A Capitec Bank Multi Loan is a monthly loan designed for daily needs or emergencies, reviewed every 12 months at a branch. You can get any amount up to R100 000 with a free credit life insurance on those between 6 to 48 months. Furthermore the cash is available immediately after approval. If you are a client of this Bank and your salary is deposited here you can qualify for lower interest rates. If you pay on a monthly basis you can qualify for 1 – 48 month loans and those on a weekly basis for 1 – 12 month ones.
- Interest and fees are only charged on the funds that you advance. So if you are approved for a R3000 Multi Loan and you advance R500 while out on the town, you will only pay interest and fees on the R500. Clients can use their Capitec Global One cards to draw the cash at retailers or ATMs, or swipe their card at retailers to make card purchases. Remember, clients pay ZERO FEES for debit card purchases.
- Your Capitec Bank Multi Loan is repayable each month. This means that anything you use (i.e. the advance) must be settled at the end of the month.
- Transfer money to your transaction/savings account using our ATMs, Mobile Banking or Internet Banking
- Interest and fees only charged on money transferred
- Repayable in full each month