How to Get a Home Loan from Capitec Bank

Capitec Bank is one of the fastest-growing full-service banks in South Africa and has now introduced the Capitec Home Loan for folks looking to get a jumpstart on home buying. The Johannesburg Stock Exchange-listed bank announced that customers can get up to R5 million over a 240-month period.  

The amount and term of the loan  is based on your credit score, profile, and affordability, which are calculated during the loan initiation. The entire loan procedure is carried by the SA Home Loans which has been in the home loan game for two decades.  

Well, if you are planning to get a home in South Africa but are short of money, then don’t worry! Capitec Bank might just have the rescue plan you were looking for. Today, we will guide you through one of the best home loans available in South Africa. 


Benefits of Capitec Bank Home Loan

The Capitec Bank’s Home Loan offers its customers a number of benefits that they can take advantage of. The first being that they can offer a fairly big chunk of money for your new abode. Based on your credit score and the security you provide, among other factors, the bank can grant up to R5 million. 

Capitec Bank introduced its SA home loan service throughout the branches in Gauteng province. However, in the present day, the bank has made the service available in the rest of the country wherever SA home loans have the necessary support infrastructure to provide it.

The bank provides a non-traditional, easy, and transparent loan service which at the same time is also very prompt. If all your documents are provided to the bank, your loan will be sanctioned in just 7-10 working days. 

How to Apply?

If a home loan from Capitec Bank suits you well, you can apply online or by visiting selected Capitec branches from Gauteng, KwaZulu-Natal, and Western Cape branches. You will get up to 100% of the home value if applied online, and up to 90% of the home value, if you visit the nearest branch for loan initiation.

To apply online click the link and fill-up the form to initiate the application process. You will have to mention a few details like the purchase price of the property, the monthly income of the applicant, and other details to check your financial qualification.

Once the bank confirms the eligibility of the applicant, they will continue with the home loan application process and you can track that with the reference number you will receive when you fill out the form. 

Fees and Interest Rates

The interest on your loan will be based on current interest rates set by the South African Reserve Bank. The installment you pay will change as the interest rate fluctuates regularly. For the first couple of years, your installments will go toward paying off the interest. Afterward, the repayment will go toward paying off the actual loan amount.

The home loan will require the applicants to deposit 10 to 15 percent of the loan amount in the beginning.  You should note that by making a small addition to the payments into your home loan account can reduce the cost of your home loan at the end of the loan period and also decrease your payment period.

Eligibility Criteria

The applicant must meet some eligibility criteria set by Capitec Bank to apply for a home loan. 

  • The applicant(s) should be at least 18 years old but not older than 60 years.
  • You should not be under any kind of counseling.

You will also require submitting a few documents to get your loan sanctioned.

  • A copy of the signed offer to purchase the property.
  • ID copies of the applicant(s).
  • Salary slips of at least the last 3 months.
  • A stamped bank statement showing the 3 salary deposits.

Contact Information




1 Quantum Street, Techno Park, Stellenbosch, West Cape, South Africa.

How to Get a Home Loan from Capitec Bank

The Bottom Line

Capitec Bank offers a variety of loan services and its home loan might be a great option to help you finally get into your own dream home. However, you have to be very careful because 30% of your gross salary can go towards paying off the installments of the home loan.

Note: There are risks involved when applying for a home loan. Consult the bank’s terms and conditions page for more information