How To Pay Your Bond Off In 8 Years That Anyone Can Do.

[@jaredgovindasamy5472]

Alot of people wont admit it , but we desperately need this type of financial literacy content and strategies to shift our mentalities from poverty to liberation and abundance, thanks Nabeel for leading the way 👏👑

[@famom9198]

I work in the Mortgage cluster for one of the major banks in SA, the info in this video is spot on.. Nice one 👍

[@MoneyTalkswithNabeelKhan]

Appreciate your comment! Thanks Famo! Keep tuned 🙌🏽

[@megansmith2160]

Hi sir.So is a lump sum better than extra monthly payments.and Do U lower the installment or lower the term.please explain.Thank you kindly

[@hamzagaj]

This guy knows his stuff!

[@Jad234]

Not many people know this great financial hack, let alone can explain it like a G! 👏

[@MoneyTalkswithNabeelKhan]

🙏🏽🙏🏽🔥👊🏽

[@thobilehlubelihlehadebe331]

I think I like you. I'm telling myself that it's never too late to start. I've made many mistakes but ill come out of them. You 've gained a new Subscriber here 🤛

[@MoneyTalkswithNabeelKhan]

Appreciate it! 🙏🏽🙌🏽 check out the site and community around the feee money school etc. www.MyMoneyTalks.co.za Wish you well! Keep going!

[@marcobothma6771]

What an informational video Nabeel. I'm sharing it with my clients as well as my team.

[@Ntezzi]

Thank you for this kind of financial information.

[@tshupetsomonedi]

Thank you for this. My home buying process is almost to completion. I need this once I start paying. 👌🏿

[@MoneyTalkswithNabeelKhan]

Epic! Hope it helps! Check out the site too for additional strategies yeah!

[@mrbsmartify]

Thank you Nabeel. These are things that should be taught to us at school already- I wish I had known these tricks earlier. I put R240 000 deposit down on my house that cost me R790 000- therefor I lost access to this money. The estate agent at the time never mentioned the access bond account- live and learn I suppose. I wonder if you can advise me on something current. My bank made the deal with me on applying for relief on my bond payments during lockdown that I would lose my access bond and would only be allowed to apply for a new access bond after 1 year of payments on my bond again. Can I get this reversed as I would like to make bigger payments than the minimum payment? Any advise? Thanks for guiding all of us who are soooo hungry for this knowledge.

[@maureen8059]

@Nabeel Can someone please explain the move salary to a day before debit order part.... Like how do banks calculate their interest daily i guess is my question I got completely lost at that part

[@dudettethechicklet2828]

Thanks for the video Nabeel. I have been saying this for years but I wasn't articulating it as good as you. Now i can share your videos. Great information. I have subscribed.

[@MoneyTalkswithNabeelKhan]

Racer Chicklet so happy you’re enjoyed the channel!! Thank you for your comment!

[@48webber]

banks hate this guy bit we love him

[@ndilekasingapi1451]

Thank u for this info...valuable

[@brettsmitsdorff9857]

Great video. Thanks

[@Devonkruger1]

Great Video. Please do one on a Car Payment. Approach to get done sooner ?

[@tshepomabote9314]

Wow this is powerful stuff

[@DarkRiderMotovlogs]

Amazing video! I never knew you could do this. How would you go about doing this with a dual income? Our bond is R2.1m and combined salaries going into he bond would be R80k using this method. Only problem is the timing and my wife is with a different bank? Any advice? Thanks!

[@maamef3685]

This is really insightful

[@adamtylerr9970]

great info, could you perhaps do a vid like this on paying off a Shariah home loan quicker? thanks

[@vee_mkhwa]

Wow, you're the best! Very easy finance language, thank you!

[@MoneyTalkswithNabeelKhan]

Thank you Veliswa! Appreciate it and I’m glad you’re here!

[@jldp24]

Hey mate..can you explain access bonds and how repayments above the installment without changing the original terms affect the excess over time. Good job

[@MoneyTalkswithNabeelKhan]

Hey man. Welcome to follow on IG @mymoneytalks or check out the site www.MyMoneyTalks.co.za ✌🏽

[@ndapandaamadhila9240]

Hello. Thank you so much.

[@MoneyTalkswithNabeelKhan]

It’s my pleasure! Busy the site for more! www.MyMoneyTalks.co.za

[@sifisomahlaba9438]

Is it a good idea to recalculate the monthly bond amount once you have a good amount in your access account or portion¿

[@MoneyTalkswithNabeelKhan]

If you’re aiming to save on interest then that’s not a good idea.

