Capitec’s Access Facility helps clients achieve their dreams and live better – and for Zonisele, this has meant the opportunity to renovate his family home.

For Zonisele, the dream of renovating his family home was a goal that was close to his heart – from re-establishing roofing to carving out a memorable interior, Zonisele’s dream echoes milestones many might dream of, but few might have the cash on hand to do.

Zonisele’s idea to build a better home came together with the idea of approaching Capitec Bank – South Africa’s biggest retail  bank which today has over 14 million clients – for a credit solution to bring his dream to life.

Fusi Moleko, Service Consultant at Capitec, recalls Zonisele’s request for a loan fondly. “A client came in looking for a loan – he said that he wanted to do renovations on his house. So, at Capitec Bank, we are all about enabling clients to live better and bank better. We have a new product called the Access Facility, which is flexible, revolving credit.”

Capitec Bank’s Access Facility gives clients access to affordable revolving credit of up to R250000 to use whenever it is needed. The facility can be fully managed from their app allowing clients to decide how much of the facility they want to use at any given point in time, as well as select a monthly repayment amount or period they are comfortable with.

After a once-off in-branch credit assessment clients get access to the revolving credit, over a period of up to 60 months and once an amount is repaid it can be accessed again should the need arise.

Competitive interest rates, based on a client’s credit profile, are linked to prime and range from 12.4% to 17.25%. Initiation fees are charged once off and the monthly fee of R69 is only payable when the client has an outstanding balance.

Unlike traditional revolving loan facilities, which usually have a fixed monthly instalment, the Capitec Access Facility offers increased flexibility. It allows clients to make additional repayments that can be used to lower monthly instalments or reduce repayment periods, which leads to a saving in interest. Should a client face unplanned life events and need additional disposable income, the repayment period can be extended (up to a maximum of 60 months) to reduce the amount paid back each month.

To ensure the best and most affordable use of the product clients are provided with tips and insights during the in-branch application and through further direct communications.

“If a client doesn’t use the facility, no fees are charged, – which means no interest or monthly admin fees are payable. This flexibility makes the Capitec Access Facility great for unplanned life events.” explained Francois Viviers, Executive of Marketing and Communications at Capitec. 

Viviers added, “A significant number of clients are using the facility for home improvement, which, given the current lockdown, has become a priority for people.”

To apply, clients can get a free online estimate through either Capitec’s website or app in a couple of minutes. New clients will need to visit a Capitec branch with their valid SA ID document/smart ID card, latest three consecutive salary slips, and a bank statement showing the latest three consecutive salary deposits if your salary is not paid into their Capitec account.  When approved, the money will be available immediately.

Capitec’s Access Facility has helped customers achieve their dreams – and for Zonisele, this has meant realising a lifetime goal.

“We have neighbours coming in waiting to know how we managed the renovations. We tell them we got help through Capitec. They are the ones who made this all possible”, concludes Zonisele.

To find out more about Capitec’s Access Facility visit: