After Covid-19 almost every country and its citizens have seen the hype of inflation. In such a time of financial crises, one should not be burdening his small salary with the university fees because a Capitec student loan can help you throughout your university session. If you are afraid of long-duration policies with high-interest rates, then look no further than the Capitec student loan.
I have wasted two years in getting scholarships but after a considerable amount of time, I came to know that the educational institutes reward a bunch of people. Therefore, I applied for the Capitec student loan and it helped me in the days of crises. Now I have done my master’s and advise other students to stop searching for short ways, go, request a Capitec student loan, and ease their life.
Capitec Student Loans
Whenever I recollect the past days of education, a clear image of my biggest support comes to my mind which is the Capitec student loan policy. It not only assisted me but also made my future brighter than my imagination. Flexible returning installments and lower interest rates fascinated me and my seniors to get a loan policy. I can confirm, throughout my educational days, I had no stress about paying the fee instead Capitec student loan policy paid my dues on time.
The government of South Africa wants to ensure that every adult in the country should have at least a graduate or master’s degree. It has launched the Capitec student loans policy in which the Capitec bank offers students to pay their dues, purchase textbooks, and afford educational expenses. But you should also know that the offer is limited to particular regions.
- Boston City Campus
- Milpark Education
All you need is to confirm which region you would like to begin the journey of your higher education. Basically, providing loans to specific institutes is not about being biased, but the Capitec Bank has a few policies regarding the security of their loan repayment. That’s why it offers admission to one of the best institutes in Capetown and all around the country.
How Much Do I Need To Pay Back?
After determining which institute suits you the next question that will pop up in your mind is “ How much do I need to pay back to the bank”. It is good you are thinking about paying back means you own the responsibility. So, the loan is based on the policy of need-based loans. In simple words, the bank does not require you to pay a similar amount to casual bank loans. Instead, you will pay back less.
Interestingly, the bank allows you to pay a little plus the repayment duration is more than one can imagine. If you are taking R250,00, you can pay this huge amount in 84 months. Yes, it is more than expected, so I will tell you how you can apply for the loan before they distribute all their money.
How To Apply For Capitec Student Loans?
It is the hard core question and the third thought popped up in your mind. Well, I have a simple way to do this task.
- First, I will advise you to visit the nearest branch of the bank. In this way, you will understand all the basics and they will answer all your personal questions related to loans and education with peace. Also, they will tell you whether you are eligible or not.
- On the other hand, if you are not in the mood for a walk, you can go to the official website of Capitec and search for their Capitec student loans policy.
- Then, they will ask you to fill out an online form with 4 steps so they can understand whether you are eligible for the loan or not.
- Furthermore, if you are eligible, the Capitec bank consultant will make contact with you within 48 hours.
- The person will guide them all about their loan policy, how their system works, the installments, and the repayment duration.
- If you are eligible and agree with the consultant, provide all the documents, the Capitec bank will not provide all the amount in your hands. In contrast, it will send the payment to the university bank account.
You should also know that visiting a branch is for gathering information, no student can apply from the branch but get as much information as he wants. Therefore, keep in mind, if you are visiting the branch, you should note each and everything. Now let me tell you which documents you require to apply for a Capitec student loan.
Essential Documents You Need
Unlike other banks, Capitec Bank is lenient in terms of providing loans. It does not believe in verifying house documents to the ID and all the papers. Instead, you have to fulfill a few requirements and you have done with the application. Here you can see what you need for applying for the Capitec student loan.
- The partner institute invoice ( beware the invoice is not older than 30 days).
- Three continuous salary deposits bank statements.
- The original and verified ID of South Africa.
- The applicant must be 18 years old.
- Additional documents will be demanded if the bank requires further investigation.
I guarantee you have all these documents so you are eligible to apply for the Capitec student loan. Capitec bank cares for your future that’s why it does not have strict rules plus it trusts in its applicants. Therefore, you should apply if you fall in the category qualifiers. Wait! I will tell you the significant points, so you can understand whether you qualify or not.
Do I Qualify For The Capitec Student Loans?
- You must have a non-objectionable credit history.
- You or the sponsor must have permanent employment status.
- Verified invoice from partner institute.
I am leaving a note for your safety. In my opinion, faking the identification number or tricking the bank is the most stupid action one can commit. There is no way one can trap the Capitec bank to provide accurate information.
Plus, if you commit any action which is against the security policies of the bank, you may face a tough trial and jail for a long duration. Therefore, provide the original information and do not trick the bank, otherwise, there will be unbearable consequences.
The Capitec student loan is a blessing for the students, now, they can study without worrying about their dues. If you are skeptical or afraid of the loan, I assure you that I graduated on the basis of the Capitec student loan. I will advise every student who cannot afford their dues with tuition fees, textbook expenses, and university expenditures, to go and apply for the Capitec student loan.
First, the bank is a partner of well-known educational institutes, second, it has soft policies for repayment. Anyway, I have explained all the procedures, how the Capitec bank works, how to apply for the loan, what documents you need to apply for, and the criteria of qualification for a loan. In my opinion, you should apply without wasting any seconds so you can book a seat at the university. I hope this information helps you, thank you!