Capitec Bank Personal Cash Loans

Capitec Bank personal cash loans are offered through their Global One Facility. They claim that this facility is ideal for “daily money management, saving for the future, and applying for the credit you need right now.” In terms of the personal loans offered by Capitec Bank, you can apply for credit of up to R120,000 and you can set the terms of your loan repayment for either one month or up to 60 months depending on your needs.

Capitec Bank pride themselves on being transparent unlike other banks and for this reason, you will never enter in to an agreement with the bank that you do not fully understand. In addition to this, there will be no hidden costs when obtaining credit from the bank, which is almost unheard of in the banking sector today.

Logo for Capitec Bank South AfricaIf you are interested in the Capitec Bank personal cash loans that they have on offer, then all you have to do open a Global One facility through them. From there you can see how much credit you qualify for by filling in a simple application form either in one of the Capitec branches, or online. All personal loans offered by Capitec Bank are approved in minutes and the cash becomes available to you immediately.

What is more is that this financial service provider offers lower interest rates to consumers who open a bank account with them into which their salary is deposited. Lastly, if you get a personal loan through this bank, you will get free credit life insurance on loans with a repayment period of six months or longer.

If you are now wondering what exactly the rates and fees are that will apply to a personal loan that you take out through the Global One facility, they are as follows:

 

  • For a loan of R1000 that you plan to pay back in one month you will pay the following:
    • Monthly repayment: R1155
    • Initiation fee: R124
    • You do not qualify for free credit life insurance
    • Overall repayment: R1155

 

  • For a loan amount of R2000 with a repayment period of 3 months then you will pay the following:
    • Monthly repayment: R874
    • Initiation fee: R285
    • Monthly fee: R34.20
    • Total repayment: R2622

 

  • For a loan amount of R3000 with a repayment period of 6 months then you will pay the following:
    • Monthly repayment: R399
    • Initiation fee: R399
    • Monthly fee: R34.20
    • Total repayment: R4227
    • You also qualify for free credit life insurance

 

If you are looking for a personal loan that is a little more substantial, the highest amount that you can apply for is R120,000. Should you apply for a loan of this amount over a period of 60 months, then you will pay the following:

 

    • Monthly repayment: R3451
    • Initiation fee: R1140
    • Monthly fee: R57
    • You apply for free credit life insurance
    • Total repayment: R 207 069

 

So if you are looking for a personal loan that offers you a great interest rate as well as a host of other free services such as credit life insurance, paperless banking, transparent pricing and much more, then you should consult your nearest branch or the Capitec Bank online portal today.

What is convenient, is that if you visit the online portal, you can apply online for credit and they will get back you with within minutes on the approval or denial of your loan. It really is that simple and easy to get credit for all your needs. What is more is that by opening a Global One account, you are entitled to a host of other savings so why not enquire about it today.