{"id":8867,"date":"2024-03-06T12:50:55","date_gmt":"2024-03-06T12:50:55","guid":{"rendered":"https:\/\/collegeguide.co.za\/?page_id=8867"},"modified":"2024-03-06T12:50:55","modified_gmt":"2024-03-06T12:50:55","slug":"capitec-interest-rates","status":"publish","type":"page","link":"https:\/\/uni1.co.za\/articles\/capitec-interest-rates\/","title":{"rendered":"Capitec interest rates"},"content":{"rendered":"\n<div class=\"advads-atf\" style=\"margin-top: 15px;margin-bottom: 20px;\" id=\"advads-3377747410\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-9198760278752355\"\n     crossorigin=\"anonymous\"><\/script>\n<!-- Responsive ads atf -->\n<ins class=\"adsbygoogle\"\n     style=\"display:block\"\n     data-ad-client=\"ca-pub-9198760278752355\"\n     data-ad-slot=\"8381596201\"\n     data-ad-format=\"auto\"\n     data-full-width-responsive=\"true\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/div><p><a href=\"https:\/\/www.capitecbank.co.za\/bank-better-live-better\/financial-tools\/savings-calculator\/\">Savings Calculator<\/a><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><thead><tr><td><strong>Term (Months)&nbsp;&nbsp;<\/strong><\/td><td><strong>R10 000 &#8211; R24 999<\/strong><\/td><td><strong>R25 000 &#8211; R99 999<\/strong><\/td><td><strong>R100 000+<\/strong><\/td><\/tr><\/thead><tbody><tr><td>&nbsp;<\/td><td>Nominal<\/td><td>Effective<\/td><td>Nominal<\/td><td>Effective<\/td><td>Nominal<\/td><td>Effective<\/td><\/tr><tr><td>6<\/td><td>4.08%<\/td><td>4.16%<\/td><td>4.08%<\/td><td>4.16%<\/td><td>4.20%<\/td><td>4.28%<\/td><\/tr><tr><td>7 -9<\/td><td>4.28%<\/td><td>4.36%<\/td><td>4.28%<\/td><td>4.36%<\/td><td>4.40%<\/td><td>4.49%<\/td><\/tr><tr><td>10 -12<\/td><td>4.73%<\/td><td>4.83%<\/td><td>4.73%<\/td><td>4.83%<\/td><td>4.80%<\/td><td>4.91%<\/td><\/tr><tr><td>13 &#8211; 18<\/td><td>4.77%<\/td><td>4.88%<\/td><td>4.77%<\/td><td>4.88%<\/td><td>4.84%<\/td><td>4.95%<\/td><\/tr><tr><td>19 &#8211; 24<\/td><td>5.77%<\/td><td>5.93%<\/td><td>5.77%<\/td><td>5.93%<\/td><td>5.98%<\/td><td>6.15%<\/td><\/tr><tr><td>25 &#8211; 36<\/td><td>6.19%<\/td><td>6.37%<\/td><td>6.19%<\/td><td>6.37%<\/td><td>6.21%<\/td><td>6.39%<\/td><\/tr><tr><td>37 &#8211; 48<\/td><td>6.41%<\/td><td>6.60%<\/td><td>6.41%<\/td><td>6.60%<\/td><td>6.61%<\/td><td>6.81%<\/td><\/tr><tr><td>49 &#8211; 60<\/td><td>7.51%<\/td><td>7.77%<\/td><td>7.51%<\/td><td>7.77%<\/td><td>7.71%<\/td><td>7.99%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>The&nbsp;<strong>nominal interest rate<\/strong>&nbsp;is used to calculate the&nbsp;<strong>daily interest earned<\/strong>&nbsp;on your account balance, which&nbsp;<strong>accumulates<\/strong>&nbsp;until it is capitalised on an agreed date every month. The interest is then either reinvested or transferred to your savings account.<\/p>\n\n\n\n<p>The\u00a0<strong>effective annual interest rate<\/strong>\u00a0is calculated by taking into account the fact that\u00a0<strong>interest is earned<\/strong>\u00a0on\u00a0<strong>capitalised interest<\/strong>\u00a0over a period 12 months.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">How it works<\/h4>\n\n\n\n<ul class=\"wp-block-list\"><li>You choose how long you want to invest (6 \u2013 60 months)<\/li><li>Deposit a single amount up to a maximum of R20 million to invest over the term you choose<\/li><li>Minimum deposit amount of R10 000<\/li><li>Earn up to 7.71% interest (nominal interest rate)<\/li><\/ul>\n\n\n\n<h4 class=\"wp-block-heading\">Benefits<\/h4>\n\n\n\n<p>The benefits of our fixed-term savings plans:<\/p><div class=\"advads-content\" id=\"advads-1040652191\"><div style=\"width: 300px; padding: 20px; margin: 0 auto; border: 1px solid #ddd; border-radius: 8px; background-color: #f9f9f9; text-align: center; font-family: Arial, sans-serif;\">\r\n    <p style=\"font-size: 16px; margin: 0 0 10px;\">Need Information or Confused about Something ? <\/p>\r\n    <a href=\"https:\/\/onlineapplications.co.za\/ask\/\" style=\"display: inline-block; padding: 10px 20px; background-color: #007BFF; color: #fff; text-decoration: none; border-radius: 4px; transition: background-color 0.3s;\">Ask a Question<\/a>\r\n<\/div>\r\n<\/div><div class=\"advads-btf\" style=\"margin-top: 15px;margin-bottom: 20px;\" id=\"advads-3017565709\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-9198760278752355\"\n     crossorigin=\"anonymous\"><\/script>\n<!-- Responsive ads btf -->\n<ins class=\"adsbygoogle\"\n     style=\"display:block\"\n     data-ad-client=\"ca-pub-9198760278752355\"\n     data-ad-slot=\"5513273173\"\n     data-ad-format=\"auto\"\n     data-full-width-responsive=\"true\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script><\/div>\n\n\n\n<ul class=\"wp-block-list\"><li>Reinvest the interest or transfer it to your main savings account<\/li><li>Interest rate fixed for the full term<\/li><li>Money available on the maturity date<\/li><li>After maturity, the account becomes a flexible savings plan, which you can refix<\/li><li>No monthly admin fee<\/li><\/ul>\n<div class=\"advads-cpc\" id=\"advads-1517413839\"><p>&nbsp;<\/p>\n<hr \/>\n<p>Sponsored Guide<\/p>\n<hr \/>\n<p><strong>Complete Guide to NSFAS Online Loan Application for South African Students (2025)<\/strong><\/p>\n<p>If you are a South African student looking to pursue higher education but are facing financial difficulties, the <strong>National Student Financial Aid Scheme (NSFAS)<\/strong> is one of the most accessible funding options available. NSFAS provides financial aid in the form of <strong>bursaries and loans<\/strong> to qualifying students at public universities and TVET colleges in South Africa.<\/p>\n<p>This guide will walk you through <strong>everything you need to know about the NSFAS loan application process<\/strong>, from eligibility requirements to application steps and frequently asked questions.<\/p>\n<hr \/>\n<h2>\ud83d\udccc What is NSFAS?<\/h2>\n<p>The <strong>National Student Financial Aid Scheme (NSFAS)<\/strong> is a government-funded financial aid scheme aimed at helping students from low- and middle-income households to access tertiary education without the burden of upfront fees.<\/p>\n<p>NSFAS <strong>offers both bursaries and income-contingent loans<\/strong>:<\/p>\n<ul>\n<li><strong>Bursaries<\/strong>: For eligible students who meet academic and household income criteria (especially for TVET and university students).<\/li>\n<li><strong>Loans<\/strong>: For students who do not meet all bursary criteria or who are pursuing postgraduate qualifications not funded under bursary schemes.<\/li>\n<\/ul>\n<hr \/>\n<h2>\u2705 Who Qualifies for an NSFAS Loan?<\/h2>\n<p>To qualify for an NSFAS loan (especially for postgraduate students or programs not funded under the bursary system), you must:<\/p>\n<ul>\n<li>Be a <strong>South African citizen<\/strong>.<\/li>\n<li>Be <strong>financially needy<\/strong>, with a household income of <strong>less than R350,000 per year<\/strong>.<\/li>\n<li>Have a <strong>valid South African ID<\/strong>.<\/li>\n<li>Be <strong>enrolled or accepted<\/strong> to study at a <strong>public university or TVET college<\/strong>.<\/li>\n<li>Not be funded through another bursary program that covers all expenses.<\/li>\n<li>Maintain satisfactory <strong>academic progress<\/strong> (returning students).<\/li>\n<\/ul>\n<hr \/>\n<h2>\ud83d\udcda Courses Funded by NSFAS<\/h2>\n<p>NSFAS primarily funds <strong>undergraduate qualifications<\/strong>, but certain <strong>postgraduate programs (e.g., PGCE, postgraduate diplomas in education, and professional courses like LLB)<\/strong> may be considered under the <strong>NSFAS loan scheme<\/strong>, not bursaries.