Capitec

Capitec bank was founded on the 1st of March 2001 by Riaan Stassen, Michiel le Roux, and Jannie Mouton. This would soon become one of the largest retail banks in South Africa winning numerous awards.

An overview of Capitec’s operations

In 2017, Capitec became South Africa’s second-largest retail bank boasting 120,000 new accounts opened monthly. They maintain more than 853 retail branches across South Africa and own/partnership more than 3,418 ATMs nationwide.

As reported by the Chief Financial Officer in 2015, Capitec served 6.2 million customers of which more than 3 million customers were using the mobile banking app and 309,000 were online banking customers. This number has since increased to over 18 million active customers. Capitec currently employs more than 14,029 staff members across the country.

Capitec’s achievements

Capitec has an all-in-one account called Global One. This account triples as a credit facility, transaction, and savings account.

In 2015, Capitec ranked first on the SACS Index with just over 82 points. The world-renowned banking consultancy, Lafferty rated Capitec as the world’s best bank in the first ranking for bank quality.

The majority of Capitec’s clients, which amounts to over 5 million, paid bank costs as low as R50 monthly as of February 2017.

The Capitec business model

Operating in the retail banking sector, Capitec serves businesses and individuals. Their business banking services are however not available to close corporations, trusts, partnerships, or companies. Rather, they focus on a simplified banking experience.

Capitec has a business model that’s focused on a low-cost service provision. They offer you high-interest rates on deposits and allow you the freedom to pay as you transact, you enjoy all the value that Capitec offers.

The proof is in the proverbial pudding when it comes to service delivery and customer satisfaction at Capitec. They strive to uphold an unparalleled level of outstanding service to each customer.

Capitec’s products and services

Their current list of financial products and services extends to the following categories and its subdivisions:

• Loans
• Investment banking
• Savings
• Investments
• Debit cards
• Credit cards
• Commercial banking

Consolidate your debt with Capitec

Are you feeling the pressure of debt that’s only a few steps away from becoming overbearing? You could qualify for a personal loan from Capitec. This could enable you to consolidate all of your current debt and have you repay only one monthly instalment on your loan.

What can Capitec offer you?

Qualifying for this credit facility could offer you a loan of up to R250,000 and a repayment period of up to 84 months, or 7 years. This loan offers you fixed monthly instalments and interest rates starting from 11.75%. With Capitec’s vision of offering you simplified banking, you can manage your credit with the Capitec App.

Get an estimate of your borrowing power online

When deciding on a personal or consolidation loan, calculating your total borrowing power is beneficial. You can work on a budget and manage your money better when you have a clear idea of what you’re getting into.

Capitec has an online credit estimation calculator you can utilise. You’re required to complete the online questionnaire that consists of three sections. The first requires your personal information, the second section asks you to verify your identity after which you’re presented with an estimation in the final section.