We’re doing everything we could to assist you to through the COVID-19 crisis. In case the income happens to be affected, talk to us about our credit re re re payment relief and support choices and our 100% interest reimbursement (valid until 19 July 2020).

If you’ve been impacted by a short-term lack of earnings, we might have the ability to give you credit repayment relief in the shape of a repayment break and rescheduling on your own loan. In the event that you choose set for this, you may possibly be eligible for a 100% interest reimbursement from the interest charged throughout the very first a few months of a repayment break or rescheduling taken up between 26 March– 19 July 2020.

There are other credit support possibilities like lowering your loan instalment, creating re payment arrangement in your credit or loan card, organizing a re re re payment plan on your bank card or credit insurance that covers you against unexpected activities or losses.

To try to get credit relief or every other help, 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 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. See your nearest branch

Note: Please enable as much as 48 hours for a reply 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 that individuals could possibly assist you to with below.

Credit re re payment relief

Payment break on your loan

• Your loan instalment is lowered to R0 for 1 – 3 months
• Centered on system calculations, the word of your loan could be extended to guarantee you continue steadily to pay an inexpensive instalment following the 3-month repayment break
• You can be eligible for 100% interest refund in the interest charged through the very very very first a couple of months as soon as you begin making loan that is consistent 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 diminished instalment for 2 – 6 months
• Your instalment will slowly increase before you return to having to pay your normal instalment
• You can be eligible for 100% interest reimbursement in the interest charged throughout the very first three months as soon as you begin making constant 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)

Interest reimbursement

When you may spend a decreased or no instalment throughout the re re payment break or rescheduling, interest nevertheless applies which means that your total price of credit will increase. To aid with this, our company is supplying a 100% interest refund from the interest charged through the first three months to consumers whom opted set for a repayment break or rescheduling between 26 March– 19 2020 july.

How it operates

• As soon as you make 6 successful loan repayments, you can expect to get a pastime reimbursement add up to 50% of this interest charged through the very very very first a couple of months. This reimbursement will directly be paid into the loan account as being a capital decrease
• After an additional 6 effective repayments, you can expect to get another 50% associated with the interest charged through the very first a few months
• The attention reimbursement is legitimate for repayments composed to until 31 July 2021 and only applies to cost breaks or rescheduling taken up between 26 March– 19 July 2020

• You are taking a 3-month repayment break on your loan during March 2020
• Loan balance: R100 000
• Interest: 18%
• Instalments staying: 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 loan that is successful (December 2020 – May 2021): Another 50% interest reimbursement of R2 284 is compensated into the loan account in might 2021
• The total interest reimbursement = R4 568 and so you paid zero interest through the payment break that is 3-month

Other credit support

Cutting your loan instalment

• You can easily reschedule your loan to cut back your instalments that are remaining extending the word of one’s loan. This can boost your total price of credit as interest will now be compensated over a lengthier term
• You can even reschedule your loan to cover an increased instalment and shorten the word of one’s loan. This can reduce your cost that is total of as interest will now be compensated over a smaller term

Re Payment arrangement on your 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 complete quantity in arrears on/before the next re re re payment date
• You can also organize to cover your arrears down in 2 – 6 repayments and your instalment in your payment per month date
• Your credit profile status will stay in arrears before the complete arrears amount is paid back

Re Payment plan on your own charge 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 can range between 3 – 12 months
• As soon as your application is prosperous, your monthly minimum payment due is replaced aided by the agreed instalment for the duration of the re payment plan

Credit insurance coverage

• The goal of insurance coverage is always to protect you against unexpected occasions or losses. Protection plans is compulsory for credit loan regards to 7 months and much much much longer
• Your bank card agreement could add credit protection plans, please relate to your agreement to learn more
• Our credit insurance coverage is directed at addressing a credit repayment responsibility if you are not able to spend your instalment as outcome of death or impairment, along with specific circumstances in which you have forfeit your revenue like:
  • Death – full outstanding quantity as at date of death
  • Jobless (because of circumstances away from control) or retrenchment (involuntary) – credit agreements such as credit insurance coverage and had been provided before 10 May 2020: full outstanding stability as at date you might be notified of the retrenchment
  • Unemployment (as a result of circumstances away from control) or retrenchment https://installmentpersonalloans.org/ (involuntary) – credit agreements such as credit insurance coverage and had been given after 10 May 2020: no more than a couple of years’ instalments, or the remaining term for the loan, or credit until the customer discovers work once again whichever may be the quickest
  • Permanent impairment – full outstanding amount as at date of impairment
  • Temporary impairment – no more than 12 instalments

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