FNB Smart Bond – Another type of loan that people perceive to be fairly technical is a bond. Bonds are exactly like loans save the different term and perhaps a few features.
FNB offers the Smart Bond for South Africans who have a total household income of up to R25,000 and this bond can be used for a variety of purposes including keeping a 100% deposit on a home you like or renovating or building your current one.
The bond needs to be paid back with 5% fixed annual interest rate most likely for 5 years but can depend on every debtors’ financial condition. There is also an opportunity for the debtor to apply for a further loan known as the Smart Bond Re-advance or Smart Bond Further Loan while FNB also offers assistance to first time home buyers in finding a suitable but affordable home. This will ensure that the debtor is not only able to afford his current expenses plus the amount required to build or renew his new home.
Tel: 087 736 6000
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