Capitec Credit for Education

When it comes to your education and securing your future, you shouldn’t have to worry about how you’re going to pay for it. Get credit with Capitec to help you kick-start success. Apply Now in a few easy steps for up to R250 000 over 84 months and get your offer within minutes. You can also enjoy a discounted interest rate from 7.50% and an extended term to suit your education needs. Once your credit is approved, Capitec will pay it directly to Johannesburg Business School (JBS) for you.

Note: To apply for credit, the applicant (you or your parent/s, guardian or sponsor applying on your behalf) must be permanently employed. A quote or invoice, not older than 30 days is needed to process your application.

Have queries? Read Capitec’s FAQs or call them on 0860 88 88 40, Monday to Friday, 8am – 6pm and Saturday 8am – 1pm.

Credit for education: frequently asked questions (FAQs)

It’s credit offered at a discounted interest rate over an extended term, that’s specifically used to pay for education. You can only apply from our website. If you qualify and your credit is approved, Capitec will pay the money directly to JBS for you.

  • Enjoy a discounted, fixed interest rate for the term of your loan
  • Get up to R250 000 over 84 months
  • Save time, no need to visit a branch
  • Apply online and get your offer within 5 minutes
  • No long waiting periods, payment made within 24 – 48 hours
  • No further payments need to be made, the credit is paid directly to the educational institution for you

The term and amount that you could qualify for is based on the applicants’ personal credit profile, income details and affordability: 

  • If you get paid monthly you could qualify for up to R250 000 
  • If you get paid weekly you could qualify for up to R50 000 
  • If you get paid fortnightly you could qualify for up to R12 000
  • To apply for credit, the applicant (you or your parent/s, guardian or sponsor applying on your behalf) must be permanently employed, 18 years or older and have a valid South African ID document/smart ID card
  • A quote or invoice from JBS, not older than 30 days, is needed to process your application
  • The credit assessment will be based on our credit granting rules and the applicants’ personal credit profile and affordability. You may also need to provide:
    • Applicants’ latest 3 consecutive salary slips
    • A bank statement showing the applicants’ latest 3 consecutive salary deposits (only if your salary is not paid into your Capitec account)
    • No proof of residential address is needed; however, you may be asked to provide supporting documents to complete your application

For more information, visit capitecbank.co.za.

Click here and complete 4 easy steps to see how much you could qualify for.

No, you do not have to be a Capitec client to apply.

You can’t use credit for education to settle an existing loan. But if the existing loan reflects on the credit bureau and you qualify for either a Capitec term loan or access facility, it can be settled with the proceeds.

You will need:

  • A standard invoice or quote from the partner, not older than 30 days
  • Valid South African ID document/smart ID card (Must be 18 years or older. If your name and/or surname differs from your identification document, a marriage certificate, divorce court order or name change letter will be required.)
  • Your latest 3 consecutive salary slips
  • A bank statement showing your latest 3 consecutive salary deposits (only if your salary is not paid into your Capitec account)
  • No proof of residential address is needed; however, you may be asked to provide supporting documents to complete your application

The interest rate for which you qualify for is based on your personal credit profile, salary details and affordability. Credit for education is offered at a discounted interest rate, which means you’ll pay less interest compared to any of our other credit products. Once you’ve taken credit with us, you can view your interest rate on your statement or agreement.

There could be various reasons as to why your credit application was declined and it could vary from client to client.

The most common decline reasons are:

  • Affordability – you do not meet the minimum affordability criteria
  • Low credit score – when our standard credit scoring model indicates that the credit score for your application is below the minimum required
  • You are under debt administration. Once you are under debt administration, Capitec is not allowed to enter into a credit agreement with you
  • One or more of your Capitec accounts have been handed over to an external debt collector previously due to non-payment

We unfortunately cannot provide you with credit while you’re engaged in the debt review process. Only once you have fully paid up your accounts and the debt counsellor has issued you with a clearance certificate, will you be able to apply for credit again.

No, you cannot apply for credit if you are blacklisted.

Your credit score is determined by your credit profile. Below are some guidelines on how to build and maintain a good credit score:

  • If you are used to paying for everything in cash, it would be a good idea to open some credit facilities in order to demonstrate good credit behaviour
  • Make sure you pay your accounts on time, every time. Don’t skip payments – even if you pay double the next month, it will negatively affect your credit profile
  • Don’t be tempted by easy credit. Avoid ‘loan sharks’ and ‘pay day’ loans
  • Every credit check on your profile is tracked and too many checks will reduce your score – so be mindful of applying for credit everywhere you go
  • Make sure you complete any credit application carefully so there are no errors on your credit profile
  • If you think you may not be able to pay your loan or account, contact your credit provider to discuss repayment options. Don’t ignore the problem

We encourage you to download our free Money Guide to get tips and learn more about how to manage your money.

A low credit score can be improved by:

  • Ensuring that any arrear accounts are brought up to date, and that all defaulted accounts are settled in full. Contact each creditor, if need be, and try to arrange a suitable payment arrangement which would allow you to settle the accounts
  • Ensuring that all your remaining accounts are paid on time each month and avoid new credit applications
  • It is important to avoid quick, ‘pay day’ loans as this will reflect on your credit profile and contribute to a lower credit rating
  • Once you have done the above, wait for at least 3 – 6 months, maintaining good payment behaviour – for your credit rating to improve before you apply for credit again

The credit will have to be repaid in full according to the Capitec credit agreement signed.

If the textbooks are supplied by the same institution and can form part of the invoice payable for tuition fees, you could use the credit to pay for textbooks. However, if the textbooks are supplied by an alternative supplier and/or requires a separate payment, you cannot use the credit to pay for it.

Credit for education is used specifically for an education need. You can only apply through one of our partners from their website. If you qualify and your credit is approved, the money will be paid directly to the relevant partner for you. It can be used as a student loan to pay for tuition fees. A term loan or personal loan can be used for various needs and the money is paid into the client’s bank account on approval, but you won’t receive a discounted interest rate or an extended term.

You can apply online or get an estimate to see if you qualify directly from the relevant partner’s website. Complete 4 easy steps to see if you qualify. If you do, one of our consultants will contact you within 48 hours to complete your application. You can’t apply at a Capitec branch or through the credit estimate on the Capitec website.

Once your application has been approved, you just have to approve your DebiCheck debit order and then the money will be paid directly to the partner.

Yes, the money will be paid directly to the partner using the bank account details provided on the invoice.

The interest rate for which you qualify for is based on your personal credit profile and affordability. Credit for education is offered at a discounted interest rate, which means you’ll pay less interest compared to any of our other credit products. Once you’ve taken credit with us, you can view your interest rate on your statement or agreement.

Once you’ve completed the online estimate steps, you’ll have the option to choose I’m interested or Cancel. If you’d like to go ahead with the credit application, choose I’m interested and one of our consultants will contact you within 48 hours to complete your application.

Ensure that you send all of the required documents through to us so that we can pay out the proceeds of your loan. This includes the final standard invoice or quote from the partner, not older than 30 days which you can send to CreditDocuments@capitecbank.co.za. Please ensure the quote you send is the final one.

The applicant must complete the application themselves through the relevant partner website. For your own safety and the protection of your personal information, nobody else should complete the application on your behalf.

You can call us on 0860 66 77 89, Monday – Friday 8am – 6pm or Saturdays 8am – 1pm.