When you use credit such as an access facility, for the right reasons, it can positively impact your life.
You’ve spent months dreaming about the appliances you’d like to buy and researching local contractors who can make your new kitchen a reality. Your Pinterest boards are bursting with inspiration… Or, perhaps you’ve been seriously thinking about studying part-time (and bookmarking a few things on GetSmarter) because it really is time to upskill.
But there’s one problem. You don’t have access to the money you need to make your dreams come true.
Sound familiar? Well, the good news is that a credit product like Capitec’s Access Facility can help you achieve your goals.
An access facility is revolving credit that could give you access to up to R500 000 to repay over a period of up to 60 months. 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.
“The flexibility and convenience of Capitec’s access facility makes it a very useful tool for larger projects that you need credit for. You apply for it once and have access to it over your lifetime to make use of when a need or an opportunity arises. It can also be very cost efficient in the sense that you don’t pay for it when you don’t make use of it,” says Financial Fitness Bunny, Nicolette Mashile.
Capitec makes it easy for clients to manage their access facility on its banking app. On the app you can choose when to use a certain amount, and what you want to repay monthly over a period that suits you. Amounts repaid become available again.
Financial journalist Maya Fisher-French believes that the quicker you can pay off outstanding amounts, the better for your finances. “If you can, try to pay it off sooner. The longer the time frame, the more the debt costs you,” she explains.
Capitec clients can do this on the banking app, as they can easily adjust their repayment amounts or periods if their financial situations change. This means they can make additional transfers and choose to lower the repayment period to pay it off quicker.
Here are 3 occasions where a Capitec Access Facility (revolving credit of up to R500 000 to repay over a period of up to 60 months) is just the thing:
To apply for a Capitec Access Facility, you’ll need to visit a Capitec branch with the following documents:
You can also save time and get an online estimate to see what you could qualify for before going to a branch.
Invest in your future by using flexible revolving credit to do that online course, set up your home office or do home improvements. You only need to apply for it once off in a branch but you’ll have lifetime access to it.
