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Our conditions

Our conditions stipulate that the policy must:

  • Be ceded to FNB with outright cession rights (if a policy is ceded, the right of the cessionary takes precedent and will be paid before any payments to nominated beneficiaries)
  • Contain the start date and total amount of cover
  • Ensure that, in the case of joint account holders, all bond applicants have Life Assurance to the value of the total registered bond amount

Other requirements

  • The interest of FNB must be noted
  • Confirmation of mortgagee clause
  • Confirmation of premium and insured amount
  • Confirmation of SASRIA cover
  • Confirmation of Personal Liability Cover

Accessing Funds

Additional finance when you need it

Require more finance or access to cash? When the need arises for renovations, further properties or a big expense, these options can offer the funds you require.

Prepaid option

Add + access funds

What the Prepaid option offers me

  • Additional funds paid into your home loan, over and above your monthly payments
  • Access to cash without having to apply for another loan

What this allows me to do

  • Withdraw the additional funds if required
  • Save a substantial amount of interest over the term of the loan
  • Pay lump sums or additional funds into your home loan. Your monthly repayment will remain unchanged in order to allow you to easily withdraw the additional funds.
  • Apply for a minimum prepaid amount of P10 000 as the minimum withdrawal amount is P10 000
  • An initiation fee will be applicable and your home loan pricing and interest rate may be affected


Withdraw funds from your existing home loan

Access funds easily

Withdraw cash already paid into the home loan

Stretch your loan

You get an extended term loan in conjunction with the application

Further lending

Access to funds without undergoing a bond registration process

Home owners cover

Get the cover you need

Residential properties are prone to damage from fires, flooding, burst geysers, plumbing and natural disasters. HOC is therefore absolutely essential, as it covers these damages and losses to property.

In terms of our home loan agreement with you, HOC is a requirement. The property remains security of the bank, it is therefore a requirement that you take out adequate cover for the duration of the loan.

A suitable HOC insurance is conditional and subject to the bank's approval, irrespective of the underwriting insurer, prior to registration of your bond; and has to be maintained for the duration of the loan agreement. Any insurer may be used as long as the bank's requirements are met within the terms of the policy.


Life Assurance

Insurance for life's uncertainties

Life is full of uncertainties, and no one plans to die and leave their loved ones with a financial burden.

In the absence of knowing what the future may hold, you can prevent that your loved ones face additional financial troubles when dealing with your death, as this in itself will be distressing. You may be required to supply Life Cover prior to the registration.

You have the choice of either accepting FNB Life's competitive Life Assurance quote called Embedded Life Cover Plan which will cover the outstanding balance of the loan, or you could insure the value of the home loan with an acceptable underwriter, subject to the policy having sufficient cover to pay off the outstanding balance, or registered bond amount, at the time of cession. Please note that FNB can reject any proposed credit insurance if it is not suitable.


Getting it made easy

Accessing funds

How to get it

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Other ways to apply

Contact us

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