FNB Smart Bond Loans – There comes a time in people’s lives when they have to move out of their mothers’ nest and build a home of their own. Perhaps some people are tired of renting and don’t fancy the idea of paying someone else’s bond anymore. Unfortunately not everyone earns enough money to get a bond and have property they can call their own.
Smart Bond Loan is the right product from FNB which helps get people their own house under R600 000. Through this unique product people can build a house, buy it and/or renovate it. FNB will finance the house with no deposit required from the client. While interest will be determined on the client’s individual risk profile, they have the option of a fixed five-year interest rate or a variable interest rate. FNB transactional account holders qualify for a preferential interest rate.
To qualify for FNB Smart Bond Loans applicants must be South African citizens, employed for an uninterrupted period of 12 months and must earn a monthly gross salary of between R3 500 and R25 000. The applicant’s salary must be paid into their account by their employer and if their employer allows monthly deductions can be taken directly from their salary or via debit order. Clients will pay a monthly admin fee of R57 including VAT and a VAT inclusive once-off initiation fee of R5 700.
Other benefits of applying for a Smart Bond Loan include access to additional funds through the Smart Bond Re-Advance or Smart Bond further Bond, a free comprehensive home-ownership programme and an opportunity to buy a house within a network of developments. When applying for a Smart Bond Loan, clients need to provide a payslip, three months bank statement and a duly signed offer to purchase. For joint application dual documents are required.
To apply for FNB Smart Bond Loans and to get more information about FNB and other products on offer, clients can visit their nearest branch, call 087 736 6000 or complete the call me back form on www.fnb.co.za. Alternatively clients can fill in a Smart Bond Loan form and fax it to 011 543 0007 or e-mail it to firstname.lastname@example.org.