For many who come across solution a couple and you may pay within the a bit less, then effectively the bank taps on pre-paid down total top-up towards modern payment

Alternative 2 means that I will not be able to availability some of the money in the event the pay the complete count.

If you’d like to help save desire and click to find out more you will and so pay back your mortgage eventually but still features complete availableness then you have to select option one to.

In principle you could only settle your house financing however, keep the credit line available if you wish to mark involved at some point

I’ve multiple home loans, that have ABSA and you will std lender

I chose the Flexi alternative with FNB when applying for good smart bond and you will my absolute goal should be to reduce my personal month-to-month installment payments while i put even more financing. Will you to definitely takes place otherwise commonly the funds attend reserve to own upcoming play with?

If FNB requisite one to open a free account with them to have the bond app you should check if it requisite a specific account instance: Silver Membership. Otherwise, Effortless ‘s the cheapest

My personal flexi bond that have fnb is paid up 5years ahead of final percentage date. We intend to borrow on it when you look at the 24 months for home improvements. Should i but not deposit a lot more money with the account to build up a forced saving to draw abreast of you to recovery time?

You will find an accessibility bond that have Financial institution and you will I’ve observed that each and every week in the event the financial debits my personal cheque account fully for the text amount, a comparable amount in addition to will get deducted regarding available financing inside the my personal availability thread. That it cash is upcoming returned just after ten-a dozen weeks to my availability thread. We have requested the lending company why this is accomplished and so they couldn’t render me an obvious explanation and only said that this is one way the system performs.

Your debt all of them those funds at the time it issue brand new report so it’s smaller from your own harmony. It is upcoming repaid into money from the cheque account. As to the reasons it requires 10 weeks is the matter and you can a challenge for my situation with respect to notice each day counts as focus are computed daily…

I agree, brand new ten months is just too big enough time. I understand i’m able to has actually conserved a large amount of notice more last five years.

My personal debit order is on the first day of this new times. We spend more R5000 toward most of the home loans to the 25th, can it let? Otherwise that is the ultimate go out to blow extra? Many thanks

Interest percentage is calculated day-after-day so that the earlier you pay their payment the better. But not, brand new much larger kicker is the fact that the you are using inside most to start with. All of the a lot more rand you only pay in most visits pay the money and you can settles their financial at some point

Hello Maya. What happens when the access bond is more than the balance on the mortgage? Is it possible you consistently spend instalments, without attract, until you ount?

Hey Maya. I have flexi thread membership with fnb. I need my salary to this account every month prior to debit instructions, for approximately fifteen weeks and you will transfer it having debit requests with the history go out. The main city amount does not appear to dump. Could it be bad tip to achieve this. Yards

You actually was protecting a bit of interest however, a fairly touch it won’t necessarily make a positive change

As to why can’t banking companies improve amort harmony open to their clients in order that we could precisely plan our very own funds and you will know precisely exactly what will be accessible so you can all of us within our supply bond in advance of we make extra payments?