How to Use the Capitec Loan Repayment Table

How to Use the Capitec Loan Repayment Table

Capitec Bank is renowned for providing simplified banking solutions. Transparent and affordable banking services have made this bank one of the most popular in South Africa.

Established in 2001, the bank currently services over 6.2 million clients all over South Africa. The bank has a range of innovative products and services that are designed to meet individual needs.

About Capitec Loans:

Among the bank’s products and services is the Capitec Bank Multi Loans product which gives clients access to a maximum of R5000.

This short term finance solution is reviewed in-branch every year and it must be repaid in full within 30 days.

Capitec Bank Multi Loans are ideal for meeting daily needs when you are a little short on cash. As short term finance solutions Capitec Bank Multi Loans are not meant to be constant credit solutions but are meant to help you through short financial challenges.

Capitec provides clients with access of up to R250 000 in loan funds, which is higher than what most other institutions are willing to offer.

Repayment terms range from 12 to 84 months, which is much longer than the terms offered by other lenders.

There is an easy online application process where you can simply fill in an application form.

If your salary is paid directly into your Capitec Bank account, you will be charged lower interest rates.

How the Capitec Loan Repayment Table works:

The Capitec Loan Repayment table is designed to let you “know what you get, know what you pay”. Effective as of the 18th of March 2016, this table is simplifies the loan process for borrowers.

Using the table you can see how much you have loaned, your terms as well as relevant fees associated with the loan.

For instance, if you have loaned R4000 for a term of one month, you will be liable for a once-off initiation fee of R171 as well as a monthly service fee of R68.40.

Keep in mind that your actual credit amount and the credit interest rate will be based on your individual credit profile and affordability.


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