Capitec Loan Interest Rate

last Updated on January 3, 2024

In South Africa, Capitec is a household name in Finance. For those who want to make a Capitec loan application, they might be interested in the Capitec loan interest rate.

We’ll be looking at all the interest rates for a CapitLoan Calculator Nigeria (in Naira)ec loan in South Africa based on their loan term and loan amount.

This is what you’ll learn:

• Capitec loan interest rates based on loan amounts and loan terms
• Loan amounts for Capitec loans
• How to Apply for a Capitec Loan

Capitec Loan Interest Rate

• The loan interest rate for an R25000 Loan from Capitec for a term of 12 months is 13.75% – 29.25%
• The loan interest rate for an R50000 Loan from Capitec for a term of 24 months is 13.75% – 29.25%
• The loan interest rate for an R100000 Loan from Capitec for a term of 48 months is 15.30% – 29.25%
• The loan interest rate for an R500000 Loan from Capitec for a term of 48 months is 16.25 – 24.7%

How Capitec Loans Work

• Capitec offers personal loans up to R250,000 with competitive interest rates.
• Repayment terms extend up to 84 months.
• Loans are unsecured, requiring no collateral.
• Capitec provides personalized interest rates based on your ability to repay and your credit risk.
• Online applications make the process quick and time-saving.
• Capitec’s mobile and internet banking services offer simplicity and convenience, allowing you to bank anytime, anywhere.

Capitec Loan Requirements

• Legal age of 18.
• Be a South African resident with a Government-issued South African ID
• Proof of Regular income
• Good credit rating
• Documents Required for a Capitec Loan Application
• .Proof of residence (utility bills or lease agreement).
• Declaration of regular expenses, assets, and liabilities, depending on the loan amount.

Capitec Loan Application

You can apply for a Capitec loan through the nearest branch, phone call, or the most convenient way – online. Capitec’s user-friendly online platform offers a quick and straightforward application process.

Key Takeaways

✅ Pros of Capitec Loan	❌ Cons of Capitec Loans
Flexible loan amounts up to R250,000 with	Loan approval challenges for bad credit or blacklisted individuals.
Credit insurance for unexpected events.	Interest Rates above 10%
Better budgeting with fixed monthly repayment amounts
Flexible payment terms for affordability

Read more Capitec Content:

• How to Reverse Money Using Capitec App
• What is the Capitec Branch Code
• What is the Capitec Branch Code for Johannesburg