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How to Apply for your Capitec Bank Education Loan
Capitec Bank’s education loan covers up to R500,000, easing the burden of educational expenses for South African-registered institutions. The advantage is that you only pay for what you use.
Capitec Bank Education Loan simulation
Capitec Education Loan is customizable based on credit needs and personal profiles. You can apply for this loan online and they will send you how much you can borrow, and how much will be your interest rate along with other fees.
Prerequisites
This loan can only be used in primary school, high school, online courses, university, and technical vocational education and training colleges. The institution must be a South African-registered institution.
To apply, you must be 18 years of age or older and in possession of a valid South African ID card. The credit assessment will be based on our credit granting rules and your personal credit profile and affordability.
In addition, you may also need to provide certain documents:
- Valid SA ID card/smart card;
- Last 3 consecutive payslips;
- Bank statement showing your last 3 consecutive salary deposits (especially if your salary is not paid into your Capitec account).
Although proof of your residential address is not required, you may be asked to provide additional documents to complete your application.
About the Capitec Bank
Capitec Bank was established in 2001 by Jannie Mouton, Michiel Le Roux, and Riaan Stassen. In the next year, it was listed on the JSE.
As of 2024, Capitec Bank has 860 branches with 15451 employees. This bank is currently serving its 20 million active clients. Mastercard and Visa are its international payments partners.
Step by step to take out the loan
The application process is simple for this loan. You can apply online or visit any branch nearest to you. In simple 3 easy steps, you can apply for this loan.
- The purpose of taking this loan;
- Submit the necessary information about you;
- Confirm your identity.
After that, you will get a personalized loan offer that suits you the best.
Positives and negatives of the loan
The positive sides of this loan are:
- Serves the most necessary educational purpose;
- You can borrow up to R500 000;
- You will get up to a term of 84 months for repayment;
- This interest rate is customizable and prime;
- Easy to apply.
The negative sides of this loan are:
- For textbook purchases, it must appear on the invoice from the institution;
- Extra documents may be requested to complete the application, increasing bureaucracy.
What other types of loans does the bank offer?
Besides education loans, Capitec Bank has a variety of loans to offer for personal and business. Those are:
- Personal Loan: Capitec personal loan is a simple way to get credit up to R500 000 for personal needs. This loan will be approved within minutes and you will get access to the money immediately.
- Home Loan: Capitec Home Loans comes up with a credit solution if you want to buy your first home or switch your existing home. You will get access to credit in 4 easy simple steps. A competitive interest rate depending on your profile, up to 50% off bond attorney fees, flexible repayment terms, and expert assistance make this loan market-leading.
- Vehicle Loan: You can borrow up to R500000 to purchase any vehicle you want. The loan has a prime interest rate and it comes with a repayment term of up to 84 months. WeBuyCars, The Car Place, and MotoData are Capitec’s vehicle partners. Browse your favorite car and apply for credit. This unsecured loan lets you be the owner from the first day.
- Medical Loan: Capitec medical loans are a flexible way to settle medical expenses, surgery fees, therapy charges, or hospital bills. It allows you to take a maximum of R500 000 credit to meet ongoing medical needs.
Fees & fees
Capitec Education Loan comes with a prime interest rate. This loan is customized to your profile and credit needs. So, once you apply for this loan, it will give you the estimated credit that you are eligible to take along with the fee you will need to pay.
Customer service
For personal banking solutions, they are available at 0860102043, and for business banking call them at 0860309250 or WhatsApp them at 067 418 9565.
Capitec Bank has separated personal and business banking customer service to ensure quality service.
For personal banking:
Client care center:
- Call them 24/7 at 0860 10 20 43;
- WhatsApp at 067 418 9565;
- email at [email protected];
- fax them at +27 21 941 0770.
To apply for personal banking credit:
- Call them at 0860 66 77 89;
- To get help with your credit repayments: WhatsApp them at 072 822 1582, or send an SMS with your SA ID or foreign passport number to 30679;
- Directly call them at 0860 66 77 18.
Lost or Stolen card complaints or to stop your card’s activities:
- Contact them on WhatsApp at 067 418 9565;
- Message them “Hello”;
- Tapt ‘Main Menu’ and select the Self-service;
- Click on the ‘Options’ button and select the ‘Stop Card option’;
- From the ‘Card List’ select which card you would like to stop.
For Business Banking
For general queries:
- 24/7 available at 0113 02 04 00 or 0860 30 92 50;
- The business banking relationship suite contact no is 0860 30 92 50, available from Monday – to Friday from 6:30 am to 7 pm and on Saturdays from 8 am to 12 pm;
- Email them at [email protected].
Capitec Bank is headquartered at 5 Neutron Rd, Techno Park, Stellenbosch, 7600, South Africa. Capitec has branches nationwide. Find the Capitec branches near you.
App
Capitec Bank is a digitized bank. Banking activities are available 24/7 with online banking and mobile apps. It has two different apps for personal and business uses. Apps are available in Apple Store, Play Store, and Huawei App Gallery. You can also download personal banking and business banking apps from their website.
