Get Your Hands on Cash Fast With These Top Bank Loans
Getting cash is now easier than ever before with Capitec. Capitec has increased its unsecured bank loans to R230 000 from R150 000. According to the bank’s online newsletter, it has increased its credit offering so that its clients can get the cash they need to afford the things they really want.
The new maximum amount offered represents an increase of 53% and the R230 000 is available for a term of between one and 84 months.
This is substantially higher than any of the offerings at South Africa’s four largest banks or the unsecured player African Bank.
Absa offers personal loans between R3 000 and R150 000 over a term of 12 to 84 months. At Standard Bank you can qualify for a maximum loan of R120 000 if you earn R8 000 a month or more. FNB’s biggest unsecured loan on offer is also R150 000 and the maximum term is 60 months. Nedbank offers a R120 000 loan, also over 60 months. African Bank’s biggest unsecured loan on offer is for R180 000 for over 84 months.
To recap some of the other loans available:
- Absa: R150 000 over 84 months.
- Standard Bank: R120 000. Personal Term Loan for 42 months or Revolving Credit Plan where once you’ve paid 15% you can loan up to the original amount again.
- Nedbank: R120 000 over 60 months.
- FNB: R150 000 over 60 months.
According to a table on Capitec’s website the monthly repayment for a R230 000 loan could be between R4 984 over 84 months at an interest rate of 18.5% or R5 939 over 84 months at an interest rate of 25.2%. The bank clearly states that these are only examples and the actual rate will be based on the individual’s credit profile and affordability.
