What is the cost (interest rate, monthly fee)?

• The interest rate for which the customer qualifies for is based on the personal credit profile and affordability.
• Credit is offered at a discounted interest rate, which means the customer will pay less interest compared to any of our other credit products.
• Once the customer has accepted the credit the customer can view your interest rate on their statement or agreement.

Is the money paid directly to TCM?

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

How soon will the customer get the money?

• Once the application has been approved, the customer will have to approve Capitec DebiCheck debit order and then the money will be paid directly to TCM.

Where can the customer apply? Can the customer visit a Capitec branch?

• Customer can apply online directly at tcm.co.za.
• Customers can scan the a QR code in-store right then and there.
• The customer must then complete 4 easy steps to see if the customer qualifies.
• If the customer does qualify, one of the Capitec’s consultants will contact the customer within 48 hours to complete the application.
• Customer cannot apply at a Capitec branch.

What is the difference between this and the other Capitec credit products like a term/personal loan?

• This is credit for specific need, offered at a discounted interest rate and over an extended term.
• Customer can only apply through the TCM webstore.
• If the customer qualifies and the credit is approved, the money will be paid directly to TCM.
• 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 the customer won’t receive a discounted interest rate or an extended term.

Can the customer I apply if the customer is blacklisted?

• No, the customer cannot apply for credit if they are blacklisted.

Can the customer apply while under debt review?

• Unfortunately, Capitec cannot provide the customer with credit while the customer is engaged in the debt review process.
• Only once the customer has fully paid up their accounts and the debt counsellor has issued a clearance certificate; will the customer be able to apply for credit again.

What are the most common reasons an application would be declined?

• There could be various reasons as to why the credit application was declined and it could vary from customer to customer. The most common decline reasons are:i.Affordability – customer does not meet the minimum affordability criteria.

  ii.Low credit score – when Capitec standard credit scoring model indicates that the credit score for the application is below the minimum required

  iii.The customer is under debt administration. Once a customer is under debt administration, Capitec is not allowed to enter into a credit agreement with the customer.

  iv.One or more of the customers Capitec accounts have been handed over to an external debt collector previously due to non-payment.

How is the interest rate calculated?

• The interest rate for which the customer qualifies for is based on the customers personal credit profile, salary details and affordability.
• Credit is offered at a discounted interest rate, which means the customer will pay less interest compared to any other credit products.
• Once the customer has accepted the offer the customer can view their interest rate on their statement or agreement.

What documents does the customer need to apply?

• The customer will need.i. A standard quote of the product that the customer is purchasing.ii.The quote must not be older than 30 days.

  iii.A Valid South African ID document/smart ID card (Must be 18 years or older. If the customer name and/or surname differs from the ID document the customer a marriage certificate, divorce court order or name change letter will be required.)

  iv.Latest 3 consecutive salary slips

  v.A bank statement showing the latest 3 consecutive salary deposits (only if your salary is not paid into your Capitec account)

  vi.No proof of residential address is needed; however, the customer may be asked to provide supporting documents to complete their application

Can the customer move an existing loan to Capitec?

Unfortunately, not.

Does the customer need to be a Capitec client to apply?

No, the customer does not have to be a Capitec client to apply.

Who could qualify?

• To apply, the customer must be 18 years or older and have valid South African ID document/smart ID card.
• The credit assessment will be based on the customer’s credit granting rules and the customers personal credit profile and affordability.
• The customer may also need to provide:i.Latest 3 consecutive salary slipsii.A bank statement showing the latest 3 consecutive salary deposits (only if a salary is not paid into a Capitec account)

  iii.No proof of residential address is needed; however, the customer may be asked to provide supporting documents to complete your application.

What is the maximum amount a customer can qualify for?

• The term and amount that the customer could qualify for is based on the customers personal credit profile, salary details and affordability:i.If the customer gets paid monthly the customer could qualify for up to R250 000

  ii.If the customer gets paid weekly the customer, you could qualify for up to R50 000

What are the benefits?

• Customers enjoy a discounted interest rate with Capitec
• Customers can repay their credit over a longer term
• Apply online and complete the application within 48 hours
• The credit is paid directly to TCM, so no further payments need to be made

What is need-based credit?

• Credit offered at discounted interest rate over an extended term, that you can use to pay for a need.
• When a customer opts for a finance solution the customer can only apply for this via the www.tcm.co.za website.
• If the customer qualifies and the credit is approved, the money will be paid directly to the TCM.

WHAT ARE YOUR TRADING TIMES?

Please see our individual store trading times to see updated times for shopping. Online shopping remains open 24 hours a day.

WHAT SHOULD I DO WHEN RECEIVING A DELIVERY THAT I HAVE PURCHASED ONLINE?

Our delivery teams will be wearing masks and will apply social distancing and safe delivery measures. You and anyone else who is receiving your delivery will be required to wear a mask while receiving your order. Please ensure you have a pen handy to sign the delivery slip. Please ensure you wash your hands or use sanitiser before and after receiving your delivery.

WHAT ARE YOU DOING TO ENHANCE CUSTOMER AND STAFF SAFETY WHILE AT YOUR STORES?

We are following all government regulations to enhance your safety and staff safety while you are shopping instore or online including screening, social distancing and appropriate hygiene practices.

DO I HAVE TO WEAR A MASK TO ENTER YOUR STORE?

Yes, as per government regulations all persons in public spaces must wear a cloth face mask or homemade item that covers the nose and mouth and you will be required to wear a mask in our stores to enhance your and other customer’s safety.

HOW DOES YOUR “CLICK AND COLLECT” SERVICE WORK?

For your convenience and in order to minimise time instore, you may browse and purchase all products on our online store and then collect in-store at our dispatch counter. Please click here for more information on our “Click and collect service”

SHOULD I DISINFECT THE PRODUCTS THAT I HAVE RECEIVED VIA DELIVERY OR COLLECTED INSTORE?

Yes. Although we sanitise products prior to dispatch or collection, we recommend that you use a non-corrosive disinfectant or a sanitiser
containing at least 70% alcohol to wipe down receipted product. Packaging material (including cardboard and plastic) should be safely
discarded and you should wash your hands thoroughly for 20 seconds after handling the packaging material.

WHAT SHOULD I DO WHEN RECEIVING A DELIVERY THAT I HAVE PURCHASED ONLINE OR INSTORE?

Our delivery teams will be wearing masks and will apply social distancing and safe delivery measures. You and anyone else who is receiving
your delivery will be required to wear a mask while receiving your order. Please ensure you have your own pen handy to sign the delivery
slip. Please ensure you wash your hands or use sanitiser before and after receiving your delivery.

WHICH PRODUCTS MAY I BUY IN YOUR STORES OR ONLINE?

All our products are legally allowed to be purchased during the current lockdown regulations. Our online stores offer both a delivery and “Click and collect” service.

ARE YOUR STORES OPEN?

Yes, all our stores and online shopping is open and comply with Government regulations with regards to COVID-19 Safety and social distancing.