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Are you currently looking for credit relief or support?

Are you currently looking for credit relief or support?

We’re doing everything we could to assist you through the COVID-19 crisis. Should your earnings happens to be affected, talk with us about our credit re payment relief and support choices and our 100% interest reimbursement (valid until 19 July 2020).

When you yourself have been afflicted with a short-term lack of earnings, we possibly may have the ability to give you credit repayment relief by means of a payment break and rescheduling on your own loan. In the event that you choose set for this, you may possibly be eligible for a 100% interest reimbursement from the interest charged through the very first three months of a repayment break or rescheduling adopted between 26 March– 19 July 2020.

There are other credit help solutions like lowering your loan instalment, building payment arrangement on your credit or loan card, organizing re payment intend on your bank card or credit insurance that covers you against unexpected activities or losings.

To utilize for credit relief or just about any other support, select one of several after:

  1. SMS your 13-digit ID quantity to 30679 and stick to the prompts
  2. E-mail CentralisedCollections@capitecbank.co.za together with your loan account quantity within the line that is subject
  3. Give us a call 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 a reply to your SMS or e-mail.

Credit relief options

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

Credit payment relief

Payment break on your own loan

  • Your loan instalment is lowered to R0 for 1 – 3 months
  • Centered on system calculations, the word of the loan can be extended to guarantee you continue to pay an inexpensive instalment following the payment break that is 3-month
  • You might be eligible for 100% interest reimbursement in the interest charged throughout the first a few months as soon as you begin making loan that is consistent again (valid until 19 July 2020 and only applies to cost breaks or rescheduling taken up between 26 March– 19 July 2020 – see Interest refund below to learn more)

Rescheduling your loan

  • You are going to pay a lower instalment for 2 – 6 months
  • Your instalment will slowly increase before you return to having to pay your normal instalment
  • You can be eligible for 100% interest reimbursement in the interest charged throughout the very very first a couple of months as soon as you start making loan that is consistent once 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 learn more)

Interest reimbursement

Although you may spend a low or no instalment throughout the re payment break or rescheduling, interest nevertheless applies this means your cost that is total of will increase. To greatly help with this, our company is supplying a 100% interest reimbursement in the interest charged throughout the very very first three months to consumers whom opted set for a payment break or rescheduling between 26 March– 19 July 2020.

How it operates

  • As soon as you make 6 effective loan repayments, you certainly will get a pastime reimbursement add up to 50% associated with interest charged throughout the very first three months. This reimbursement will directly be paid installment loans near me into the loan account being a money decrease
  • After an additional 6 repayments that are successful you may get another 50% for the interest charged through the first a couple of months
  • The attention reimbursement is legitimate for repayments made up 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 3-month repayment break 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 loan that is successful (June – November 2020): A 50% interest reimbursement of R2 284 is compensated into the loan account in November 2020
  • After an additional 6 effective loan repayments (December 2020 – May 2021): Another 50% interest refund of R2 284 is compensated to your loan account in might 2021
  • The total interest reimbursement = R4 568 and so you paid zero interest through the 3-month payment break

Other credit help

Cutting your loan instalment

  • You can easily reschedule your loan to lessen your instalments that are remaining expanding the word of your loan. This may boost your cost that is total of as interest will now be paid over an extended term
  • You could reschedule your loan to cover a greater shorten and instalment the expression of the loan. This can reduce your cost that is total of as interest will now be compensated more than a smaller term

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

  • Available on all loans or bank cards which are in arrears
  • Along with your normal instalment quantity, it is possible to organize to cover the complete quantity in arrears on/before the next re re re payment date
  • You can also organize to pay for your arrears down in 2 – 6 repayments together with your instalment in your payment that is monthly date
  • Your credit profile status will continue to be in arrears before the arrears that are full is paid back

Re re re Payment plan on the charge card (only when you’re in arrears)

  • You will spend a set quantity every month which is less than your existing minimum that is monthly due
  • A re payment plan ranges between 3 – 12 months
  • As soon as your application is prosperous, your monthly minimum payment due is replaced with all the agreed instalment through the duration of the re payment plan

Credit insurance coverage

  • The goal of insurance coverage would be to protect you against unexpected activities or losses. Insurance policy is compulsory for credit loan regards to 7 months and much longer
  • Your charge card contract could add credit insurance policy, please make reference to your contract to learn more
  • Our credit insurance coverage is directed at addressing a credit repayment responsibility if you should be not able to spend your instalment as being a total outcome of death or impairment, also particular circumstances where you have actually lost your earnings like:
    • Death – full outstanding quantity as at date of death
    • Jobless (as a result of circumstances away from control) or retrenchment (involuntary) – credit agreements such as credit insurance coverage and had been given before 10 May 2020: complete outstanding stability as at date you will be notified of the retrenchment
    • Jobless (because of circumstances away from control) or retrenchment (involuntary) – credit agreements including credit insurance coverage and were issued after 10 May 2020: no more than a couple of years’ instalments, or the remaining term of this loan, or credit through to the client discovers work once again whichever may be the quickest
    • Permanent impairment – full outstanding quantity as at date of impairment
    • Temporary impairment – no more than 12 instalments

Which means with us and you are retrenched or temporarily or permanently not earning an income, you may be covered if you have credit insurance.

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