What kind of interest rate is your repayment plan on?

When you start paying back your home loan, you will be on a variable rate, which will vary if the prime interest rate goes up or down.

Your variable rate is linked to the prime lending rate as determined by the South African Reserve Bank (SARB).

You will have the opportunity to change to a fixed interest rate if this suits your financial situation better.

Variable income rate

When the prime lending rate changes, your home loan interest rate will also change, increasing or decreasing your monthly instalment accordingly. In case of a decrease, we recommend you continue to pay your original monthly instalment amount to help you pay your loan off faster.

Fixed interest rate

You may set a fixed interest rate for a specified period to keep your monthly instalments from changing as the prime rate changes. A fixed interest rate is a good way to take charge of your finances as it keeps your monthly instalments the same, meaning that you'll always know what you're going to pay.  We offer fixed rates for 12, 24, 36, 48 or 60 months.

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