If you are interested in getting a temporary loan at Capitec because you have an urgent need, the process is not as complex as one might think. Although, like all other credit facilities that one can access, there are some requirements that one has to meet and procedures to follow, including going to the bank, using the Capitec app, and SMS.
The bank has made provisions for different types of loans, all of which come with different types of agreements regarding things, such as the period of requirements, processes, repayment, and interest rates, among other things. Here’s a look at all that is involved in getting the bank’s temporary loan.
What is Capitec’s Temporary Loan?Â
This is a loan facility that the bank makes available for its customers based on an agreement that it will be repaid by the end of the month. It is mostly made available for customers at the beginning of the month and the end of the month; the bank will debit their accounts to cover the loan, depending on the agreement.
The basic difference between this and other loan facilities of the bank is that this is made available for customers who may need to take care of urgent needs. Thus, the processes involved in getting the loan are straightforward, and the amount required is not expected to be so much.
In general, before you get a temporary loan at Capitec, there are many features that it comes with:
- The loan term is only 1 month.
- The amount one can get with this loan can be as high as R5 000.
- It has a straightforward application process.
- The interest rate is low.
- It has a fixed repayment term.
- Quick approval within a day mostly.
- Safe and secured.
Processes To Follow To Apply For a Temporary Loan at Capitec
There are different ways that one can apply for a temporary loan at Capitec, and one can decide to go with any process, depending on which you consider convenient. Here are all the procedures:
1. Through any branch of the bank
This is a straightforward process as all one needs to do to walk into the nearest Capitec Bank branch with the necessary documents and make a request to the bank consultant. The process will be completed as soon as possible if you meet the specific requirements for the loan you are asking for.
2. On the Capitec Bank App
The Capitec Bank app is designed with so many functionalities that allow one to do many things, including securing various credit facilities and the temporary loan. This process is also easy as it allows one to get the needed loan in the comfort of one’s home.
All you need to do is download and install the app, which is available for iOS and Android users in their respective app stores. Sign in to the app and then head to the credit section, where you can proceed to request the needed loan.
3. Online via Internet Banking
If you also prefer, one can secure a temporary loan at Capitec via the bank’s internet banking platform. To do this, you will need to visit the bank’s internet banking page via this link (https://vbank.capitecbank.co.za/Web#/credit-application-information).
After this, you will need to put in your Personal Information, including things like the type of loan you need, the purpose of the loan, your employee, and other personal details. This is followed by a verification of who you are, and then you will receive a result on whether you are eligible for the requested loan.
4. Phone call
You may decide to place a call to the bank on 0860667789 to get more information on how to process and get the loan.
Whatever process you decide to use to apply for the temporary loan, the important thing to note is that it can be approved within a day, and you will have the money credited to your account without any delay.
You Can Also Apply Via SMS and USSD Codes
For those who do not have smart devices that would allow them to use the app or internet connectivity for Internet banking, you can also get the Capitec temporary loan using SMS. This process is probably the easiest among others.
All you may need to do is dial *120*3279# and then follow the credit facility prompts. Before you can use the SMS procedure to request a loan, you will need to be registered to use the above-mentioned USSD code by visiting the Capitec branch nearest to you. Another advantage you get with the code is that it allows you to carry out many other transactions, including sending money and checking your balance and buying airtime, SMS bundles, data, and making various payments.
All The Necessary Requirements For Temporary Loan At Capitec
To get the aforementioned loan from Capitec, whether you are making the application via SMS, the bank app, or even through the bank branch, there are many requirements that one must fulfill to enable you to get the loan. Things such as your ID and other personal information are already with the bank since you must be a customer to request the loan service.
The requirements you need include the following as a customer of the bank:
- You must have maintained a good Credit History.
- Must be 18 years or older
- You must have a source of income that can cover the loan.
Other Loan Facilities You Can Get From The Bank
1. Home Loan
Own the home you love with a Capitec home loan in association with SA Home Loans! Use our affordability calculator to see how much you could qualify for, then apply online in 4 easy steps. Full video: https://t.co/k91a5sWQpy #TheInsiderSA pic.twitter.com/nKqH8sk2Re
— Capitec (@CapitecBankSA) November 12, 2020
In association with SA Home Loans, you can access a loan of as high as R5 million, which can be repaid in 240 months. This loan is available for both those wishing to buy their first homes and those who may wish to change homes. Getting this loan is quite easy, and one can get a free dedicated property finance consultant. Whether you are working with the government, private organizations, or even self-employed, you can always access the loan.
2. Capitec Access Facility
With this loan facility, you can get up to R250,000, which one can access at any time after you must have first applied. The repayment of this facility is very flexible, and you only get to pay for it only when you use it. One can apply for it using the Capitec bank app.
3. Term Loan
This type of loan that you get based on personal needs must be repaid on a specified time frame, from a month to over 84 months. This loan may be as high as R250 000, and it will be repaid on fixed charges each month.
It is important to note that one’s eligibility to access any of the loans above and the temporary loan at Capitec must meet the requirements for such loans and show the capability of repaying such.
