Standard Bank Access BondsHome Loans have changed a lot in recent years, banks now offer home owners a range of different types of bonds. Each type of home loan has its advantages and disadvantages, and therefore to ensure you’re making the right choice you’ll need to know what each product offers.

Types of Home Loans: Access Bonds

A Standard Bank Access Bond offers you a unique and effective money management facility. The Access Bond allows you to access any surplus funds in your home loan account. With this home loan product you’ll be able to deposit into and withdraw any extra funds from your mortgage account to any linked account.

The benefits of an Access Bond:

Because interest on a home loan is calculated daily, one of the main advantages to having a Standard Bank access bond is that by depositing some extra money into your account you will be able to reduce the amount of interest charged on your bond.

The extra funds are not locked into your bond though, when ever you need the surplus funds you’ll be able to simply withdraw it.

Savings Account or Access Bond

Why would you want to deposit extra funds into your Bond if you could put it into a Savings Account which will earn interest?

While you will be earning interest on any money saved in your bank account the interest charged on the outstanding amount on your bond is much higher. So it makes more sense to put those extra funds into your mortgage account and lower the amount of interest charged to it.

Remember, You’ll still be able to withdraw those extra funds whenever you need it.

Home Loan Tools:
Apply Online
Bond Calculator
Prime Interest Rate History

Do you have a question or need more assistance with applying for a Standard Bank access bond?

CONTACT US

For more assistance with regards to applying for Home Loan finance please contact one of our consultants.
Email: olen@propertyloans.co.za
Ph: 087 625 0590
or Complete This Request Form Online