FNB - does your account type affect mortgage/bond interest rate offered?

[air]

Hi
If I applied for a bond while having a platinum account versus a private bank account, would the interest rate offered differ?

From a credit card perspective, the difference was almost 6% - not an issue for me, as I try my damnest to settle in full every month

I appreciate your input.
air

 

[Gtx Gaming]

yes you do get a better rate if you have private banking , for basically everything involving the bank lending you money.

 

[HavocXphere]

If you look like you don't need money then the bank will give you money. So yes higher end banking product tend to offer better terms as the risk is somewhat lower.

 

[mountainboy]

Yes, you do but ppl who qualify for private usually knows their benefits- do you qualify?

 

[HavocXphere]

Yes, you do but ppl who qualify for private usually knows their benefits- do you qualify?

Interest rates are usually set on a case by case basis, so any advantage would likely not be quantified and published as a "benefit".

 

[BrrIan]

Hi
If I applied for a bond while having a platinum account versus a private bank account, would the interest rate offered differ?

From a credit card perspective, the difference was almost 6% - not an issue for me, as I try my damnest to settle in full every month

It makes no difference to the home loan rate. They will look at the loan amount, what you earn, your existing debt and your credit history.

The cards each have their own criteria and rate range. The assumption is that the customer that takes the higher level card is going to spend more money and hence earn the bank more money, therefore they get a better rate.

 

[P924]

It makes no difference to the home loan rate. They will look at the loan amount, what you earn, your existing debt and your credit history.

The cards each have their own criteria and rate range. The assumption is that the customer that takes the higher level card is going to spend more money and hence earn the bank more money, therefore they get a better rate.

They also look at the property valuation compared to the price you are paying and the bond amount applied for. This is one of the biggest factors in determining risk. Then your personal profile as well. It all comes down to the risk they are taking vs the reward.