<\/p>\n<p>If you\u2019re studying:<\/p>\n<ul>\n<li><strong>Undergraduate degree or diploma<\/strong>: You are likely eligible for a full NSFAS bursary.<\/li>\n<li><strong>Postgraduate study<\/strong>: You may qualify for a loan, depending on the course and funding availability.<\/li>\n<\/ul>\n<hr \/>\n<h2>\ud83d\udcc4 Required Documents for NSFAS Application<\/h2>\n<p>When applying, make sure you have the following documents scanned and ready:<\/p>\n<ol>\n<li><strong>Certified copy of your South African ID or Smart Card<\/strong>.<\/li>\n<li><strong>Parent(s) or guardian(s) ID documents<\/strong>.<\/li>\n<li><strong>Proof of income<\/strong> (latest payslips, UIF, or affidavit if unemployed).<\/li>\n<li><strong>Consent Form<\/strong> signed by your parent(s)\/guardian(s) to allow NSFAS to verify income.<\/li>\n<li><strong>Proof of registration or acceptance at a public institution<\/strong>.<\/li>\n<li><strong>Academic transcripts<\/strong> (for continuing or postgraduate students).<\/li>\n<\/ol>\n<hr \/>\n<h2>\ud83d\udda5\ufe0f How to Apply for an NSFAS Loan Online<\/h2>\n<h3>Step-by-Step NSFAS Online Application Process (2025)<\/h3>\n<ol>\n<li>\n<h3><strong>Visit the NSFAS Website<\/strong><\/h3>\n<p>Go to: <a href=\"https:\/\/www.nsfas.org.za\/\">https:\/\/www.nsfas.org.za<\/a><\/li>\n<li>\n<h3><strong>Create an Account<\/strong><\/h3>\n<ul>\n<li>Click on <strong>\u201cMyNSFAS\u201d<\/strong> and register your profile.<\/li>\n<li>You\u2019ll need a <strong>valid email address<\/strong> and <strong>South African cellphone number<\/strong>.<\/li>\n<li>Choose a strong password and verify your account via email or SMS.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><strong>Login and Start the Application<\/strong><\/h3>\n<ul>\n<li>After registration, log in to your <strong>MyNSFAS<\/strong> account.<\/li>\n<li>Click on <strong>\u201cApply\u201d<\/strong> to begin a new application.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><strong>Fill in Your Personal Details<\/strong><\/h3>\n<ul>\n<li>Input your <strong>ID number<\/strong>, name, surname, and other details exactly as they appear on your ID.<\/li>\n<li>Provide <strong>household income information<\/strong> and living arrangements.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><strong>Upload Required Documents<\/strong><\/h3>\n<ul>\n<li>Upload all supporting documents in <strong>PDF or JPEG format<\/strong>.<\/li>\n<li>Each document must be clear and under the size limit specified.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><strong>Submit Your Application<\/strong><\/h3>\n<ul>\n<li>Review your application for accuracy.<\/li>\n<li>Click <strong>\u201cSubmit\u201d<\/strong> and wait for a confirmation message.<\/li>\n<\/ul>\n<\/li>\n<li>\n<h3><strong>Track Your Application<\/strong><\/h3>\n<ul>\n<li>Log in regularly to check your application status.<\/li>\n<li>You will be notified via SMS and email at each stage of the process.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<hr \/>\n<h2>\ud83d\uddd3\ufe0f Important NSFAS Dates (2025)<\/h2>\n<ul>\n<li><strong>Application Opening Date<\/strong>: September 1, 2025<\/li>\n<li><strong>Application Deadline<\/strong>: January 31, 2026<\/li>\n<li><strong>Appeals Period<\/strong>: February 2026 (if rejected)<\/li>\n<li><strong>Disbursement<\/strong>: After registration and approval<\/li>\n<\/ul>\n<p><em>Note: Dates are subject to change; always confirm on the official NSFAS website.<\/em><\/p>\n<hr \/>\n<h2>\ud83d\udcb8 What Does the NSFAS Loan Cover?