Fixed interest rate

Would you like the certainty of knowing your home loan repayments are the same every month? You can fix the interest rate on your Absa home loan for a specified period of time - 12, 24, 36, 48 or 60 months.

With a fixed interest rate, your home loan interest rate stays the same for the specified period, regardless of whether home loan rates rise or fall. Fixing your interest rate is a good option if you are refinancing at a time when interest rates are comparatively low.

What you get

  • Protection against rising interest rates
  • Regular payments with no surprises
  • Better budgeting and cash flow management, since your instalments don’t vary with interest rate fluctuations
  • You can apply to fix your interest rate on any loan amount
When your fixed rate contract expires

  • Your home loan will automatically revert to the prevailing home loan variable rate the day after expiry
  • You can apply for a new fixed interest rate contract two days before your current fixed interest rate contract expires
  • If you accept the quotation, the new contract will only take effect after the expiry of the old contract and at the prevailing fixed interest rate
If you cancel your bond

  • The fixed interest rate option will end when you sell your home or when your bond is fully paid up
  • Early termination interest will be levied if you cancel or suspend the agreement
  • We require at least 90 days' written notice of your intention to settle your home loan. Should you not give the required notice, we may charge you the 90 days' interest
If you cancel the fixed interest rate option

A penalty will be charged to your account. This penalty will be applied on a pro rata basis for the unserved period on the outstanding balance.

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Complete a secure application form online

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