Capitec SASSA Loans – is it not interesting that many people get on the internet to look for Capitec SASSA loans. Most of people who are looking for this type of loans from Capitec are SASS beneficiaries. They see the income they get from social grant as their income.
Capitec SASSA Loans Guide
Capitec bank helps many South Africans who receive social grant from to have their monies paid out through its facilities across the country. These grants are paid out by the South African Social Security Agency (SASSA) to all recipients who qualify. The bank is able to assist recipients with loans if they follow the application process. These are called Capitec SASSA loans.
The type of loans offered by Capitec to SASSA beneficiaries are short-term loans. Capitec understands that those who receive grants may want to put more cash in their pockets and that their grant might not be sufficient. These loans are there to help them achieve that.
Capitec SASSA Loans Online Application
Like we said these type of loans are made available to beneficiaries of SASSA grants who receive their money every month. Here is what you need in order to apply for the loan:
- Be a SASSA grant recipient
- Be a South African
- Have your grant paid into your Capitec bank account
- Application must be done online
- Apply using Capitec APP
- Go to your nearest Capitec branch
Capitec SASSA Loan Application Requirements
If you wish to apply for Capitec SASSA loans you must meet all requirements stated above. The bank may change these requirements from time to time so it is advisable that you visit your nearest Capitec branch for more requirements. Over and above being a SASSA beneficiary, you must have an active Capitec bank account. Loans are only extended to South African citizens who have a South African valid identity document.
What Is Capitec SASSA Loan and How To Apply?
As said above, people performing this search on the internet are those presently receiving grants from SASSA. SASSA grants are old persons, child grant, disability grant and SASSA R350 SRD. This product is for people who are receiving monthly income from the agency. They are made available to individuals with SASSA account.
People who searched the internet for Capitec SASSA loans also looked for the following:
- sassa loans for pensioners
- sassa loans for child grant
- sassa micro loans
- boxer sassa loans
- moneyline sassa loans
- net1 sassa loans
- sassa loan via cellphone
How Much Interest Is Charged On Capitec SASSA Loan?
Like any other loans, there will be some interest that gets charged by the bank when you take this type of a loan. You must be informed of the percentage before you sign. If the bank does not inform you, we encourage you to ask for the interest rate on your loan.
When you take a loan from any bank, it is considered as secured in that the bank operates under the guidance of the National Credit Regulator (NCR). All institutions that offer loans and are registered with NCR are required to act in a manner that promotes responsible lending. This means that the interest charged on your Capitec SASSA loans is regulated to some degree.
There will sur be changes on the interest if you fail to honour your monthly repayment. Charges on your loan may increase as a result of skipping your payments.
What Are The Benefits of Capitec SASSA Loans?
- You will put more cash in your pocket
- Accessible by simply visiting your nearest Capitec branch
- Capitec bank branches are in every city and town in South Africa
- Application process straight forward
- Low interest rate charged on your loan
If you fail to honour the loan agreement you will have your name blacklisted. This is how most people end up with a bad credit record in South Africa. This makes it difficult to ever receive similar assistance from other lenders. Bank in South Africa do not help anyone with a bad credit record.