We’re doing every thing we could that will help you through the COVID-19 crisis. When your earnings was impacted, talk with us about our credit re re payment relief and support choices and our 100% interest reimbursement (valid until 19 July 2020).

We may be able to offer you credit payment relief in the form of a payment break and rescheduling on your loan if you have been affected by a temporary loss of income. You may qualify for a 100% interest refund on the interest charged during the first 3 months of a payment break or rescheduling taken up between 26 March– 19 July 2020 if you opt in for this.

There are other credit help solutions like cutting your loan instalment, creating re payment arrangement on the loan or credit card, arranging re re payment intend on your charge card or credit insurance that covers you against unexpected occasions or losings.

To utilize for credit relief or just about any support, select one of several after:

1. SMS your 13-digit ID quantity to 30679 and stick to the prompts
2. E-mail CentralisedCollections@capitecbank.co.za along with your loan account quantity when you look at the line that is subject
3. Give us a call on 0860 66 77 18 for just one of our agents to work with you
4. Check out your nearest branch

Note: Please enable as much as 48 hours for an answer to your SMS or e-mail.

Credit relief options

Read more about our credit re payment relief choices, 100% interest reimbursement, other credit support and credit insurance coverage with below that we may be able to help you.

Credit re re payment relief

Payment break on your own loan

• Your loan instalment is lowered to R0 for 1 – 3 months
• Centered on system calculations, the expression of one’s loan could be extended to guarantee you continue steadily to pay an inexpensive instalment following the payment break that is 3-month
• You might be eligible for a 100% interest reimbursement regarding the interest charged throughout the very first a few months as soon as you begin making consistent loan repayments once once again (valid until 19 July 2020 and only applies to cost breaks or rescheduling taken up between 26 March– 19 July 2020 – see Interest reimbursement below to find out more)

Rescheduling your loan

• You are going to spend a lower instalment for 2 – 6 months
• Your instalment will slowly increase before you get back to having to pay your normal instalment
• You can be eligible for 100% interest reimbursement in the interest charged through the very first three months as soon as you begin making loan that is consistent once once again (valid until 19 July 2020 and only applies to cost breaks or rescheduling taken up between 26 March– 19 July 2020 – see Interest reimbursement below to learn more)

Interest reimbursement

When you may spend a lowered or no instalment through the re payment break or rescheduling, interest still applies this means your total price of credit will increase. To aid with this, we have been providing a 100% interest reimbursement regarding the interest charged throughout the very first a few months to consumers whom opted set for a repayment break or rescheduling between 26 March– 19 July 2020.

How it functions

• As soon as you make 6 loan that is successful, you certainly will get a installment loans no credit check pursuit reimbursement add up to 50% associated with interest charged through the very very first three months. This reimbursement will be compensated straight into the loan account being a money decrease
• After an additional 6 effective repayments, you certainly will get another 50% associated with interest charged throughout the very first a few months
• The attention reimbursement is legitimate for repayments composed to until 31 2021 and only applies to payment breaks or rescheduling taken up between 26 March– 19 July 2020 july

• You are taking a 3-month repayment break on your loan during March 2020
• Loan balance: R100 000
• Rate of interest: 18%
• Instalments remaining: 36
• Interest determined over 3-month re re payment break: R4 568
• After 6 loan that is successful (June – November 2020): A 50% interest refund of R2 284 is compensated into the loan account in November 2020
• After an additional 6 effective loan repayments (December 2020 – May 2021): Another 50% interest reimbursement of R2 284 is compensated into the loan account in May 2021
• The entire interest refund = R4 568 and so you paid zero interest through the payment break that is 3-month

Other credit support

Cutting your loan instalment

• You are able to reschedule your loan to cut back your instalments that are remaining expanding the word of the loan. This may boost your total price of credit as interest will now be compensated over a lengthier term
• You may reschedule your loan to pay for a greater instalment and shorten the expression of your loan. This can lower your total cost of credit as interest will now be compensated more than a faster term

Re re Payment arrangement on the loan/credit card (only when you’re in arrears)

• Available on all loans or charge cards which can be in arrears
• As well as your normal instalment quantity, you can easily organize to pay for the complete quantity in arrears on/before your next re payment date
• You can also organize to cover your arrears down in 2 – 6 repayments and your instalment in your payment that is monthly date
• Your credit profile status will continue to be in arrears before the complete arrears quantity is paid back

Re Payment plan on your own bank card (as long as you’re in arrears)

• You will spend a set quantity each month that’ll be lower than your current minimum that is monthly due
• A re re payment plan ranges between 3 – one year
• As soon as your application is prosperous, your monthly minimum payment due is replaced because of the agreed instalment for the duration of the re re re payment plan

Credit insurance coverage

• The goal of insurance coverage would be to protect you against unexpected activities or losses. Insurance policy is compulsory for credit loan regards to 7 months and much longer
• Your bank card contract could add credit insurance policy, please relate to your agreement to learn more
• Our credit insurance coverage is geared towards addressing a credit payment responsibility if you should be not able to spend your instalment being a total results of death or impairment, also particular circumstances for which you have forfeit your earnings like:
  • Death – full amount that is outstanding at date of death
  • Jobless (as a result of circumstances away from control) or retrenchment (involuntary) – credit agreements such as credit insurance coverage and had been provided before 10 May 2020: complete outstanding stability as at date you might be notified of one’s retrenchment
  • Jobless (as a result of circumstances away from control) or retrenchment (involuntary) – credit agreements including credit insurance coverage and had been given after 10 May 2020: at the most a couple of years’ instalments, or the remaining term of this loan, or credit before the customer discovers work once more whichever may be the quickest
  • Permanent impairment – full amount that is outstanding at date of impairment
  • Temporary impairment – no more than 12 instalments

This means for those who have credit insurance coverage with us and you are clearly retrenched or temporarily or forever maybe not making earnings, you are covered.