Now you can apply for a home loan in a 4-step online process

Published Nov 5, 2020

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Property buyers will now be able to apply for a

home loan

through Capitec Bank which has announced its entry into the

home loan market

.

Previously, the bank only offered unsecured credit. In partnership with SA Home Loans, Capitec now provides home loans with “highly competitive linked interest rates from 6%”. Applications can be initiated online in less than five minutes.

The decision to venture into

home loan

“We’ve also made it easy for clients to track the progress of their application in real-time through our online portal. We found most application tracking to be vague or use terms that are not easily understood by someone who is unfamiliar with the process. Our tracking is comprised of six easy to follow steps, with clear communication describing the details of each step and if anything is required from the client.”

The home loan offering is open to new buyers as well as an existing homeowner looking to switch from their current mortgage provider. Government employees could also qualify for discounted interest rates.

The bank explains on its website that all home loan applications are originated on behalf of SA Home Loans which will assess and approve the credit application. Home loans of up to R5million are offered over 30 years.

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