A student account makes it easier for students to save money and have a bank account while getting some benefits. Student accounts also make it easier to have access to student finance like student loans. Does Capitec bank have a student account and how do you apply for it.
No, Capitec Bank does not have a student account. Students have to use the Global one account just like everyone else. With a monthly admin fee of R5 and a minimum balance of R25, it’s still cheaper than actual student accounts from other banks.
Benefits of having a student account?
Why exactly should you have a student account instead of a normal cheque or transactional account? It all boils down to the benefits, student account holders receive a lot of perks and benefits.
Banks offer you a student account with the hopes that you will continue using their services even after you are no longer a student. They familiarize you with their bank and how it works and hope that you won’t change when you make it to the workplace.
Benefits include paying lower rates, an interest-free overdraft and ease of access to student financing. Some banks require account holders to pay a monthly fee, students don’t have to pay that fee.
Getting access to student finance is also easier if you are applying for financing from the same bank. Absa gives you free data (100mb) every month, you also get food vouchers and gym membership discounts.
Conclusion
Capitec Bank doesn’t have a student bank account, the above are some benefits of having one. It is offered by most of the other popular banks in South Africa. Do you have any thoughts or questions? Comment below.
