Cut your total bond repayment by R100 000

SA Mortgage Managements Tips:

In previous articles we explained the first two steps to reducing for mortgage debt
Step 1: Eliminate Short Term Debt
Step 2: Increase you monthly repayments slightly

Let’s now take a closer look at Step 3 – Paying lumps sums and bonuses into your homeloan account.

Step 3: Pay lump sums and bonuses into your bond

Pay more when you can as this can give you breathing room later on.

If you deposit a lump sum of R20 000 at the end of the first year of your bond (R450 000 at 12% over 20 years), you save R144 000 in interest over the remaining period and cut 33 months from the bond term.

These extra deposits into your home loan, whether monthly or lump sum, also yield tax free interest savings.

Access Bonds offers you the flexibility to withdraw your lump sum deposits when ever you need it if you.

Step 4: Don’t lower your home loan repayments when rates drop

Speak to one of our Mortgage Consultants now about applying for a Mortgage Re-advance:

Click here to complete the short online form,
Or email:,
Or call: 021-4472401.

1 thought on “Cut your total bond repayment by R100 000”

  1. Good day,

    I need some advice please:

    My story:

    Last year I sold a vehicle I do not want anymore for R140 000. What I did was paid the said amount into my bond account with FNB. They want me to restructure my bond but I do not know how to structure to benefit me the most?

    They said that they will reduce my monthly payment but not the loan term? What options do I have?

    Please give me advice on what to do????

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