Capitec is one of South Africa’s fastest rising commercial banks. Established in 2001, this bank operates as a retail bank that serves both individuals and businesses but does not provide business banking for close corporations, companies, partnerships or trusts. With over 500 retail branches nationwide and over 3.7 million customers, it is not surprising that this reputable bank decided to start offering clients home loans.
Capitec home loans
These loans are offered from a minimum amount of R100,000 to a maximum amount of R5 million with repayment periods of over 240 months, this credit is based on a clients credit profile and affordability and special deals are available for qualifying government employees and approval is guaranteed within 5 working days after all your documents have been provided. Factors which may influence the application include monthly income or joint income and expenses and a deposit that can be up to 15% of the home loan amount.
Clients can visit any Capitec branch and speak with a consultant with a verbal confirmation of a signed offer to purchase, be 18-60 years old and not be under debt counselling. In order to complete the application, there are certain needed documents such as copy of signed offer to purchase, ID document, if its joint home loans both applicants IDs are needed, copy of marriage certificate or antenuptial contract, 3 months salary slips and 3 month bank statements.