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quick checklist
If you answer Yes to ALL of the following, you could qualify for credit
credit examples
You want Loan amount Term (Months) You pay Interest rate (%) Credit life insurance (%) Once-off initiation fee Monthly service fee Your repayment Monthly repayment Total repayment 1 089 13 067 1 204 14 450 1 578 75 744 2 239 107 490 20 FREE 1 140 57 31 10 1 140 57 18.7 FREE 1140 57 31 10 1 140 57 Capitec Bank 10000 12 Other 10000 12 Capitec Bank 50000 48 Other 50000 48
Note: Some credit providers quote low interest rates, but charge high credit life insurance fees. Compare all the fees to nd out what the total cost of your credit is.
affordability
Can you easily afford the monthly repayments of your loan?
Determine what money you have available after all your expenses. Plan your budget and consider your commitment for the full term of a new loan. Always have extra money for unexpected expenses.
affordability calculation
Income Salary/Wages/Pension Expenses Home loan/Rent Water/Electricity Transport (fuel/taxi/train) Cellphone Groceries School fees/Childcare Clothing Insurance/Funeral policy Debt repayments (excluding home loan) Medical Other Surplus (Income Expenses) Money available Extra money for unexpected expenses Money available for a new loan repayment Please use credit responsibly When doing your affordability calculation, provide for extra money for any unplanned/emergency expenses (i.e. money left over for medical treatment) Its less stressful and better for your credit prole (which determines how much credit you qualify for) to be turned down now for a loan than to face the consequences of a loan you cannot afford Taking credit that you cannot afford always causes more problems than it solves Leave space for price increases (e.g. electricity) and unexpected expenses in your budget so that you can meet your debt commitments in the future
capitecbank.co.za
Fees include VAT. Conditions apply. All information correct at time of going to print, 12/09/2013, and subject to change. A registered credit provider. NCR Reg. No.: NCRCP13 Capitec Bank Limited Reg. No.: 1980/003695/06