Bank Better, Live Better

• There are no fees for rescheduling, but your total cost of credit will increase. This is because your loan term will be extended to lower your monthly repayment amount, which means you’ll pay interest over a longer period
• You can avoid paying more interest by increasing your instalment again once you are in a better financial position

• If you reschedule during the qualifying period between 26 March – 19 July 2020, and then reschedule your repayments again after 19 July 2020, you can still qualify for the original 3-month interest refund
• You will need to make 6 consecutive monthly payments to qualify for the first 50% interest refund, and another 6 successful monthly payments to qualify for the second 50% interest refund. The interest refund is valid for repayments made up until 31 July 2021

• You can be proactive and reschedule your loan from the moment you become worried that you may not be able to make your loan repayment
• You can also reschedule your loan if you’ve fallen behind with your loan repayment
• There are various types of rescheduling options available, so you’ll be asked questions to help us determine what type will best suit your needs

1. SMS your 13-digit ID number to 30679 and follow the prompts
2. Email CentralisedCollections@capitecbank.co.za with your loan account number in the subject line
3. Call us on 0860 66 77 18 for one of our agents to assist you
4. Visit your nearest branch

Note: Please allow up to 48 hours for a response to your SMS or email.

To lower your repayments, the amount you borrow will be paid back over a longer period. Read more here.

• There are no initiation fees for consolidating Capitec loans, however you will still pay the normal monthly instalment, and your interest rate will depend on the credit assessment done at the time
• Note that while your repayments could be lower, your total cost of credit may be more because you’ll pay interest over a longer period
• You can avoid paying more interest by increasing your instalment again once you are in a better financial position

• If you reschedule during the qualifying period between 26 March – 19 July 2020, and then consolidate your debt with a Capitec loan afterwards, you can still qualify for the original 3-month interest refund
• You will need to make 6 consecutive monthly payments to qualify for the first 50% interest refund, and another 6 successful monthly payments to qualify for the second 50% interest refund. The interest refund is valid for repayments made up until 31 July 2021

You need a good credit score and will have to pass a full affordability assessment before you can qualify for a consolidation loan.

To apply for debt consolidation, choose one of the following options:

• Apply online
• Apply on our app
• Visit your nearest branch
• Call us on 0860 66 77 89

If you earn an income, but find yourself over-indebted, you may qualify for debt review.

When you don’t have enough money left after providing for necessary living expenses to make your debt repayments, even though you’ve lowered your living expenses as much as possible and made arrangements with your credit providers, such as rescheduling your existing loans.

• Debt counsellor fees are regulated by the National Credit Regulator (NCR). Make sure that all the costs and fees are explained to you before going under debt review
• The fees are set by the NCR – currently a R50 application fee, a once-off administration fee of R300, and a once-off restructuring fee of up to R8 000 for an individual applicant and R9 000 for a joint application
• There are also legal fees to be paid at the beginning of the process, and a monthly “after-care” fee of 5% of that monthly instalment, capped at R450

• A debt counsellor will assess your financial situation
• If you’re found to be over-indebted, they’ll calculate a single monthly repayment that you can afford to pay towards your debt each month so that you’ll still have enough money to pay your necessary living expenses
• The debt counsellor will then submit a repayment proposal to your credit providers. If they accept, your debt will be restructured by means of a consent- or court order
• For the duration of the debt review period your credit bureau report will show that you’re undergoing debt counselling

No. You also won’t be able to access your existing credit facilities.

No, unfortunately you will not qualify for our interest refund if you are under debt review. Read more here

If you've already contacted us and together we've determined that debt rescheduling or debt consolidation are not suitable relief options, you can visit the National Credit Regulator for a list of debt counsellors:

• ncr.org.za
• Phone 0860 62 76 27