FNB One Account

[Dolby]

I have a standard flexible bond right now

- Is it possible to convert from Flexi to One account?
- Is it expensive?
- Does it make any difference if I intend to pay off most my bond in a year?

 

[F1 Fan]

I have a standard flexible bond right now

- Is it possible to convert from Flexi to One account?
- Is it expensive?
- Does it make any difference if I intend to pay off most my bond in a year?

-No
-Yes, very. I think it is R280 a month
-No. One Account only makes sense if you have multiple properties on your name. For one property only, it does not make sense. If you speak to a consultant from FNB, they will tell you the same.

 

[Dolby]

Damn.

Thanks

My goal is to have cheap money by yeat end. So my bond is running at 8.2% any by year end I can settle. The initial plan though is to settle 98% and at least it keep it running for cash if I need.

I tried the other day to get that rate down, but they declined

I see on the site a One account is like a cheque account with a large overdraft. As a cheque card runs at higher interest I thought at least an overdraft at 8.2%

 

[Dolby]

It seems you can convert actually

https://www.fnb.co.za/home-loans/convert-from-a-home-loan-to-a-one-account.html