Home loan with fixed rate

Question ID: 29087

Can I take a home loan form a conventional bank e.g. ABSA and have the interest rate FIXED over the duration of the period; (this will mean that I will know what the property will cost after I have completed paying it off)?

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Asked on December 31, 2007 12:00 am
Private answer

Make a transaction having the following clauses:

1) Fixed amount owed.

2) fixed instalment repayment.

3) fixed duration of payment.

4) Option of settlement. (Clause 4 optional)

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Answered on December 31, 2007 12:00 am