A Capitec loan is a type of payday loan or emergency loan that gives the applicant funds to sort out the arising situation. However, there are many processes that the applicant needs to pass through. Also, there are some requirements the applicant needs to meet. To get the Capitec loan, you must have earnings of about 8000 rand, as it allows you to be able to apply for the loan.
You can even take the Capitec loan without a pay slip, as all you need to do is make sure you have a business of your own. Additionally, if you already have a business, then you must register the business as an incorporated or closed corporation. However, if you have had issues with the Capitec loan application, you can call their agent to put you through. You can even apply for the Capitec loan through SMS, follow through, and you will find out all you need to know about Capitec loans.
Does Capitec Have ATM Loans?
Capitec has ATM loans, but the ATM is mainly to pay back a temporary loan this time around. You can use the Capitec ATM anywhere in the world that accepts VISA cards across South Africa. If you want to settle your Capitec loan, all you need to do is contact our collections team for a settlement quote, or you can choose to visit the branch office close to you for help.
How Much Must You Earn To Qualify For a Loan at Capitec?
There are levels that you must have reached to be able to collect a Capitec loan. You need an earning of about 8000 rand, as it is enough to give you the chance to apply, but you need to check if you meet all of the other requirements, and you should also put it at the back of your mind that you can only get a personal loan from Capitec that would work to pay for a car.
How Do I Apply For a Capitec Loan Through SMS?
Applying for a Capitec loan takes a few steps to follow. There are so many ways in which you can apply for the loan; one of those ways is through your SMS. How do I apply? It is very simple:
- Either you choose to SMS your 13-digit identification number and answer the queries being asked.
- you can choose to email the company with your loan account number in the subject line.
- Lastly, you can choose to drop a call on the number, and one of the Capitec agents will see you through your difficulties.
The individual who wants to ask for a loan should make sure their credit score is high and very good, as a credit score is an important factor that firms that lend money look for.
How Do I Know If I Qualify For The Loan?
There are so many requirements you need to meet before you should think of collecting a loan. There are different requirements for different lenders, and they are listed below.
- Credit score and history
- The income of the applicant
- Debt-to-income ratio
- Collateral
- The origination fee is another factor to consider when taking out loans.
As an applicant, you need to check out your credit score, your income, and even your debt-to-income ratio to be able to pay back the loan you borrowed in due time. Lastly, you can take a Capitec loan without a pay slip, but in the circumstance that you get income from your business or entrepreneurship, and if you have a business of your own, then it must be registered as either an incorporated or closed corporation.
