FNB One Account

Dolby

Dolby

Honorary Master
Joined
Jan 31, 2005
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I'm on a normal Flexi homeloan right now and have been for 2.5 years since I got my bond.

I was wondering if one could migrate from the standard >>> One Account once a contract has started and how much that'd cost? ie R100s or R1,000s to convert?
 
Probably no cost to convert as it is just a different type of homeloan account.

I don't think it is worth moving over, the monthly fee is like R285 a month. Also, it does not make sense when you only have one homeloan, only if you have multiple. That's what I was told atleast.
 
One Account is great if you have lots of cash passing through your account that might sit there for a couple of days before being used. They count this balance against your home loan and this will reduce your bond interest.

But I see now its not cheap and I would rather pay that extra R185 into my bond each month than on bank fees. (<-- I was bummed FNB reject my One-Account application but now I'm glad they gave me a standard Cheque Account)
 
You have a flexi account, just move you cash in and out as you need it. Its a bit of admin for you though.
 
I looked at this some time back and the extra monthly costs negated any benefit I might have made from having extra money in my account.
 
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