Capitec Bank Home Loan

Capitec Bank Home Loan

Capitec Bank Home Loan

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Capitec Bank is now offering home Loans in conjunction with SA Home Loans, Click Here to Apply for your own. Capitec Bank home loan up to 20 years bond.

Capitec Bank Home Loan

Capitec Bank has concluded a co-operation agreement with SA Home Loans to pilot the introduction of home loans throughout branches in Gauteng for a period and thereafter in the rest of the country, where ever SA Home Loans has the necessary support infrastructure.

Capitec Bank Home Loan

Capitec Bank is now offering home Loans in conjunction with SA Home Loans. Apply for your own NOW

Capitec CEO, Gerrie Fourie announced: “We recently embarked on the #AskWhy Campaign and the feedback from our customers was that they wanted the “Capitec simplicity approach” to home loans. In response to this, we entered into an agreement with SA Home Loans to deliver home loans to the market in the simple, efficient way that both our client service models are well-known for”.

“The offer will be piloted in 160 Capitec branches in Gauteng from the 7th of July and will be rolled out to the rest of the country in due course. Capitec’s in-branch consultants will assist with the application and initial approval process where after customers will be contacted by a dedicated SA Home Loans consultant within one business day to guide them through their full evaluation and registration process.” Fourie said.

Fourie added that Capitec Bank signed the cooperation agreement with SA Home Loans because the company had a good “cultural fit” with Capitec. Founded in 1999, SA Home Loans is a fairly young company that takes a fresh approach in the marketplace by offering a non-traditional, quick, easy, transparent and personalised service. “The core company values and customer focus of SA Home Loans aligns with that of Capitec Bank,” said Fourie.

“The fit between our Companies creates a powerful platform to broaden consumers’ access to home finance,” added Kevin Penwarden, SA Home Loans CEO.“Both companies are 21st century entrepreneurial success stories, both founded with a similar ethos: to offer SA consumers a greater choice of quality, differentiated financial services.As the smaller niche player, SA Home Loans brings a client-focused, single product expertise, whilst benefiting from Capitec’s extensive and rapidly growing distribution reach and client base”.

The product will be the same as that which is currently offered by SA Home Loans, and will be available to new bond applicants as well as Capitec clients with existing home loans who would like to benefit from switching their bond to SA Home Loans. “Whilst this boosts our product offering and brings us closer to becoming a one stop solution for clients, the agreement expands distribution for SA Home Loans through most of our over 630 branches,” Fourie said.

Fourie said the home loan offering was one of a number of innovative, simple and transparent solutions Capitec were currently developing to meet customer needs, as part of the bank’s journey towards offering a full banking product range for individuals.

Fourie also announced a partnership with Spark ATM Systems, South Africa’s premier independent ATM deployer, to roll out freestanding Capitec-branded ATMs in retail spaces across South Africa . Withdrawal fees will be the same as other Capitec ATMs, at R4,60 per withdrawal irrespective of the amount withdrawn.

Fourie said ATM and branch numbers were being expanded as this received the most queries on the Capitec Facebook page. “This year customers will see a big increase and we’ve already increased our ATMs by 364 and our branches by 69 in the past year. Many of our branches got a makeover, and we moved more of our ATMs to places where customers shop, such as malls, which are also safer. We have also increased the numbers of till points where customers can draw cash to 4 374, while keeping the cost of withdrawals low at R1.05. We are however still encouraging our customers to swipe for free or do paperless banking via our remote banking options like Internet Banking or Mobile Banking.”

1. Variable Home Loan

Here are the benefits of a variable home loan:

  • Interest rate is variable and is tailored to your risk profile.
  • Flexible term up to 20 years.
  • Switch to SA Home Loans and benefit from the Quick Cash option before registration: get up to R75 000 in cash within 72 hours (or up to R150 000 as soon as you’ve signed your bond documents) to use as you please.
  • Access surplus funds on the value of your property, through a variety of further lending options after your home loan is established.
  • Switch, free of charge and at any time, to our Interest Only product.
  • In-house insurance options available: bond protection and home owner’s cover.
  • Terms and conditions apply. All product options are subject to our credit policy as amended from time to time.

2. Interest Only Home Loan

Here are the benefits of an Interest Only home loan:

  • Flexible instalments – pay only the interest every month, or a little more – you decide.
  • Gives you the flexibility to adjust the home loan instalment to meet your cash flow needs.
  • Reduce the interest paid on your loan with:
  • Monthly instalments that includes capital, OR
  • once-off capital payments when you have funds available
  • Choose to revert to a standard instalment, which includes capital repayment, when you wish to do so (switching to our standard home loan is free of charge).
  • Full settlement is required at the end of the loan term.
  • If you hold a Variable Home loan – you can switch to this Interest Only option free of charge.
  • Access surplus funds on the value of your property, through a variety of further lending options after your home loan is established.
  • Switch, free of charge and at any time, to the variable interest structure.
  • Paperless and effortless in-house insurance options available: bond protection and home owner’s cover.
  • Terms and conditions apply. All product options are subject to our credit policy as amended from time to time.

3. Edge Home Loan

Here are the benefits of an Edge home loan:

  • Ideal for clients who want to buy ‘up’ now – knowing their income will grow to match their repayments.
  • Pay the interest only for the first 36 months – the lowest instalment possible.
  • At the end of 36 months, the loan reverts to a standard variable loan over 240 months, with all the same benefits and features.
  • No capital payments at the end of the term – your home is fully paid off.
  • You still have the flexibility of paying off capital in the first 3 years if you choose (for example, by fixed monthly debit order), reducing the capital balance and thereby saving you interest.
  • Unique in the market – no other home loan product offers these features and low initial instalments.
  • In-house insurance options available: bond protection and home owner’s cover.
  • Terms and conditions apply. All product options are subject to our credit policy as amended from time to time.

To Apply

Call 0860 2 4 6 8 10 and talk to a consultant who’ll explain the options for you.

FAQs about the Capitec cooperation agreement with SA Home Loans:

1. How do I apply for a home loan through Capitec Bank?

Talk to your Capitec branch consultant about applying for a home loan through SA Home Loans. The Capitec consultant will do a quick credit check and if you qualify, will refer you to an SA Home Loans consultant, who will contact you within one business day. A dedicated and friendly SA Home Loans consultant will assist you with your home loan application process all the way to the end, to ensure that you have a simple, easy and stress free experience acquiring your own home. The entire SA Home Loans application process has been streamlined for efficiency, allowing customers to have their bond application processed and approved within five working days.

2. How does the SA Home Loans offer fit into the current Capitec offer?

The SA Home Loans product forms part of the Capitec Bank credit offer and a credit ticket will be issued to the customer once entering a branch.

3. Which documents will the customer require?

All formal documentation will be requested by the SA Home Loans team, who will contact the customer within one business day from applying in the Capitec branch. The customer will need to indicate that they have signed an offer to purchase before the application can be processed. An offer to purchase is a written contract setting out the terms under which a buyer agrees to buy a home and is a document that is generated by the estate agent dealing with the sale.

4. Does the SA Home Loans applicant have to be a Capitec client?

No, the service will be available to any customer.

5. How will customer support work for home loan applicants?

Customers can visit a Capitec branch or contact the Capitec Client Care Centre to track the progress of their application. Existing SA Home Loan clients who wish to query their loan will need to talk to the SA Home Loans team directly.

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Contact Us

Loans Arama
75 West Road North Rd, Morningside, Sandton
Johannesburg
Gauteng 2057
South Africa (ZA)
Telephone: 011 051 5537

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