Temporary loans at Capitec Bank are available to apply for in South Africa. You can choose the amount you want to borrow. As well as monthly installments that suit your budget.
Capitec bank term loans can help you out of a very sticky situation. You may have a house you want to pay off, buy car parts, purchase a vehicle or study.
Whatever the reason is for you wanting to borrow money doesn’t matter. As long as you know that the repayments will not be a problem.
How to Apply for a Temporary Loan at Capitec Bank
The finance might be for personal reasons. Either way you can apply from the following options:
- At the nearest Capitec branch
- Via the Capitec Banking App
- Phone call or SMS
You have to have an account in order for you to apply for finance and you must also have a good credit record with no history of bad payments.
Capitec Temporary Loans get Approval Based on the Following Criteria:
- Your credit profile (If you are blacklisted you will struggle to qualify for a loan at Capitec Bank)
- Your expenses as well as your income
- The amount of the loan you wish to borrow
- Your banking history
If you apply for a temporary Capitec loan and you are blacklisted in South Africa you will be unsuccessful. Blacklisted loans from Capitec Bank are not available.
The major banks in South Africa have to adhere to strict lending rules. So Capitec loans for a person with bad credit are difficult to qualify for.
When you have interest in the Capitec bank loans on offer, you should know that you can choose between 1, 3, 6, 12, 18, 24, 36 and 48 months in which you would like to pay the money back in.
It may sound nice to make your repayments 48 months, but then remember that you will be paying back more interest on that borrowed cash.
Before you get an application for finance, you have to make sure your credit record is positive. Before you attempt to borrow money for personal reasons.
Benefits of Temporary Loans at Capitec
You can borrow temporary loan amounts of up to R250 000 from Capitec if you qualify for that much. And the ideal thing about borrowing from them is that in many cases the cash is available immediately.
You don’t have to wait seven working days for your application to be processed and there is no paperwork.
This South African bank is definitely a decent route for you to go if you are looking to borrow some cash, short or long-term. There is a lot for you to decide on. So take some time to make a decision regarding which of the loans this bank offers would be best for you. And which terms you should take it out on.