Helps you cover additional expenses
You can choose either the fixed- or variable interest rate option
Minimum bond amount of R240 000 up to a maximum of R2 million
No deposit is required
Combine this home loan with a range of flexible options
Build your dream house from scratch
No more headaches searching for the right house
You pay interest only during building
Progress payments (max. 6) are made as work has been completed
Up to 20 years to pay back the loan
The builder must be registered by the National Home Builders Registration Council (NHBRC)
Purchase a prime holiday retreat
Invest in a property for future use
Rent out the property or keep it as a holiday home
Receive statements or check your account via Internet Banking, if you are registered with FNB Internet Banking
Receive up to 10% of your total facility amount up-front so that you don’t have to wait until your bond is registered to access your funds
Use one account for all your banking transactions
View your overall financial position at a glance as your accounts are all part of one facility, with a single statement
Pay less interest than you would if you applied for various fnb debt consolidation loans separately by taking advantage of a low interest rate normally associated with that of your home loan
Keep the same facility for life, even if you sell an existing property and buy a new home
Any deposit reduces your outstanding balance which decreases the interest payments
- Complete List
Traditional Home Loan
Take out this loan when buying an existing residential property.
Bond Plus lets you borrow 100% of the purchase price of your house plus 8% more to cover additional costs associated with buying a house.
You can apply for a building bond if you are intending to build a home. Once the building is completed, your bond will revert to a normal home loan.
This allows a foreigner or a South African who has emigrated to purchase a property in South Africa.
fnb consolidation loans
The One Account is an innovative product, secured by your home, that fulfills all the functions of a cheque account, overdraft, personal loan and home loan.
Choose the right facility for you
When applying for a facility on your home loan product, an affordability assessment will be done to find out exactly how much additional finance you can access.
You get access to surplus home loan funds 24 hours a day, 7 days a week if you have a transactional account with FNB. Alternatively, access to funds is available during business hours. Surplus funds include any prepayments, as well as a percentage of capital you have already repaid on your home loan up to a pre-determined limit.
This enables you to register a bond greater than the home loan amount you require, creating an extra amount that may be accessed at a later stage.
Withdraw any additional money that you have paid into your home loan account.
Increase your monthly instalment and save on interest. This also allows for you to pay off your home in a shorter period of time.
This gives you access to the funds that make up the difference between your original registered home loan and the outstanding balance.
Obtain funds by registering an additional amount over and above your original registered bond amount.
Interest Rate Options
For the duration of your contract period (12, 18 or 24 months), the interest rate on your home loan remains fixed and is unaffected by any rise or fall of general interest rates.
This is the standard interest rate option. The interest rate varies in line with current interest rate movements.
BA Linked Rate
The interest rate is directly linked to the publicly quoted three-month SAFEX BA rate (Bankers Acceptance Rate) and offers a highly competitive means of financing your home loan.
Home Loan Insurance
Home Owner’s Cover
This insures your house and any structural improvements to the property. This cover is compulsory with any home loan.
Home Loan Protection Plan
This plan provides peace of mind in the unforeseen events of death, temporary and permanent disability and retrenchment.
FNB acts for ex-Saambou customers
Recent media reports have made reference to possible interest rate miscalculations prior to FNB acquiring the majority of Saambou home loans in 2002.
Please note that as of 1 March 2007 eBucks will no longer be earned on home loans, but only on specific promotions. Any eBucks earned on home loans up until this date will not be affected and are still yours to spend.
This is our free messaging service. You will receive real-time notification of deposits, transfers, withdrawals and purchases on your FNB accounts via SMS and/or email.
- All information above was extracted from FNB
FNB Debt Relief Solutions
The Smart Alternative to Managing Debt
Do you have a lot of consumer debt? Consolidation is the way to manage it. A lot of people are worrying about making the monthly payments on these high interest debts but don’t know how to deal with it. Either they are oblivious to other options or they do no know where to turn to. There are those who may be aware of what to do but they do not appreciate the full benefits . Debt consolidation offers an easy way to manage your debt.
If you are struggling to keep up with your monthly FNB Credit Card repayments or simply struggling with cash flow, then FNB has come up with tailor-made Debt Relief Solutions just for you!
FNB Credit Card has custom made Debt Relief Solutionsfor you to help you increase your monthly cash flow and lower your credit card repayments.
There are two key benefits. The first is since you consolidate the loan into one larger one, the repayment becomes easier to manage. The second is since the loans are fewer in number, there are lesser bank charges. This means more savings for the customer at the end of the month.
Service fees, initiation fees, and insurance charges are not duplicated. This constitutes a fair amount of savings for customers. This obviously means more money left at the end of the month—or a quicker repayment of the total loan amount.
You can reduce the costs by as much as 20% per month. You just have to watch out for the interest rate charged. Vigilance is the key.
A customer with five R5 000 loans across different financial institutions could be paying up to R600 per month purely on administration and insurance fees. By consolidating the loans, these fees would be reduced to R283 a month with an FNB Smart Send or Personal Loan.
A R5 000 loan over 24 months will cost R427 per month (five would cost the customer R2 135 per month) and a R25 000 loan over 24 months will cost R1 698 per month (R437 saving per month or R10 488 over the 24 months).
· Choose a Debt Relief Solution
· Calculate the amount you would like to consolidate
- Choose the repayment period you want
- Set up a Auto-Payment Solution
It goes straight to your budget. Consolidate your total straight balance and your budget balance into one Budget Plan and reschedule your payments over a period from 6-60 months at your current budget interest rate. Choose a payment plan that works for you, plus you’ll get the added benefit of having funds available on your FNB Credit Card after every months repayment.
Simply consolidate your multiple budget facilitiesinto one and reschedule your repayments over a shorter or longer period at a set interest rate. This solution allows you to lower your monthly credit card budget facility repayments over a period from 6 – 60 months.
With a Balance Transfer from FNB you can consolidate any retail, store, short term or personal loan that you may have and transfer it onto your budget facility at a promotional rate for the first 9 months!
If you have been missing your FNB Credit Card monthly repayments or simply strugglingto keep up with them, there is a solution.
FNB has come up with a unique Debt Relief Solution to assist you with paying off your FNB Credit Card balance with no risk of it increasing!
The FNB Credit Card Assist Plan gives you the peace of mind of choosing a repayment period from 6 – 96 months, enabling you to pay off your credit card balance in a timeframe that suits you.
If you’d like to consider debt consolidation, speak to your bank—but find out what interest rate the consolidating institution offers. It’s obviously pointless if your loan repayments end up increasing because the interest rate they’re offering is higher on the consolidated loan than the individual loans.
Ask for a settlement quote from each of the institutions you have loans with, then take the quotes to one bank and get a quote on consolidating the debt. This quote should detail, line-for-line, every cost involved in a loan, including administration and insurance fees. If you’re not getting this, you’re at the wrong place. So be a savvy consumer and make sure you get the best possible consolidation package. The saving will be worth it.
It’s the way to go if you want a smart way to manage your debt. Based on your experience, having too much loans that you are juggling is a headache. Why not get rid of this problem by choosing the right solution to having multiple payments. Simplify your life now and choose to consolidate your debt. Do this by taking advantage of the power to settle your credit card balance on your own terms!