Capitec

Capitec Bank is a South African retail bank that was founded in 2001.

It started as a microfinance provider with just two branches in the Western Cape but has since grown to become the country's third-largest bank by customer numbers.

Capitec prides itself on offering affordable and accessible banking services to all South Africans, with a focus on simplicity, transparency and innovation.

The significance of Capitec’s listing on the JSE

One of Capitec's most notable achievements was its listing on the Johannesburg Stock Exchange (JSE) in 2002, just one year after its founding. This made it the first microfinance institution in the world to be listed on a stock exchange.

Capitec has continued to go from strength to strength, winning numerous awards and expanding its product offerings to include savings accounts, personal loans, insurance and digital banking services.

15 million clients later and still committed to you

Today, Capitec has over 15 million clients and more than 1,000 branches across South Africa. Despite its rapid growth, the bank remains committed to its founding principles of providing affordable banking services that empower South Africans to take control of their finances.

What makes Capitec different?

One of Capitec's most notable features is its transparent and affordable pricing model, which includes low transaction fees, competitive interest rates on savings accounts, and fixed repayments on personal loans.

Building trust through values-driven banking

• Simplicity - keeping things simple and easy to understand for its clients.
• Accessibility -  making banking services accessible to all South Africans, regardless of their income or background.
• Affordability - providing affordable banking services that are accessible to everyone.
• Innovation - continuously innovating and improving its products and services to better serve its clients.
• Transparency - being transparent with its clients about its pricing and fees.
• Accountability - taking responsibility for its actions and being accountable to its clients, shareholders, and employees.
• Empowerment - empowering its clients to take control of their finances and achieve their financial goals.

Capitec’s product offerings include transactional and savings accounts, personal loans, home loans, and insurance.

In addition to traditional banking products, it also provides a variety of digital banking services such as mobile banking, online banking, and a banking app that allows you to access your accounts from anywhere, at any time.

Capitec’s Multi Loan option for short-term needs

Capitec's quick loan options include the Multi Loan, which is a credit facility that allows clients to borrow up to R8 000 over a period of 1 to 6 months.

The loan is available if you meet the bank's credit requirements, and the application process is quick and easy, with same-day approval and payout.

In addition to the Multi Loan, they also offer a regular personal loan of up to R250k that you can use for a variety of purposes, such as consolidating debt or making a large purchase.

You can borrow up to R250 000 over 1 to 84 months, with fixed monthly repayments and competitive interest rates.

Low-interest rates adjusted for your credit profile

When you need to borrow money quickly, Capitec Bank offers you competitive interest rates on their quick loans, making them an affordable option. Its interest rates are personalised based on your creditworthiness, using its unique credit-scoring model that considers your credit history, income, and expenses.

You'll receive a fixed interest rate for the duration of your quick loan term, ensuring you have a clear understanding of the total cost of borrowing upfront. Capitec's quick loans have transparent fees, which are included in your monthly repayment amount.

Capitec's quick loans provide you with a cost-effective solution that you can access easily and quickly. Before taking out a quick loan, it's important to consider the total cost of borrowing, including interest and fees, and ensure that you can comfortably afford the monthly repayments.

Capitec's quick loans: borrow with confidence

• Easy to access with same-day approval and payout
• Flexible repayment terms with fixed monthly repayments
• Affordable interest rates and transparent fees
• No collateral required
• Wide range of loan amounts
• Quick access to funds