Yes, Capitec has a dedicated education loan. Its Capitec education loan page advertises a loan of up to R500 000 for tuition and educational expenses at any South African-registered institution, repayable over up to 84 months. Capitec pays the institution directly, at a reduced interest rate. The detailed criteria depend on your credit profile and are set out below.
Eligibility Requirements at a Glance
The amount and term below are the advertised maximums, not what you will be offered.
- Advertised amount: up to R500 000
- Advertised repayment period: up to 84 months
- Use: tuition and educational expenses at a South African-registered institution, including primary school, high school, university, online courses and TVET colleges
- Capitec also offers an access facility for extra education expenses
- Age: 18 or older, with a valid South African ID or Smart ID card
- Credit status: not handed over, sequestered or under debt review. Capitec cannot give you credit while you are in debt review.
- Capitec client: not required to apply for credit toward education costs through its listed partners
Approval is always at Capitec’s discretion. Meeting a minimum criterion does not guarantee a loan.
Income and Affordability Requirements
Capitec does not publish a minimum income for the education loan. It must assess whether you can afford the repayments, so expect it to look at your income and existing debt. A student with no income should ask Capitec whether a parent, guardian or other co-applicant can apply, because the page does not say.
Capitec’s youth banking page lists a different product with its own test: a credit card for clients aged 18 to 24. Students need at least R1 750 paid into their account every month plus a registration letter from their institution; non-students need at least R3 000. That applies to the card, not to the education loan.
Credit and Financial Requirements
Your credit record and affordability decide whether you are approved and at what rate. Capitec says the education loan carries a reduced interest rate but does not publish the figure, so ask for the rate and the total cost of credit in writing before you sign. Capitec also says credit insurance is compulsory for all term loans, so ask what it adds to your instalment.
Compare the cost against NSFAS, bursaries and your institution’s payment plans first. Funding you do not repay is cheaper than any loan.
Documents and Verification Required
For credit toward education costs, Capitec’s FAQs list these documents:
- Valid South African ID or Smart ID card
- Your three latest consecutive salary slips
- A bank statement showing three salary deposits, only if your salary is not paid into a Capitec account
- A standard invoice or quote from one of Capitec’s listed partners, not older than 30 days
Capitec says no proof of residential address is needed, but you may be asked for supporting documents to complete the application. Have your registration or acceptance letter ready too, and ask whether a parent or guarantor must also submit documents.
How to Apply and Improve Approval Readiness
Capitec says you can apply in the Capitec app, online or at a branch. Start on the education loan page. Once approved, you approve a DebiCheck debit order and Capitec pays the money directly to the institution. The credit cannot be used to settle an existing loan.
- Check your credit report and correct errors first
- Work out the shortfall after NSFAS, bursaries and fee arrangements
- Borrow only what fees, books and accommodation require
- Ask Capitec when repayment starts and what the instalment will be
- Ask for the total repayable amount in writing before signing
Frequently Asked Questions
Does Capitec have a student loan?
Yes. Capitec offers an education loan for tuition and educational expenses at South African-registered institutions. There is no separate student account; students use the same account and fees as other clients.
How much can I borrow and for how long?
Capitec advertises up to R500 000 and up to 84 months to pay. What you are offered depends on its assessment of you.
Can a student with no income get a Capitec loan for studies?
Credit is assessed on affordability, so a student without income should ask the bank whether a parent or other co-applicant can apply.
Does the money pay the university directly?
Yes. Capitec says it pays the institution directly once your application is approved and you have approved the DebiCheck debit order.
When does repayment start?
Capitec does not state this on its page. Ask for the repayment start date and instalment in writing.
Should I apply for NSFAS first?
Yes. NSFAS funding and bursaries do not need to be repaid, so exhaust those before borrowing.
Confirm current terms with Capitec Bank. See loan requirements and browse all finance and funding requirements.