First National Bank (FNB) offers clients a wide range of banking services to South African clients while continuing to maintain its reputation for brining innovative, ground-breaking solutions to the financial market. Forms of credit offered by the bank include personal loans, overdrafts and home loans.
FNB Home Loans include various options such as Smart Bond and Shari’ah Home Loans, among others. The bond repayments are deducted from approved individuals’ salaries.
FNB understands that buying a home can be an intimidating and confusing process, without all the right information. This is why it has a number of tools available to make the process easier, including the FNB Home Loans Calculator.
The FNB Home Loans Calculator is useful for individuals who want to get a home loan from the bank and want to get a better idea of how much they can expect to spend on monthly repayments.
What are the qualifying criteria?
- Earn a minimum gross salary of R3500
- Be a South African citizen with a valid South African ID
- Formal/permanent employment with a minimum of 12 months in current or previous employment
How to use the FNB Loans Calculator:
The Affordability Calculator will give you an idea of what an FNB home loan can offer you. You fill in your personal details and select the loan term.
The Monthly Home Loan Repayment Calculator determines the monthly repayments based on the Home Loan amount and chosen term.
Visit the FNB website and fill in:
- Total Loan Amount
- Home Loan Interest Rate
- Loan Term (max 240 months)
- Minimum Gross monthly income
- Monthly repayment
- Current monthly repayment
- Normal interest
- New interest
- The calculator works out the Interest saving
- You will be able to work out how much you can expect to pay
To find out more about using the FNB Home Loans Calculator, call: 087 730 11 44 or visit www.fnb.co.za