How to Apply for a Temporary Loan at Capitec (2023)

Taking loans has become an integral part of modern life in South Africa. People these days take loans for everything; they take loans to buy cars, they take loans to buy clothes, and some people even take loans to get married. Therefore, loans are part of everyday life, and as the trend continues to progress, it does not seem like there will be any change soon. 

Where do people turn to in order to get these loans that they need so badly? They turn to banks, of course, which is where the money is. Since Capitec Bank is one of the biggest banks in the country, it is no surprise that many people want to know how to get a temporary loan at Capitec Bank, which is their favorite bank.

So what answer does Capitec Bank have to give for the high demand for loans from the people of South Africa? Its the easy to get Temporary Loans. In fact, Capitec Bank offers several loan facilities for different categories of people, depending on their particular needs, and also on their ability to repay said loans. In this post we want to talk about the Temporary Loans from Capitec Bank, what they are all about, how to get them, and also the requirements involved.

What is Capitec Bank Temporary Loans?

Capitec Temporary Loans are small loans the bank gives out on a quick basis. Even though these loans are subject to credit approval, and you have to meet certain requirements to meet, in order to get the loan application approved, but the bank still ensures that the loans are released as quickly as possible. 

Just as the loans are quickly released, so are the repayments expected to be made quickly. Capitec Temporary Loans usually have a maximum tenure of 1 month, after which you are free to reapply for another loan. You can get a Capitec Temporary Loan up to R4000. The money will be paid into your account immediately after it is approved (usually within one hour), and you only have to pay for the amount you use.

Your limit will be reviewed every 12 months at the nearest Capitec branch, after which you will be advised as to how to get a loan upgrade, in order to get access to more credit facilities.  

How to Apply for a Temporary Loan at Capitec

A good place to start is to know how much you need as a loan. If you are applying for R4000 and below you can get it almost instantly. You can just visit the bank’s portal to apply online. You go online with your computer and log in, and then you navigate to loans, and then to temporary loans.

Apply Through Phone USSD *120*3279#

Dialing their shortcode *120*3279# and then following the prompts until you complete the process. Once you do this you can get the money sent to your account within a matter of minutes.

Apply Through Phone Number 0860 66 77 89

Another good option is to call Capitec Bank on 0860 66 77 89, and then request a loan from the customer care attendant. The attendant will request some personal information you, with which the loan will be processed.

Apply Through Capitech Bank App

You can also apply for Capitec Bank temporary short-term loan through the Capitec Bank app. Assuming you have downloaded the app and installed it, You just have to open the app on your mobile phone and navigate to loans. Then navigate to temporary loans and enter the amount you want.

Visit your nearest branch. When you visit your nearest Capitec Bank branch you fill out a form with which your profile is assessed. If you qualify for a bigger loan with better repayment terms, you are then advised as to what to do. If you want the temporary loan, it is expedited immediately, and you can even walk out with the cash in a matter of minutes.

Documents You Need When Applying for A Temporary Loan At Capitec

Capitec bank requires that you meet the following before a loan can be released to you.

 You must be 18 years of age or older.

 The bank must have a copy of your original identification document.

 The bank must see your latest salary slip to confirm that you are still employed, and also to confirm how much you earn.

 The bank must also see your bank statements going back three months, and showing your latest 3 consecutive salary deposits into your bank account. Please note that the bank account must be in your name.

What are the benefits of Capitec Bank Temporary Loan?

The bank allows you to determine the amount you want as the loan.

The bank allows you to repay the loan in installments that suit your pocket.

The bank offers very attractive interest rates; some of the lowest in the country.

The bank expedites payments of these loans quickly; sometimes within minutes. Other lenders would need you to wait sometimes for up to 24 hours, and sometimes more before the loan is approved.

The bank can give you this loan even if you already have existing loans with the bank. You can even consolidate all your existing loans and then pay them back in regular, fixed installments.

You have the option to add affordable credit insurance, as well as retrenchment and death cover.

What You Need to Know About Capitec Loans

Capitec bank is the second biggest bank in South Africa by customer base. One of the reasons for the bank’s rapid expansion is that it makes things easier for customers, especially with the help of technology. With Capitec Bank you can get simple short-term loans that you only need your phone to apply for. This is perhaps the easiest way of getting quick credit from a source that does not threaten to burden you with unnecessarily high fees and interest rates.

With Capitec Bank, even if you are not able to meet up with the repayment, and you already have existing loans with the bank, you can consolidate all your loans into one long-term repayment plan. You may talk to the bank on 0860 66 77 89 for more information about bank consolidation.

Related:

• How To Pay DStv Using Capitec App
• How to Reverse Payments on Capitec App
• How To Qualify For A Home Loan in South Africa

Disclaimer:

This article is written for the purpose of information only we are not affiliated with Capitec Bank, and this article is not an endorsement of the Temporary Loans or any kind of loan. Please consider your individual circumstances before taking any loans. Ensure that you are able to repay the loan before taking it because small loans can easily escalate into precarious financial troubles, affecting your credit ratings.