Pursuing higher education qualifications is not always affordable. Luckily, students in need of some financial assistance can turn to Capitec Bank to fund their studies.
Details of Capitec Student Loans
Capitec is offering students a student loan to the value of R500 000 for up to 4 years of their tertiary studies.
It's important to note that Capitec only offers student loans to students at registered and accredited higher education institutions.
Unlike other loans, Capitec offers “need-based credit”, which basically means that the terms of the loan differ compared to a traditional personal loan.
Interest Rates On Capitec Student Loans
Students can get a discounted interest rate and an extended term of up to 84 months (7 years) to repay the loan.
Only once your studies are completed, will you begin repaying the loan.
As a result, students can save a drastic amount of money and pay less interest compared to other bank loans. However, the interest rate is fully based on the clients’ profiles and qualifying criteria.
Capitec also allows its clients to repay the credit for their tertiary education funds over a longer term loan, which ultimately lowers the payment installments and improves the affordability.
To apply for this student loan, you would have to do so online. Once you have been approved for the loan, Capitec will pay it directly to the tertiary institution you are registered at.
For more information and to apply, check out Capitec's website.
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- Capitec Now Offers Student Loans For Postgrad Studies
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- Here's How Capitec Student Loan Repayments Work
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