Capitec Bank has steadily begun to dominate a large portion of the financial market in South Africa since inception. With a core focus on simplifying the banking experience, Capitec has over 500 retail branches nationwide, while servicing over 3.7 million customers. Recent statistics show that Capitec is fast becoming one of the top 4 biggest banks on the African continent- even surpassing giant institutions. The bank is now ranked 18th among a list of the top 25 banks in Africa, with capital of $882 million. The bank’s products and services have provided innovative solutions for the banking market. One of these services is the Capitec Multi-Loan. This credit facility which is reviewed every 12 months at the branch, offers clients up to R4000. The money can be transferred to clients’ savings or transactions account, using Capitec Bank ATMs, internet or cellphone banking.
Ideal for paying for emergencies and unplanned expenses, Capitec Multi-Loans (which are short-term in nature) are expected to be repaid in full at the end of the month. Interest and fees are charged only on money used. An additional benefit of this loan option is the absence of a monthly service. There is however, a once-off initiation fee of R137 chargeable.
Who qualifies?
Individuals with valid South African identity documents, who can provide proof of residence and their latest payslip (as proof of employment) as well as 3 months’ bank statements are eligible to apply.
Self-employed individuals unfortunately do not meet Capitec’s application requirements.
To apply, visit your nearest Capitec branch.
Call: 0860 10 20 43.
