Smart Bond is a housing finance solution for applicants earning a monthly household income of R15 000 and below. With Smart Bond, approved customers are able to enjoy 100% bond finance, i.e. there is no deposit required.

More about: Smart Bond Overview

Why do I need this?

  • This is an affordable housing finance solution
  • This will enable you to realise your dream of owning your home
  • You will be able to provide a home for your loved ones
  • Owning your property assists with wealth creation and is an investment
  • Owning your home generally gives you freedom and independence

    • What can I do with this?

  • An opportunity to get a bond that does not need to pay a deposit upfront (100% bond finance is approved)
  • Option to have a 5-year fixed interest rate
  • Variable interest rate
  • Home-ownership education programme is provided to first time home buyers – for FREE.
  • Minimum loan amount is R20 000
  • Repayment period is between 5 and 20 years
  • The monthly bond instalment is deducted via debit order or payroll deduction facility.
  • Death and permanent disability covers are available
  • Home-ownership cover (HOC) is also offered
  • Loan cover (bad debt insurance) is available

    • What will it cost?

  • The interest rate you qualify for will be determined via individual pricing methodology we apply
  • A monthly administration fee of only R39.90 is charged (Vat inclusive)
  • A once off initiation fee of R3 990 will be charged (Vat inclusive)

    • Do I qualify?

    To qualify for Smart Bond, the following is required:

    • You need to be a South African citizen, formally or self-employed
    • Your salary/income must be paid into a bank account
    • You must not have had judgments and/or defaults of more than R1 000 against you in the last 12 months
    • The property you intend to buy must be acceptable for lending purposes
    • Your bond instalments must be paid via a debit order or payroll deduction facility

    You should still be able to afford your bond instalments, including the following:

    • Current expenses and other monthly debt instalments
    • The new expenses relating to the new home you are buying

    You can get this at:

    What do I need to do?

    Complete Smart Bond application form and hand it to the consultant / fax it to 086 560 1224 together with the following documentation:

    • A copy of your valid Identity Document*
    • Your latest salary advice/pay slip*
    • 12 months’ bank statement if you are self-employed and not banking with FNB
    • Details of the property you are buying

    *For you and your co-applicant where applicable.

    Legal:

    Once your bond has been approved, you will be required to sign a loan agreement that stipulates the conditions, requirements and responsibilities pertaining to you and the bank.