HOME LOAN ACCOUNT
• How do I pay a lower monthly instalment during the first 2 years? | back to top
Choose Capital Deferment, and you'll pay interest only for the first 2 years of your loan. This means lower monthly instalments, then after 2 years, your instalment is readjusted to pay the total loan over the remaining period. So you have cashflow when you need it - up-front - to start your family or furnish your new house.
Note: this option may only be selected prior to the registration of your home loan.
• What if I need a short term break from repayments? | back to top
Select Skip a Month - You skip one month's payment in every twelve month cycle. Any month can be selected following at least 11 completed instalments. It's a forced savings plan that divides your instalments over 11 months, instead of 12. So you pay a little extra each month, to take a payment holiday.
Note: You can cancel Skip a Month or change the month by giving Integer 3 days notice.
• Can I choose both Skip a Month and Capital Deferment? | back to top
No – you may choose one or the other.
• What do I need to know about monthly instalments? | back to top
- Minimum Instalments – Every home loan has a minimum monthly instalment that is agreed upfront. This minimum fluctuates depending on the Reserve Bank and you will be notified in writing when this happens.
- Debit orders – Apart from ‘stop orders’, all monthly instalments will be debited against the account you specify.
- Stop orders – This is an instruction from an employee to his or her employer to deduct their monthly instalment directly from his or her salary. This facility is dependent on the employer's policy.
- 1st Instalment – This will include the interim interest between the date of registration and the payment date chosen.
- Payment dates – You can choose any of the following dates to have your monthly instalment debited - 1st, 7th, 17th, 25th or 28th of the month.
COULDN'T FIND WHAT YOU'RE LOOKING FOR?
Please email us on speak2us@integer.co.za or call 0861 4 66 33 4 and we will do our best to answer your query.
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Integer is a Registered Credit Provider (NCRCP670)
and an Authorised Financial Services Provider.