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What Are the Interest Rates of First National Bank Home Loan? Calculator and Contact Information

Do you find it difficulty in getting your own home? Are you in search of a proper financing to facilitate home purchase? Stop looking for it. You have just found what you need. First National Bank is considered among the best four banks of the country. This is due to its exceptional services that South African’s citizens choose every single day. Among the most convenient services, there are lending products that facilitate money so that people can buy whatever they need. And among those products, there are really convenient home loans that are helpful when it comes to buying a place to live.

                In this article, we will try to describe in full home loans. In order to be specific, the bank offers two different ways of getting your home: buying or building. If you keep on reading this article, you will find the features of these alternatives as well as how it is possible to have access to them. What is more, we will show you which are the requirements that you have to take into account.

                In the first place, let’s talk about loans destined to finance home purchase. Based on your monthly income, you can apply for different amounts of money. Such amount of money can be financed in different ways. Actually, there are programs with fixed or variable in interest rates that can be repaid in periods that go from 12 to 60 months. It is important to highlight that the minimum amount of money available is of R100000.

                In order to show you how financing works in real life, we will describe some possible quotes and rates based on the online calculator that First National Bank has in its official webpage. Imagine you want to buy a home of approximately R750000 and you want to pay it in a period of 20 years. In this case, you ask for an interest rate of approximately 10%. Before knowing how much money you will have to pay monthly, it is important to mention that FNB mortgages require a initial payment. In this case, you will have to pay R32985, which includes bond costs, transfer fees and closing costs. Then, you will have to make 240 payments of R7487 plus additional fees of R68.

                In the second place, you can to apply for a building loan. In this case, the money you borrow should be specifically used to finance building. Constructions loans are available for those who have a field or those who cannot find the kind of home they are looking for. It is important to know that the building should start within a period of three month after the loan in approved and it should finish in one year.  

                As far as financing is concerned, there are interest rates that can be either fixed or variable. And principal and interest rates can be repaid in a period of up to 20 years. Bank agents will require a deposit of 10% of the complete loan that will be used to affront expenses and additional fees.

                In case you are interested in one of the options developed above, you will have to follow these requirements. First, you have to be a South African’s citizen of no less than 18 years old. Secondly, you have to show your last three slip so as to guarantee income. Third, you need a proof or your current address. And last but not least, if you are married, the certificate is compulsory.

                Once you have everything ready, there are many ways to start application:

By phone: getting your own home can be really easy. In fact, you can get it from the comfort of your sofa. First National bank has two lines that are destined to answer questions or to start application. You can dial up 087 730 11 44 or 0861 40 40 40 from Monday to Saturday from 8 a.m. to 5 p.m.



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Via internet: if you visit the official First National Bank webpage, you can choose the loan you want and start application with a single click. If before applying you prefer to clarify some inquiries, don’t hesitate to write e-mails to these addresses: personalloans@fnb.co.za and homeloans@fnb.co.za.

In person: when it comes to money, there are many people who prefer face to face support. In order to reach as many South African people, there are many offices that you can visit:

                *In East London, the exact address is 17Devereux Ave. Mortgages agents wait for you during typical operating hours either in person or by phone dialing up 43 704 3300.

                *There are also offices in the area of Randburg. You can find a branch located at 396 Kent Ave that is open from Monday to Thursday from 9a.m. to 5p.m., on Friday from 8.30a.m. to 5p.m. and on Saturday from 8.30a.m. to 10p.m.  In case you to contact agents before going in person, you can dial up 11 369 1111.

                *In Johannesburg, there is an office at 3, First Place, Pritchard St & Simmonds St, Bank City. This office is open during the week from 8a.m. to 5.30p.m. and on Saturday from 8a.m. to 1p.m. On Sundays, lending specialists are not available. During the same office hours, you can call the branch by phone calling 11 688 9900.

Please take into account that there are many more offices scattered around the country. Just choose the one that is most convenient for you and go on!

                All in all, there is no way to keep on renting. Thanks to the convenient programs carefully designed by experts of First National Bank, getting your own home can be really easy. You can take advantage of money available either to buy or to build your home so as to live whenever you want. Both loans are available in person, by phone or online so that you don’t have any excuse to apply for them.

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Questions and Answers

Do I need insurance for the home loan?
Yes, you need.
Can I make accelerated repayments?
Yes! You can pay the loan whenever you want.
What happens if I don’t finish building in one year?
You can agree a new term with the bank.

Leave your rating about What Are the Interest Rates of First National Bank Home Loan? Calculator and Contact Information

(5,00) / 3 Ratings

Rating: 5
Comment: Application is really fast.
Rating: 5
Comment: Transfer costs are high sometimes.
Rating: 5
Comment: With construction loans, you pay your home when it is in the building process.

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