Although Capitec home loans are not actually available, anyone who is a client of this bank may apply for personal finance of up to R120 000. The terms of the loans range from one month to sixty months; obviously the longer the term the more interest you end up paying back, so the shorter the term you choose, the better. Should you apply for a loan at Capitec, you will be happy to know that you are also granted access to some of the lowest cost transactions in the country as well as extremely competitive interest rates. You can visit your nearest branch to determine how much of a loan you qualify for, or you can make use of their online features to determine this if you have the time.
There are many benefits to banking with Capitec, and even though it is not home loans that may draw you to this bank, it could be the fact that should your loan be approved, your cash will be available within minutes. Also, if you have your salary paid into your Capitec account, you immediately qualify to get lower interest rates on loans. Another reason why getting credit with this bank is better than any other is because you can get credit life insurance for free on loans that you have taken out on a term of six months or longer.
Also, should you become retrenched while paying back your loan installments; you will receive cover on your loan if it was taken out on terms of twelve months or longer. However, only two loans will be covered this way, providing that each loan does not exceed the amount of R18 000 and only if you were retrenched at least three months after the loan was granted. Even though a mortgage may not be not on the cards, personal loans are available at Capitec Bank branches and they are easy to obtain and reasonably priced to pay back.