Do I need to pay my home loan with a debit order?

Author
MyProperty
South Africa's #1 independent property portal

The safest and easiest way to pay your home loan is via debit order.

Most banks will most likely include the signing of a debit order as a condition of the home loan as the bank will then be sure that they will be paid each month.

The bank will usually allow you to choose the day of the month that you want the payments to be deducted from your account.

The added benefit of a debit order is that if the base interest rate changes, your monthly repayment is automatically adjusted.

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