Capitec Debt Consolidation
One payment, R0 monthly fee, managed via app
Capitec's Global One facility makes debt consolidation simple - combine your debts and pay R0 monthly fee when you manage it through the app.
With terms up to 84 months and personalized interest rates, you can turn multiple payments into one manageable amount with the bank that pioneered simplified banking.
Quick Facts
Loan Amount
Up to R250k
Based on affordability
Repayment Term
Up to 84 Months
7 years to repay
Monthly Fee
R0
On self-service
Key Features
R0 Monthly Service Fee
Manage your consolidation loan through the Capitec app and pay no monthly fee - saving you R828 per year.
Credit Life Insurance Included
Your loan is protected against death, disability, and retrenchment at no extra cost.
Longest Repayment Term
Up to 84 months gives you the lowest possible monthly payment - though you'll pay more interest overall.
All-in-One Account
Your consolidation loan, transactional account, and savings all in one place - easy to manage.
Interest Rates & Fees
| Fee Type | Amount |
|---|---|
| Interest Rate | Personalized (up to 27.75% p.a.) |
| Initiation Fee | Up to R1,207.50 (once-off) |
| Monthly Service Fee | R0 (self-service) or R69 (branch) |
| Credit Life Insurance | Included |
* Capitec offers personalized rates based on your credit profile. Check the app for your exact offer.
Example: Consolidating R60,000 of Debt
Here's how consolidating R60,000 over 60 months could look:
Consolidation Details
Requirements to Qualify
Basic Requirements
- South African citizen or permanent resident
- 18 years or older
- Regular income (employed or self-employed)
- Minimum income of R3,000 per month
- Capitec Global One account
Documents Needed
- Valid SA ID document
- Proof of income
* Existing Capitec clients may not need any documents - just apply in the app
How to Apply
Open the Capitec App
Download the app if you don't have it. You need a Capitec account to apply.
Check Your Credit Limit
Go to Credit > Term Loan to see your pre-approved amount and interest rate.
Choose Amount & Term
Select the amount you need to consolidate your debts and your preferred repayment term.
Pay Off Your Debts
Once approved, use the funds to pay off your creditors. Capitec doesn't pay them directly - you'll need to do this yourself.
Important: Unlike some banks, Capitec doesn't pay your creditors directly. You receive the funds and must pay them yourself.
Pros and Cons
Pros
- R0 monthly fee on self-service
- Lower minimum income (R3,000)
- Longest term available (84 months)
- Instant approval in app
- Credit life insurance included
- Simple all-in-one account
Cons
- Must have Capitec account
- You pay creditors yourself
- Interest rates not shown upfront
- Longer terms = more total interest
- Limit based on salary in account
Important Information
- • Capitec is a registered credit provider (NCRCP 13).
- • Your salary should be paid into your Capitec account for the best credit limit.
- • You're responsible for paying off your old debts - close those accounts to avoid temptation.
- • You have 5 business days to cancel without penalty.
Frequently Asked Questions
Does Capitec pay my creditors directly?
No, unlike some banks, Capitec pays the loan amount into your account. You need to pay your creditors yourself and close those accounts.
What interest rate will I get?
Capitec offers personalized rates. The only way to see your rate is to check in the app - there's no obligation until you accept.
Can I get consolidation without a Capitec account?
No, you need a Capitec Global One account. You can open one at any branch or via the app in a few minutes.
Is 84 months a good idea?
It gives the lowest monthly payment, but you'll pay significantly more interest over 7 years. Choose the shortest term you can afford.