Flexi Option

Allows you to deposit additional funds into your Home Loan

Flexi Option

Flexi Option allows customers electronic access to surplus Prepaid funds in their home loan 24 hours a day.

Qualify Criteria

  • Have a registered home loan in excess of R100 000
  • Customers must hold an FNB transactional account to access their funds electronically
  • The linked account must be in the same name as that of the bondholder and where the bond is in joint names, in the name of one of the bondholders
  • For Juristic entities, the linked account must be in the name of the Juristic entity
  • Repayments must be made by debit order or stop order
  • Avail of the Variable interest rate option
  • New and existing clients,
    • Individuals
    • Joint bondholders (One person is required to transact on behalf of all the other parties concerned, nominated account must be in the name of one of the bondholders)
    • Non-trading Close Corporations (One person is required to transact on behalf of all the other parties concerned, nominated account must be in the name of the juristic entity)
    • Non-trading Companies (One person is required to transact on behalf of all the other parties concerned, nominated account must be in the name of the juristic entity)
    • Trusts (Transfers can only be made to an FNB banking account, in the name of the Trust)
  • HOC must be in place, up-to-date and meet the lender’s requirements. The lender reserves the right to withhold funds until proof of such cover has been received.
  • The customer must not have an adverse credit bureau record
  • The customer must not have given notice of cancellation of the original agreement
  • It is a condition of this option that the original term of the agreement remains unchanged.

Features:

  • You can transfer any prepayments they have made, a minimum of R1000.
  • An unlimited number of transfers allowed daily/monthly to nominated FNB account.
  • Funds are accessible via FNB ATM’s and internet banking.
  • Free interim home loan statements via FNB ATM’s.
  • Free detailed home loan statements via Internet & Branch.
  • Ideal for financing other expenditures.

Exclusions:

  • Fixed-Rate or BA Linked Rates.
  • Vacant land & Building Bonds, or where the property is incomplete.
  • Commercial or Small Holdings.
  • Homeloans in arrears.
  • Customers under debt review, or under special repayment arrangements with the lender.
  • Homeloans with a third party collateral security
  • Flexi Option is not available to Foreign Nationals. For Non-residents (all bond holders must be in possession of SA identity document or Smart Card identity document).
  • Bonds that are under cancellation.
  • The customer must not have given an instruction related to Substitution of Debtor