What are the Capitec bank loan requirements? It’s information that a lot of people have been looking for. Capitec is South Africa’s biggest bank. Yes, there are bigger banks in terms of capital, but when it comes to the number of customers, no other institution comes close to Capitec. Part of the appeal is that this bank offers friendly terms on loans. So, what do you need in order to qualify for a Capitec Bank loan and can you make the application for a loan online?
What do I need to get a Capitec loan
The following are the Capitec bank loan application requirements;
- You need to be over 18.
- Capitec requires that you provide an original South African ID from people applying for loans.
- They also require your latest pay slip.
- You also need a bank statement going back 3 months. This requirement is for those whose salaries are paid into other banks.
How much can I get?
Those are the Capitec bank loan requirements. But how much can you get when you apply for a personal loan?
The great thing is that Capitec offers loans of up to R250 000. The amount that you get is going to be different depending on how much you earn.
It will also depend on your credit history. If you have a good credit history, you will be able to get more money. The bank will also calculate your income versus your expenses.
How long will I have to repay the loan?
Capitec gives people who get their loans up to 84 months in which to make their repayments. That’s up to 7 years. So, this is great in that you won’t have to make huge payments each month to cover the loan.
How can I apply for a Capitec loan?
Having looked at the Capitec bank loan requirements, it’s time to see how you can apply for such a loan. The great thing is that you can apply for a Capitec loan online via internet banking.
You can also apply for a loan using the Capitec bank app. That makes it great because it’s very easy to lodge your application and it can be approved in a matter or minutes.
You may also be interested in the Capitec student loan requirements