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Product Guide: SA Home Loan

SA Variable Home Loan

Comparison Overview:

  • Product Category: Variable Home Loan
  • Minimum Monthly Income: -
  • Interest Charged: 9.25%
  • Monthly Service Fee: -
  • Initiation Fee: -
  • Minimum Age: -
  • Maximum Age: -
  • Max Repayment Term: 20 Years
  • Insurance Options: In house - bond protection, homeowners cover

Product Overview

A Home Loan with competitive interest rates and innovative optional extras.

Benefits

  • Interest rate is variable and is tailored to your risk profile.
  • Flexible term up to 20 years.
  • Switch to SA Home Loans and benefit from the Quick Cash option before registration: get up to R75 000 in cash within 72 hours (or up to R150 000 as soon as you’ve signed your bond documents) to use as you please.
  • Access surplus funds on the value of your property, through a variety of further lending options after your home loan is established.
  • In-house insurance options available: bond protection and home owner’s cover.

SA 30 Year Home Loan

Comparison Overview:

  • Product Category: 30 Year Home Loan
  • Minimum Monthly Income: -
  • Interest Charged: 9.25%
  • Monthly Service Fee: -
  • Initiation Fee: -
  • Minimum Age: -
  • Maximum Age: 45
  • Max Repayment Term: 30 Years
  • Insurance Options: In house - bond protection, homeowners cover

Product Overview

Minimise your monthly instalments with this bond, calculated over a long term. This 30 year home loan is an amortising, variable rate product which offers greater cash flow flexibility due to a lower instalment. This enhanced affordability is particularly helpful for home buyers at the beginning of the life of their loan.

Benefits

  • Term of 30 years.
  • Interest rate is variable and tailored to your risk profile.
  • This product is only available to clients purchasing a new home but not to clients wishing to switch their existing bond.
  • There are borrower age criteria: maximum age at grant is 45 years.
  • In-house insurance options are available: bond protection and home owner’s cover.

SA Edge Home Loan

Comparison Overview:

  • Product Category: Edge Home Loan
  • Minimum Monthly Income: -
  • Interest Charged: variable
  • Monthly Service Fee: -
  • Initiation Fee: -
  • Minimum Age: -
  • Maximum Age: -
  • Max Repayment Term: 36 months - then further 240 months
  • Insurance Options: In house - bond protection, homeowners cover

Product Overview

Pay the lowest instalment - only the interest - for 3 years before reverting to a standard amortising loan, allowing you to afford the home you really want.

Benefits

  • Ideal for clients who want to buy 'up' now - knowing their income will grow to match their repayments.
  • Pay the interest only for the first 36 months - the lowest instalment possible.
  • At the end of 36 months, the loan reverts to a standard variable loan over 240 months, with all the same benefits and features.
  • No capital payments at the end of the term - your home is fully paid off.
  • You still have the flexibility of paying off capital in the first 3 years if you choose (for example, by fixed monthly debit order), reducing the capital balance and thereby saving you interest.
  • Unique in the market - no other home loan product offers these features and low initial instalments.
  • In-house insurance options available: bond protection and home owner’s cover.