Business: Capitec Clients Set To Get R160m Loan

Over 80,000 Capitec bank customers has received a whopping sum of R160 million loan from the bank, this is according to officials of the bank. The impact of the coronavirus has been felt by many people in South Africa.

The discounts are important for Capitec’s drive to help mitigate monetary tension on customers during the Covid-19 pandemic.

Gerrie Fourie, CEO of Capitec, stated: “While installment occasions offer brief alleviation, advances actually cause interest, which adds to the all out expense of credit. We need to help our customers however much as could be expected during this time”

To fit the bill for the interest discount, customers needed to respect their advance portions after the help time frame. Following a half year of fruitful advance reimbursements, a discount equivalent to 50 percent of the interest