<\/h2>\n<p>NSFAS funding typically includes:<\/p>\n<ul>\n<li><strong>Tuition fees<\/strong><\/li>\n<li><strong>Registration fees<\/strong><\/li>\n<li><strong>Accommodation (if living away from home)<\/strong><\/li>\n<li><strong>Meals and transport<\/strong><\/li>\n<li><strong>Learning materials (e.g., textbooks)<\/strong><\/li>\n<\/ul>\n<p>For <strong>loans<\/strong>, repayment is only required <strong>once you start working and earn above a threshold<\/strong> (around R30,000 annually, but subject to change).<\/p>\n<hr \/>\n<h2>\ud83d\udd04 NSFAS Loan Repayment<\/h2>\n<p>Repayments are:<\/p>\n<ul>\n<li><strong>Income-contingent<\/strong> \u2013 you only repay when you can afford to.<\/li>\n<li>Administered by <strong>DHET (Department of Higher Education and Training)<\/strong>.<\/li>\n<li><strong>Interest-bearing<\/strong>, but interest rates are low and favorable.<\/li>\n<\/ul>\n<p>You can also apply for a <strong>partial loan conversion to a bursary<\/strong> if you perform well academically.<\/p>\n<hr \/>\n<h2>\ud83d\udd01 How to Appeal a Rejected NSFAS Application<\/h2>\n<p>If your application is rejected, you may submit an appeal via your MyNSFAS portal:<\/p>\n<ol>\n<li>Log into your MyNSFAS account.<\/li>\n<li>Click on <strong>\u201cTrack Funding Progress\u201d<\/strong>.<\/li>\n<li>If rejected, click on <strong>\u201cSubmit Appeal\u201d<\/strong>.<\/li>\n<li>Upload any missing or corrected documents.<\/li>\n<li>Provide a clear explanation or motivation.<\/li>\n<\/ol>\n<hr \/>\n<h2>\ud83d\udcf1 NSFAS Contact Information<\/h2>\n<ul>\n<li><strong>Website<\/strong>: <a href=\"https:\/\/www.nsfas.org.za\/\">https:\/\/www.nsfas.org.za<\/a><\/li>\n<li><strong>Email<\/strong>: <a href=\"mailto:info@nsfas.org.za\">info@nsfas.org.za<\/a><\/li>\n<li><strong>Toll-Free Number<\/strong>: 08000 67327 (Monday\u2013Friday, 8 AM\u20135 PM)<\/li>\n<li><strong>Twitter<\/strong>: <a href=\"https:\/\/twitter.com\/myNSFAS\">@myNSFAS<\/a><\/li>\n<li><strong>Facebook<\/strong>: <a href=\"https:\/\/www.facebook.com\/myNSFAS\">NSFAS<\/a><\/li>\n<\/ul>\n<hr \/>\n<h2>\ud83d\udcdd Final Tips Before Applying<\/h2>\n<ul>\n<li>Apply <strong>early<\/strong> to avoid system overload near the deadline.<\/li>\n<li>Use <strong>your own email and cellphone number<\/strong> (do not use someone else\u2019s).<\/li>\n<li>Double-check that all your documents are <strong>certified and legible<\/strong>.<\/li>\n<li>Keep a <strong>copy of your submission confirmation<\/strong> for reference.<\/li>\n<\/ul>\n<hr \/>\n<p>By following this guide, you can confidently apply for NSFAS funding and move one step closer to achieving your academic and career dreams\u2014without the burden of immediate financial pressure.<\/p>\n<p>&nbsp;<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Savings Calculator Term (Months)&nbsp;&nbsp; R10 000 &#8211; R24 999 R25 000 &#8211; R99 999 R100 000+ &nbsp; Nominal Effective Nominal Effective Nominal Effective 6 4.08% 4.16% 4.08% 4.16% 4.20% 4.28% 7 -9 4.28% 4.36% 4.28% 4.36% 4.40% 4.49% 10 -12 4.73% 4.83% 4.73% 4.83% 4.80% 4.91% 13 &#8211; 18 4.77% 4.88% 4.77% 4.88% 4.84% 4.95%\u2026 <span class=\"read-more\"><a href=\"https:\/\/uni1.co.za\/articles\/capitec-interest-rates\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-8867","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/uni1.co.za\/articles\/wp-json\/wp\/v2\/pages\/8867","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uni1.co.za\/articles\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/uni1.co.za\/articles\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/uni1.co.za\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/uni1.co.za\/articles\/wp-json\/wp\/v2\/comments?post=8867"}],"version-history":[{"count":0,"href":"https:\/\/uni1.co.za\/articles\/wp-json\/wp\/v2\/pages\/8867\/revisions"}],"wp:attachment":[{"href":"https:\/\/uni1.co.za\/articles\/wp-json\/wp\/v2\/media?parent=8867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}