Bond interest rate

[snail]

So ABSA offered me prime + 0.21% for a home loan of R1.35mil less R200k deposit so R1.15mil.

I declined their offer and they came back with a "final offer" of prime + 0.01%.

I declined their offer yet again, even though they said that would be their "final offer". They eventually came back with a rate of prime - 0.2%.

Moral of the story...dont just accept what banks offer first time around.

 

[supersunbird]

Well played snail, well played

 

[Fuzzbox]

You caved in too soon.
I have interest rate of 1,5% below prime
Max is 2% below.

 

[snail]

You caved in too soon.
I have interest rate of 1,5% below prime
Max is 2% below.

When did you register your bond?

 

[bromster]

I got prime -0.2 with Nedbank a few months ago.

I doubt if banks are giving prime -1 at the moment.

 

[xodosman123]

stuff absa i hate that bank...

 

[IziWhatNow]

Well done. Did you not apply at other banks too?

 

[snail]

Well done. Did you not apply at other banks too?

No, i went directly to ABSA as they have a home loans promotion running.

 

[zerocool2009]

I got prime -0.2 with Nedbank a few months ago.

I doubt if banks are giving prime -1 at the moment.

A friend of mine bought a house last week (signed the OTP and got prime less 0.5% with SA homeloans). That aint bad at all !

 

[zerocool2009]

I got prime -0.2 with Nedbank a few months ago.

I doubt if banks are giving prime -1 at the moment.

those days are way, way gone !

 

[Jehosefat]

those days are way, way gone !

I got Prime -1 from Investec about a month ago. Granted I did put down a 50% deposit.

 

[IziWhatNow]

I got Prime -1 from Investec about a month ago. Granted I did put down a 50% deposit.

Were you an Investec client before that? Is this on a residential or commercial property?

 

[Jehosefat]

Were you an Investec client before that? Is this on a residential or commercial property?

Residential. I had an account with them that I never used, but that rate was on condition of moving all my banking to them.

 

[zerocool2009]

I got Prime -1 from Investec about a month ago. Granted I did put down a 50% deposit.

What was your purchase price ? And I assume you did the 50% deposit

 

[Napalm2880]

Residential. I had an account with them that I never used, but that rate was on condition of moving all my banking to them.

:wtf: and a 50% deposit. You must have really wanted a low interest rate?

 

[zerocool2009]

Were you an Investec client before that? Is this on a residential or commercial property?

What perks do you get to bank with investec ?

I don't think any bank would beat what I am getting at FNB

 

[Napalm2880]

What perks do you get to bank with investec ?

I don't think any bank would beat what I am getting at FNB

Well for one, you get 1% below prime interest rates

EDIT: Had a friend who worked for FNB and Investec gave him a better interest rate on his bond.

 

[zerocool2009]

Well for one, you get 1% below prime interest rates

EDIT: Had a friend who worked for FNB and Investec gave him a better interest rate on his bond.

Anything else besides that ?

 

[IziWhatNow]

What perks do you get to bank with investec ?

I don't think any bank would beat what I am getting at FNB

I'm not at Investec (don't think I qualify) but would like to know if its a requirement to apply for a bond from them

 

[zerocool2009]

I'm not at Investec (don't think I qualify) but would like to know if its a requirement to apply for a bond from them

I confirmed this morning I can open a TFSA (without banking at them). How does 8.3% pa sounds for interest ! not bad I would say