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
