Get Smart with an An FNB Smart Bond (similar to a cash loan) is a first-time home buyer’s home loan that helps lower income groups to buy their own home, or to refurbish their existing home.
An FNB Smart Bond is only available to SA citizens who’ve been employed for an uninterrupted period of 12 months, who have a bank account and who are looking to buy a home priced at no more than R600 000.
The Smart Bond has been specifically designed for individuals who earn a gross monthly salary of between R3 500 and R25 000. In the case of joint applications, each applicant should earn no more than R25 000 per month gross.
A Smart Bond offers customers:
- A 100% bond, with no deposit required
- A comprehensive home-ownership programme that’s free
- An option to fix your interest rate for a 5-year period
- An option to apply for additional funds in the form of a Smart Bond Re-advance or a Smart Bond Further Bond, and
- An opportunity to buy a house within a network of high quality property developments
- Interest rates (variable or fixed) will be calculated according to the risk profile of each applicant
- An initial fee of R5 700 inclusive of VAT will apply, and thereafter a monthly fee of just R57 inclusive of VAT is payable
Rates and Costs