Capitec Student Loans Interest Rate

What is the Capitec student loans interest rate? That’s a question that a lot of people have been asking. Capitec has grown over the past few years to become South Africa’s biggest bank by customer number. If you are one of the people who use this bank, you may be looking to take out a student loan to help you as you carry out your studies. We have previously written an article detailing the items that are covered by a Capitec student loan. In this article, we will look at the interest rates that you can expect when you take out such a loan.

What is the interest rate on a Capitec student loan?

The Capitec student loans interest rate is linked to the prime rate, as stipulated by the South African Reserve Bank (SARB). At the moment, the prime rate stands at 11.75%. Capitec adds a percentage to this based on affordability and your credit rating. To get the correct figure you need to get in touch with Capitec directly.

What do I need to apply?

That is the Capitec student loans interest rate. You may also be interested in finding out what you need in order to apply. Here is an article in which we talk about the Capitec student loan requirements. In summary, the following is what you need when you apply?

  • Be permanently employed
  • 18 years or older
  • Have a valid South African ID

Where can I use my education loan?

The following are some of the places where you can use your student loan;

  • Primary school
  • High school
  • Universities
  • Online courses
  • TVET Colleges

How do student loans work?

It’s important to note here that student loans are not paid out as cash. What happens is that you submit a receipt for fees, books and anything else from your university or college.

Capitec will then make a direct payment to the school. They don’t pay people the money that they are looking for as cash. If you are looking for hard cash, you will need to get a personal loan and not a student loan.


In this article, we covered the Capitec student loans interest rate. It was noted that interest rates are based on the prime rate that is set by the SARB. On top of the prime rate, they will add a percentage based on your credit history and based on affordability. To get the correct interest rate that you will have to pay, you need to get in touch with Capitec.

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