Capitec Bank offers personal loans with various features that make borrowing simple, flexible, and convenient:
- Loan Amount: You can borrow up to R500,000, depending on your needs and affordability.
- Flexible Repayment Terms: Repayment periods range from 12 to 84 months, giving you flexibility to manage your monthly instalments.
- Fast Approval: Your loan application is approved within minutes, and the money is available immediately.
- Personalised Interest Rates: Capitec offers interest rates from as low as 13.50%, which are personalized based on your credit profile and financial situation.
- Consolidate Debt: Capitec allows you to consolidate your existing loans into one manageable repayment.
Loan Example
For instance, if you borrow R50,000 over 48 months at an interest rate of 22%, your monthly repayment would be approximately R1,741, including service and initiation fees. However, your exact interest rate will be tailored to your credit profile, and affordability will be a factor in determining your monthly instalment.
How to Apply for a Capitec Loan
Capitec makes it easy to apply for a loan through multiple channels:
- Online Application: Visit Capitec’s website and apply from the comfort of your home.
- Capitec Banking App: Apply on the go using their user-friendly mobile app.
- Call the Helpline: You can also apply by calling Capitec at 0860 66 77 89.
- Visit a Branch: Prefer a face-to-face interaction? Walk into any Capitec branch and apply in person.
Documents You’ll Need
To apply for a loan, make sure you have the following documents ready:
- Original ID Document (you must be 18 years or older).
- Latest Salary Slip.
- Bank Statement (showing your last three salary deposits if your salary is not paid into a Capitec account).
How Loans Are Approved
Capitec uses your affordability and credit profile to assess your loan application. They consider your income, expenses, employment stability, and credit behavior. If your credit history is solid, and your employment status is stable, your chances of loan approval are high.
Capitec Loan Interest Rates
Capitec offers competitive interest rates ranging from 13.50% to 29%, depending on your loan amount and credit profile. Here’s a breakdown:
| Loan Amount (R) | Term (Months) | Interest Rate (%) | Monthly Repayment (R) | Total Repayment (R) |
|---|---|---|---|---|
| 25,000 | 12 | 13.50 – 29.00 | 2,379 – 2,600 | 28,615 – 31,272 |
| 50,000 | 24 | 13.50 – 29.00 | 2,509 – 2,956 | 60,291 – 71,018 |
| 100,000 | 48 | 13.50 – 29.00 | 2,872 – 3,868 | 137,944 – 185,737 |
| 500,000 | 84 | 16.00 – 24.50 | 10,705 – 13,996 | 899,320 – 1,175,694 |
Credit Insurance
Capitec also offers credit insurance on all personal loans, covering you in the event of retrenchment, disability, or death. One unique feature of their credit insurance is that the premium decreases over time as your loan balance reduces, making it more affordable as you pay off your loan.
Conclusion
Capitec loans offer a practical solution for personal financing needs. With personalised interest rates, fast approvals, and flexible repayment terms, Capitec’s personal loan options make borrowing simple and stress-free. You can manage your loan easily through their banking app, and the additional benefit of credit insurance offers peace of mind.
Overview of Public Universities in South Africa
Here's an overview of some public universities in South Africa, including general admissions requirements and estimated application periods. Keep in mind, specific program requirements and dates can vary significantly, so it's important to check each university's official website for the most current information.
University of Pretoria
- Admissions Requirements: National Senior Certificate with minimum scores in specific subjects related to the chosen program; for international students, equivalent qualifications.
- Application Period: Usually opens in March and closes at the end of July for most programs.
University of Cape Town
- Admissions Requirements: National Senior Certificate with pass levels required for degree study; subject-specific requirements depending on the program.
- Application Period: Application opens in April and closes at the end of July.
Stellenbosch University
- Admissions Requirements: National Senior Certificate with required marks; some programs have additional testing.
- Application Period: Opens in March and typically closes at the end of June.
University of the Witwatersrand
- Admissions Requirements: Matriculation certificate with university exemption; required scores vary by faculty.
- Application Period: Begins in March and ends on the 30th of September.
University of Johannesburg
- Admissions Requirements: Matric exemption with a minimum APS score; specific subject requirements based on the faculty.
- Application Period: Opens in April and generally closes by the 30th of September.
University of the Free State
- Admissions Requirements: National Senior Certificate with specific marks for the program applied to; additional requirements for certain courses.
- Application Period: Typically opens in April and closes at the end of August.
University of Venda
- Admissions Requirements: Completion of the National Senior Certificate with an endorsement for diploma or degree studies; specific APS scores needed.
- Application Period: Usually from May to September.
University of Fort Hare
- Admissions Requirements: National Senior Certificate with university exemption; certain programs may have specific requirements.
- Application Period: Opens around May and closes at the end of September.
University of the Western Cape
- Admissions Requirements: National Senior Certificate with specific performance levels; additional requirements for certain programs.
- Application Period: Generally from May to September.
North-West University
- Admissions Requirements: National Senior Certificate with university exemption; program-specific requirements may apply.
- Application Period: Opens in March and usually closes by the end of August.
Rhodes University
- Admissions Requirements: National Senior Certificate or equivalent; minimum academic performance in certain subjects.
- Application Period: Applications open in April and close at the end of September.
Nelson Mandela University
- Admissions Requirements: National Senior Certificate with required scores for chosen programs; portfolio or additional tests for some faculties.
- Application Period: Opens in April, with a deadline at the end of August for most programs.
Cape Peninsula University of Technology
- Admissions Requirements: National Senior Certificate with specific scores; additional requirements for certain courses.
- Application Period: Opens in May and typically closes by the end of September.
University of Limpopo
- Admissions Requirements: Senior Certificate with endorsement for diploma or degree courses; specific APS scores for different programs.
- Application Period: From April to September.
University of Zululand
- Admissions Requirements: National Senior Certificate with an endorsement for bachelor’s degree studies; specific score requirements for various programs.
- Application Period: Usually between April and November.
Central University of Technology
- Admissions Requirements: National Senior Certificate with specific scores for the chosen field of study; additional criteria for certain programs.
- Application Period: Application period generally starts in May and ends in October.
Vaal University of Technology
- Admissions Requirements: National Senior Certificate with a pass that qualifies for admission to bachelor’s degree, diploma, or higher certificate programs.
- Application Period: Typically from May to September.
Walter Sisulu University
- Admissions Requirements: National Senior Certificate with required scores for chosen programs; additional criteria for certain faculties.
- Application Period: From April to September.
This list provides a starting point for understanding the admissions landscape across South Africa's diverse higher education institutions. Given the variability in programs and requirements, it's crucial to consult each university's website for the most accurate and up-to-date information.