Bank Better, Live Better

understanding our new access facility

An access facility could unlock the opportunity to start a part-time business, renovate your home or further your studies. Here’s what you need to know.

Article Image

You’ve spent months thinking about it, dreaming about the appliances you’d like to buy and researching local contractors who can make your new kitchen a reality. Or maybe you’ve been considering studying a part-time degree to upskill and grab that promotion.

Our access facility is revolving credit that gives you access to up to R500 000. The difference is that you’re in control: you decide how much you want to use and, to make sure it fits your budget, you choose the repayment amount or period. And you only pay for it when you use it; it won’t cost you anything if you don’t.

Accessing the facility is easy: simply use our banking app, Internet banking or dial *120*3279#.

With an access facility, you:

  • Decide when to access the money, how much money to use and what to use it for
  • Choose the monthly repayment amount or period you’re comfortable with. If your financial situation changes unexpectedly, you can adjust your repayment amount or period
  • Can access your available balance at any time

What are the benefits of the access facility?

If your application is successful, you’ll have access to affordable revolving credit whenever you need it. Based on your personal profile, you could get up to R500 000 to repay over a period of up to 60 months.

It’s affordable:

  • You only pay for it when you use it
  • There’s no initiation fee, interest or monthly service fee charged if you don’t

It’s flexible:

  • You can make additional transfers and choose to lower the repayment amount or period
  • Should your financial situation change, you can simply adjust your repayment amount or period

Amounts repaid become available again.

Do I qualify for an access facility?

Your personal profile is used to assess whether or not you qualify for an access facility, or which credit limit and repayment period you qualify for. Although this depends on a number of factors, you can use our online credit estimate to check whether you qualify. Or, if you’re already a client, you can check using our banking app. 

Will my credit history affect my application for an access facility?

As with any form of credit, you must be responsible. Make sure that you know what you can afford in the long term and budget for the monthly instalments. There are a few things that will affect your credit rating:

  • Your repayment history: You should always pay your credit instalments on time and in full every month. Missing a payment or paying less than the minimum amount will have a negative effect on your credit rating
  • Your outstanding credit balance: Credit providers look at the total amount you owe on all your loans to see how much you’ve already repaid and how often you use credit. Your outstanding balance will also determine how much credit you can be offered
  • The length of your credit history: The longer your credit history, the more information is available about you and the better the picture of your long-term credit behaviour
  • The types of credit you have: Having a variety of credit options shows that you’re able to manage different types of credit, for example a credit card, retail store account and personal loan
  • New credit agreements you’ve recently taken up: If you’ve opened too many credit accounts in a short space of time, it may suggest that you’re in financial trouble and relying on credit to survive

How do I apply for an access facility?

You can apply for our access facility whether or not you’re a Capitec client. Simply visit a Capitec branch with the following:

  • Your valid SA ID document or smart ID (new clients only)
  • Your latest 3 consecutive salary slips
  • If you’re not a current Capitec client, you’ll need to bring a bank statement that shows your last 3 consecutive salary deposits

To speed up the application process if Capitec isn’t your main bank, bring along your bank card. Capitec uses DebiCheck, which puts you in control. You must electronically approve each new debit order before it can be processed to your account. If your credit application is successful, you’ll be able to use your card and PIN to approve the DebiCheck debit order.

You can use our online credit estimate to see what you could qualify for before you visit a branch.

Was this article helpful?

you may also like...

View All Other Articles View All
live better with our credit card

live better with our credit card

You get access to all your accounts and a credit limit of up to R500 000.

Read More
how to balance full-time work and part-time studies

how to balance full-time work and part-time studies

Working full time and studying on the side can be tricky, but it doesn’t have to be.

Read More
business owners can now apply for credit

business owners can now apply for credit

If you own or are a member/shareholder/director of an NPO, a trust, CC or a public/private company and earn a monthly salary, you may qualify for a loan.

Read More
what credit's right for you?

what credit's right for you?

Knowing the difference between the types of credit available will help you make the best credit decision for your needs.

Read More
View All Other Articles