Have you been looking for credit relief or help?

We’re doing every thing we could to allow you to throughout the COVID-19 crisis. When your earnings happens to be 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.

Additionally there are other credit help possibilities like cutting your loan instalment, making re re payment arrangement on the loan or credit card, organizing payment intend on your bank card or credit insurance that covers you against unexpected activities or losings.

To try to get credit relief or just about any other support, select one of several after:

1. SMS your ID that is 13-digit number 30679 and stick to the prompts
2. E-mail CentralisedCollections@capitecbank.co.za together with your loan account quantity into the topic line
3. Contact us on 0860 66 77 18 for starters of y our agents to work with you
4. Check out your nearest branch

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

Credit relief options

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

Credit re re payment relief

Payment break in your loan

• Your loan instalment is lowered to R0 for 1 – 3 months
• Predicated on system calculations, the expression of your loan can be extended to guarantee you continue steadily to pay an inexpensive instalment following the payment break that is 3-month
• You can be eligible for 100% interest reimbursement in the interest charged throughout the very first a couple of months as soon as you begin making loan that is consistent again (valid until 19 July 2020 and only applies to payment breaks or rescheduling taken up between 26 March– 19 July 2020 – see Interest reimbursement below to learn more)

Rescheduling your loan

• You are going to spend a lowered instalment for 2 – 6 months
• Your instalment will slowly increase before you return to spending your normal instalment
• You can be eligible for 100% interest refund regarding the interest charged throughout the very very very first three months as soon as you begin making consistent loan repayments once 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)

Interest reimbursement

Whilst you may spend a decreased or no instalment throughout the re re payment break or rescheduling, interest nevertheless applies this means your cost that is total of will increase. To simply help with this, we have been offering a 100% interest refund in the interest charged during the very first a couple of months to customers whom opted set for a repayment break or rescheduling between 26 March– 19 2020 july.

How it operates

• When you make 6 effective loan repayments, you may receive a pursuit reimbursement corresponding to 50% for the interest charged throughout the very first a few months. This reimbursement will directly be paid into the loan account as a money decrease
• After an additional 6 repayments that are successful you are going to get another 50% regarding the interest charged through the very very first a few months
• The attention reimbursement is legitimate for repayments comprised to until 31 July 2021 and only applies to payment breaks or rescheduling taken up between 26 March– 19 July 2020

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

Other credit help

Lowering your loan instalment

• It is possible to reschedule your loan to cut back your staying instalments by expanding the expression of your loan. This may boost your cost that is total of as interest will now be compensated over a lengthier term
• You’ll be able to reschedule your loan to pay for a greater instalment and shorten the word of one’s loan. This may reduce your cost that is total of as interest will now be compensated more than a reduced term

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

• Available on all loans or bank cards which are in arrears
• Along with your normal instalment quantity, you are able to arrange to pay for the amount that is full arrears on/before your following re re payment date
• Or perhaps you can organize to pay for your arrears down in 2 – 6 repayments and your instalment on the payment per month date
• Your credit profile status will continue to be in arrears through to the full arrears quantity is repaid

Re Payment plan on your own bank card (only when you’re in arrears)

• You are going to pay a set quantity each month which is less than your current month-to-month minimum payment due
• A re re re payment plan can range 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 payment plan

Credit insurance coverage

• The objective of insurance coverage would be to protect you against unexpected activities or losings. Insurance policy is compulsory for credit loan regards to 7 months and much longer
• Your charge card contract could consist of credit insurance policy, please relate to your contract 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 as being outcome of death or impairment, in addition to specific situations in which you have actually lost 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 (because of circumstances away from control) or retrenchment (involuntary) – credit agreements such as credit insurance coverage and had been issued after 10 May 2020: at the most a couple of years’ instalments, or the remaining term regarding the 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

Which means that with us and you are retrenched or temporarily or permanently not earning an income, you may be covered if you have credit insurance.