What are the Capitec student loan requirements? In this post, we are going to show you how you can easily apply for a student loan at Capitec. This is information that a lot of people in South Africa are looking for. You are here probably because you are a student at one of the country’s tertiary institutions. In that case, you may be eligible to get a loan to help you with your studies. But what do you need to do to be able to get one?
What do I need to get a student loan from Capitec
The following are the Capitec student loan requirements;
- First of all, you need to be over 18 to get a student loan at Capitec.
- You need to have a valid South African national ID.
- Another requirement is that you should be formally employed. You are required to provide pay slips going back 3 months.
- A bank statement going back 3 months is also required. This should show salary deposits into your account.
- You should provide a quote or invoice from the education institution that’s no more than 30 days old.
How do I apply for a Capitec student loan?
Those are the Capitec student loan requirements. But how do you apply for a loan? Capitec has a number of education institutions with which it partners. You can apply online using the institution’s link.
How much can you get?
Capitec is one of the financial institutions in the country offering financing for further education. But who is this facility for? Who are these Capitec student loan requirements for?
Well, they are mostly for people who are already employed who are looking to further their educations. That’s a great thing to do. Education is the biggest investment that you could ever make.
Everything else may fall by the wayside, but as long as you are alive, your education qualifications will remain a major assert. But how much can you get as a student loan from Capitec?
You can get up to R250 000 in credit to cover your needs. This money will have to be paid within 84 months. That’s a total of 7 years. So, you will have more than enough time in which to make your repayments.
You can also apply for National Student Financial Aid Scheme (NSFAS)
Student loans from banks such as Capitec are mainly for already employed people. If you are unemployed and in need of a loan to help you in your studies, you can apply for NSFAS.
This is a government initiative to fund higher education in the country. If you are at one of the country’s public universities, then you qualify to get this loan. NSFAS loans have the advantage of having low interest rates.