Capitec Home Loan Calculator

Calculation Summary
Category Loan Term
Monthly Payment
Loan Amount
Total Interest
Total Cost of Loan

Finding the possibilities of home ownership or refinancing can often feel like wading through a maze of numbers and rates.

Enter our Capitec Home Loan Calculator, a tool designed to cut through the confusion and lay out your options clearly. With this guide, you’ll find a straightforward path to understanding just what your financial future could look like with Capitec.

Whether you’re a first-time buyer, thinking about switching your current home loan, or simply curious about your options, this calculator is your first step toward making informed decisions.

Capitec Home Loan

1. Eligibility Criteria

Capitec’s home loan is available to both permanently employed and self-employed individuals.

There are no specific documents required to start the application process, but certain documents may be requested later.

Government employees can qualify for a discounted interest rate through the Government Employee Housing Scheme (GEHS)​​​​.

2. Loan Application Process

The application process is designed to be simple and paperless, with a 4-step online application. Real-time tracking is available for applicants to monitor their application status.

After the initial online pre-qualification and approval, necessary documents like IDs, bank statements, and payslips can be submitted via email​​.

3. Loan Amounts Available

Capitec offers home loans up to R5 million. The amount you qualify for will depend on various factors including your income, credit profile, and the value of the property​​.

4. Interest Rates and Fees

Interest rates range from 9.25% to 10.25% per annum. The interest rate offered to applicants is competitive and based on the Johannesburg Interbank Agreed Rate (Jibar), not the prime lending rate.

Standard home loan fees, including transfer and registration costs, apply, along with a monthly administration fee and an initiation fee based on the overall loan amount​​​​.

5. Repayment Terms and Options

Repayment terms can extend up to 20 years. The specific terms and options will be tailored to the individual’s profile and loan details, ensuring affordability and compliance with Capitec’s lending criteria​​.

6. Approval and Disbursement Timeline

Capitec aims for a quick turnaround, with initial contact within 2 working days after an inquiry and notification of approval status within 5 working days after receiving all necessary documentation​​.

7. Credit Score and Special Considerations

While the credit score is an essential factor, Capitec evaluates applications based on overall affordability and creditworthiness.

Special considerations are given to government employees through the GEHS, potentially offering them discounted rates​​​​.

8. Additional Features or Benefits

  • Digital and Paperless Process: The application process is entirely online, aligning with Capitec’s digital banking experience.
  • Competitive Interest Rates: Based on individual profiles and possibly below the prime rate.
  • Real-Time Application Tracking: Applicants can track their application status through an online portal.
  • Dedicated Support: Property finance consultants are available to guide applicants through the process.
  • Flexibility: The service caters to both permanently employed and self-employed individuals and offers switching benefits for existing home loans​​​​.