Homeloan Interest Rates

piranha786

Expert Member
Joined
Apr 28, 2005
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1,315
Just outta curiosity does anyone have some research on Islamic and traditional home loans and which is cheaper. I know Islamic uses a profit sharing term.
Got a quote for 0.20% above the Islamic Banking Base Rate ("prime rate") rate. but bear in mind that its "fixed" for 12 n=months.
Did not still want to go to different banks (due to ebucks)
 

SauRoNZA

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Jul 6, 2010
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jman

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May 9, 2014
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The T&C's are the thing to be careful of.

FNB will be quick to modify your interest rate if they see you've built up a nice prepaid balance, BUT part of it will be that the entire balance will be capitalized, as in you will lose all access to it.
Yeah that would suck. I use mine to keep funds for holidays and various other things
 

Hamster

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Aug 22, 2006
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Do you know what effect a financial crisis will have on your repayments?
It all comes down to your finances (buying power) and what the Reserve Bank does with regards to interest rates.

You won't feel the effects immediately like you do with your share portfolio taking a nose dive during breakfast.
 

Lupus

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Joined
Apr 25, 2006
Messages
15,011
If you move. Do you have to pay all the fees again? Do they add them to your loan?
Yes you do unfortunately, some banks offer the fees built into the loan. Last time I checked sometimes it comes in at not worth it.
 

zerocool2009

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Sep 4, 2009
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2,716
The T&C's are the thing to be careful of.

FNB will be quick to modify your interest rate if they see you've built up a nice prepaid balance, BUT part of it will be that the entire balance will be capitalized, as in you will lose all access to it.
There are such easy ways to unlock locked funds (dont the the word "locking" in fool you please)
 
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