Capitec Bank is launching its first full home loan offering in partnership with SA Home Loans. CEO Gerrie Fourie explains. Capitec is South Africa’s largest bank based on number of clients.
It’s now announced the launch of its first full home loan offering in partnership with SA Home Loans. With interest rates at a historic low, first-time buyers are being encouraged to take the plunge. Capitec’s move is in response to client demand says its Executive of Marketing and Communications, Francois Viviers.
“We’ve continually received requests from both clients and the public asking us to challenge the norms of home loans as we have done with banking.”
Viviers promises the user-friendly online application will take less than five minutes to complete.
Bruce Whitfield chats to the bank’s CEO, Gerrie Fourie.
In the past we actually sold it as SA Home Loans… We’ve now branded it Capitec… It’s a Capitec product but it’s supported by SA Home Loans.Gerrie Fourie, CEO – Capitec Bank
We also looked at all the processes and everything that goes with that to make certain that it’s in line with our philosophy of simplicity, and transparent…Gerrie Fourie, CEO – Capitec Bank
It’s not Capitec’s first partnership notes Fourie.
“We believe in partners where it makes sense.”
We’re very good at selling and distribution and they’re good at their game, so we believe then we create something unique for our clients.Gerrie Fourie, CEO – Capitec Bank
If you look at pricing… it will be 6% for very good clients… There’s prime minus one…Gerrie Fourie, CEO – Capitec Bank
You will be evaluated on your credit risk and you will then get an appropriate interest rate.Gerrie Fourie, CEO – Capitec Bank
In the last couple of years we’ve actually moved away from that traditional one-to-six month market…Gerrie Fourie, CEO – Capitec Bank
The Money Show – Talk Radio 702