
Home Loan Products
Home Loan Products
30 Year Home Loan
Minimise your monthly instalments with this bond, calculated over a longer term.
Our 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.
Here are the benefits of and criteria for our 30 year amortising loan:
- 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. - It’s important to understand that, because of the longer term of the loan, the total cost of a 30 year home loan will be higher than a 20 year bond.
For example:
Term of loan | Home loan amount | Interest rate | Monthly instalment | Total cost of loan |
---|---|---|---|---|
30 years | R1 000 000 | 9.25% | R8 226 per month | R2 961 631 |
20 years | R1 000 000 | 9.25% | R9 158 per month | R2 198 080 |
The above amounts are indicative only.
Terms and conditions apply to all products. The availability of lending products is subject to our credit policy as amended from time to time.