advise you that after you’ve determined you qualify for a personal loan at Capitec, you use the Capitec loan calculator. This is called a credit estimator at this bank and is an online application where you will be able to simulate your loan. What information will you get? You will find out how much money you would have to pay in repayments every month. Please notice that since this is an estimator, all the information you receive will be in approximate terms. You will get the actual numbers once your loan is approved by the bank. Remember that installments will vary on the basis of interest rates and you will only be able to know what interest rate will be applied on your loan after Capitec runs affordability research on you.

  1. Dial *120*3279#
  2. Select 2.Bal Enquiry.
  3. See your available balance.

Is it Possible to ask for a Capitec Loan without a Payslip?

We are well aware that not all workers share the same conditions. There are many people who work on their own or even some that are employed but do not receive any kind of certification of their salary. Unfortunately, it will not be possible for these individuals to ask for a quick and easy loan at Capitec. This leaves freelancers and sole traders, for instance, out of this amazing loan.

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If this should be your case, we encourage taking a look at our articles. There you will find information about the alternatives available for you. You will learn about loans and companies that offer loans to people without payslips. You will find these articles on our main page under the title of Loans per Type. Furthermore, if you have a question or if you need guidance, you are welcome to leave us a message at the bottom of this page, and we will do our absolute best to help you out.

How long does Capitec Take to Approve a Loan?

Once you apply for a loan at Capitec and provide this company with the three documents we described above, Capitec will start evaluating your information and assessing if it is safe for you and them to be given this loan. At this time, Capitec will also consider what interest rate they can offer you. All of this may take the bank a whole week. However, bear in mind that this term might be shorter or longer depending on your specific situation.

We have briefly described the personal loan that you can request at Capitec. For this, we’ve reviewed what requirements you need to fulfill and how to submit your application. We told you how to use Capitec’s online loan calculator and how to find out how much money you will be able to borrow. 

Hi there, you need to request a settlement letter from the branch or Client Care on 0860102043. you may contact our Collections team on 0860667718 for a settlement quote or visit your nearest branch for assistance.

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