We’re doing every thing we are able to that will help you through the COVID-19 crisis. If the earnings happens to be impacted, talk to us about our credit re re payment relief and help 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’s also other credit assistance possibilities like lowering your loan instalment, creating re re payment arrangement in your loan or credit card, getting a re re re payment intend on your bank card or credit insurance that covers you against unforeseen activities or losings.

To try to get credit relief or just about any other help, choose one associated with after:

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

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

Credit relief options

Read more about our credit re re payment relief choices, 100% interest reimbursement, other credit help and credit insurance that people might be able to assist you to with below.

Credit re payment relief

Payment break in your loan

• Your loan instalment is lowered to R0 for 1 – 3 months
• According to system calculations, the word of the loan can 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 refund from the interest charged through the 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 will spend a decreased instalment for 2 – 6 months
• Your instalment will increase before you gradually return to spending your normal instalment
• You might be eligible for a 100% interest reimbursement in the interest charged throughout the very very first a couple of months once 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)

Interest reimbursement

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

How it works

• As soon as you make 6 successful loan repayments, you certainly will get a pursuit reimbursement add up to 50% of this interest charged throughout the very very first a few months. This reimbursement will be compensated straight into the loan account as a money decrease
• After an additional 6 repayments that are successful you certainly will get another 50% regarding the interest charged through the very first three months
• The attention reimbursement is valid for repayments made 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 payment that is 3-month on your loan during March 2020
• Loan balance: R100 000
• Interest: 18%
• Instalments staying: 36
• Interest determined over 3-month re payment break: R4 568
• After 6 effective loan repayments (June – November 2020): A 50% interest reimbursement of R2 284 is compensated to your 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 might 2021
• The total interest reimbursement = R4 568 and as a consequence you paid zero interest throughout the payment break that is 3-month

Other credit support

Cutting your loan instalment

• It is possible to reschedule your loan to cut back your staying instalments by extending the definition of of the loan. This can boost your cost that is total of as interest will now be compensated over an extended term
• You may also reschedule your loan to pay for a greater shorten and instalment the definition of of the loan. This can lower your cost that is total of as interest will now be compensated over a faster term

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

• Available on all loans or charge cards being in arrears
• As well as your normal instalment quantity, it is possible to organize to cover the complete quantity in arrears on/before the next payment date
• Or perhaps you can organize to cover your arrears down in 2 – 6 repayments with your instalment in your payment per month date
• Your credit profile status will stay in arrears before the complete arrears quantity is paid back

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

• You are going to spend a set quantity each month that’ll be less than your current minimum that is monthly due
• A re re payment plan ranges between 3 – 12 months
• Once your application is prosperous, your monthly minimum payment due is replaced utilizing the agreed https://www.installmentpersonalloans.org/ instalment for the duration of the re re payment plan

Credit insurance coverage

• The objective of insurance coverage would be to protect you against unforeseen activities or losings. Protection plans is compulsory for credit loan regards to 7 months and much longer
• Your charge card contract could add credit insurance policy, please relate to your contract to learn more
• Our credit insurance is targeted at addressing a credit payment responsibility if you are struggling to pay your instalment as a total result of death or disability, in addition to specific circumstances for which you have actually lost your revenue like:
  • Death – full amount that is outstanding 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: complete outstanding stability as at date you may be notified of the retrenchment
  • Jobless (as a result of circumstances away from control) or retrenchment (involuntary) – credit agreements including credit insurance coverage and had been provided after 10 May 2020: at the most a couple of years’ instalments, or the remaining term regarding the loan, or credit through to the customer discovers work once more whichever may be the quickest
  • Permanent impairment – full amount that is outstanding at date of disability
  • 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 permanently maybe not making money, perhaps you are covered.