Are you interested to learn about the Absa home loans rewards in South Africa? Then check out this guide.
Absa motivates you to take a home loan to build a home or buy property by offering you cash rewards.
You are automatically registered for the Absa rewards program when applying for a home loan.
We will first show you the essential things to note about these rewards.
What You Need To Know
You can make additional payments to your home loan at any stage to reduce your interest cost and increase your rewards.
You get 75 reward points for having a minimum debit order balance ofR5 000 on your home loan.
The debit order will go towards your monthly repayments.
You, therefore, will need to have a debit order for one or more of the transactions on your Absa transactional account.
You have to get a short-term or long-term insurance policy for your home loan to get insurance points.
These are the key things to note about Absa home loan rewards in South Africa.
Absa Home Loans Rewards
You get 0.5% cashback on the value of your home loan up to a maximum of R6 000.
You have to register for a bond first to get the cash reward.
You get a waiver of the 90-day early termination charge on the existing home loan account to be settled.
The calculation for the early termination charge will be the difference between three months and the period of notice of settlement given by the customer.
You also get cashback on the homeowners’ insurance cover taken if you don’t claim it for three years.
These are the Absa home loan rewards in South Africa.
Benefits Of Absa Home Loans Rewards In South Africa
The rewards will help lower your interest costs on the home loan.
The rewards will help motivate you to pay your loan in time to earn points.
This is all you need to know about Absa home loans rewards in South Africa.