Loans

How to apply for a student loan at Capitec Bank?

If you want to learn the ins and outs, the documentation, and the application process for a loan at Capitec, look at this article!

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What do I need to know?

Let Capitec help you on your journey! Source: Freepik

Higher education can be a transformative experience that will help you move toward a better future.

People at Capitec Bank are committed to assisting students in achieving their academic goals because we recognize the value of a high-quality education.

Their extensive student loan program is designed to help you if you need money to support your ambitions of going to school.

We will lead you through the simple process of applying for a student loan at Capitec Bank in this comprehensive guide. 

Also, we’ve got you covered, from comprehending eligibility standards to finishing the application.

The student loan solutions are created to meet your specific needs, whether you’re a tertiary student trying to advance your education or a parent hoping to ensure your child’s educational future.

Who can apply?

Both parents and students can apply for a student loan at Capitec Bank to help pay for school costs. The following are the eligibility requirements:

  • Students: Anyone enrolled in primary, secondary, or higher education in South Africa is eligible to apply for a student loan.
  • Parents or guardians: Parents or guardians may apply for a student loan on their child’s behalf if they want to assist their child’s educational endeavors. For full-time students who might not have a permanent job and who need parental help to get the loan, this option is extremely advantageous.
  • Employment Status: While it is permissible for students to apply, it is not necessary that they have a job. Students can select a guarantor, such as a parent or guardian, to take out the loan on their behalf through Capitec Bank.
  • Citizens of South Africa: Only residents of South Africa are eligible for student loans from Capitec Bank. Applicants for the loan must have a valid South African ID book or smart card.
  • Minimum age: At the time of application, candidates must be at least 18 years old.
  • Income Requirements: The principal applicant or guarantor must earn at least R1000.00 per month to be eligible for a student loan.

How is the application process at Capitec?

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Capitec Bank Student Loan

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Up to R500,000 in student loans!

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To help students pursuing basic, intermediate, and tertiary education, Capitec Bank has created a simple and convenient application process for student loans. Because the entire application procedure is done online, candidates can apply from the comfort of their homes or any other place with an internet connection.

Prior to beginning, candidates must acquire the required paperwork. The online application form also demands information on tuition and registration charges, both of which should be easy to find.

Applicants must provide supporting documents for verification after submitting their applications. The applicant’s creditworthiness and eligibility are then assessed by Capitec Bank based on income and credit history.

When a loan application is approved, the money is sent straight to the school to pay for things like tuition, books, technology for studying, and lodging. Borrowers can select a repayment duration of up to 84 months thanks to the loan’s flexible repayment choices.

Want to look at another option?

Make sure to look into EC Loans Student Loans as well if you want to weigh your options before choosing a lender for your student loan.

In addition to their dedication to speedy approval, they also allow you to borrow up to R120,000 in student loans! Look it up!

EC Loans Student Loan full review!

If you are in need of some financial assistance to finish your studies, check out EC Loans and if its conditions might help you!

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