[@santjiemashilwane4551]

Hi nabeel Thank you for this video, I'm a new subscriber. I've been paying extra on my bond but I didn't have an access facility on the bond.I also have a separate emergency account that I pay monthly. After watching this yesterday, I immediately applied for an access facility on my bond ,once my accounts get linked I'll transfer my emergency fund into my access bond aswell as the monthly contributions I'm making for emergency fund..I'm left with 10 years on my bond I hope this will drastically reduce the remaining years...THANK YOU🤗🤗

[@MoneyTalkswithNabeelKhan]

I’m proud of you!

[@denverminnie6251]

Hey Nabeel, great channel a just accidentally came across your channel and had to subscribe , and i am really intrigued by this, i have been watching this video over and over, but still cant understand everything, maybe my mind is just blocked lol anyway, so your saying when i get paid i must put my entire salary into my access bond, move my debit orders to the day before i get paid, live on my credit card for the month, the day before my debits goes off, transfer my salary back into my account to pay my debit orders like credit card and house payment then repeat the process?

[@MoneyTalkswithNabeelKhan]

Hey Denver! You are right in your thoughts. Every day that you have your extra money in the bond is saving you interest on the calculation internally and it all add up in your favor. Great to have you here and thanks for your comment!

[@MishqaAchmat]

This is so mind blowing like the content thank you

[@MoneyTalkswithNabeelKhan]

Mishqa Achmat glad you do and hope it helps!! Keep participating and sharing!

[@MishqaAchmat]

@@MoneyTalkswithNabeelKhan I am learning I need to buy my first property

[@siphoshongwe1559]

Hey there! I hope all is well. I am going to try and implement your advice for a period of a year. Then I will confirm if it works . Regards

[@MoneyTalkswithNabeelKhan]

Awaiting confirmation…

[@moeletsimjika2533]

Great

[@aminaismail8248]

Hi! Thank you for your insightful videos! I was wondering if you could perhaps give a few tips on how to pay off a mortgage quicker if you have chosen an Islamic home loan(interest free)? Do the same principles apply?

[@MoneyTalkswithNabeelKhan]

Hey Amina Thank you for your comment i'm glad you're enjoying these! The same habits don't really apply but you can still save on the overall "profit rate" of an Islamic bond. Islamic bonds don't work on the "profit" being flexible, however you can reduce the profit annually if you apply for a reduction in profit where you can add additional funds or negotiate the profit rate. Then they agree to sell a % of the Profit back to you (meaning you reduce total profit and save money). Additional funds can either be used to reduce installments or repayment period - to match this example in the video you want to be reducing repayment period. You can use the principals in the video of paying extra into the bond if you save up annually. That should answer your question! :) I cannot give you advice here because what i say to you can only be accurate if i understand your bigger picture of your goals and plans currently but you're welcome to reach out via the website in the description of this video and send a mail if you would like to and don't forget to share and subscribe!

[@MysteryElectronicz]

Can this be done with credit card maximum transfer to home loan for a month then return all the money before payday??

[@khan55714]

Thank you for this amazing strategy, very informative!

[@MoneyTalkswithNabeelKhan]

Glad you enjoyed it and thanks for being here on the channel!

[@KARLBARNARD]

So when you move your debit order to the day before pay day, how do you settle them that first time since you won't have any money yet?

[@MoneyTalkswithNabeelKhan]

Did you figure it out yet?

[@lebopeguni]

@@MoneyTalkswithNabeelKhanPlease explain. Just saw your video and you totally lost me at this point

[@babalwanomvabangxamani6563]

Wow Thank you for the info.I have a question....Does this apply on a VAF car to reduce interest and pay it less than 6 yrs?

[@MoneyTalkswithNabeelKhan]

Theoretically yes! Practically no. You would have to save up and request a settlement letter from your bank in order for them to calculate the new amount after the interest is saved.

[@boombuzzmuzik]

Thanks for the great advice. I have paid the deposit but I was never presented with the flexi save, can it still be changed?

[@MoneyTalkswithNabeelKhan]

Hey Shawane, you can apply for the access facility now- it will however apply to funds put in addition from the time you have the facility moving forward and not include your deposit. Great to have you here stay tuned for some cool things coming to the community in the near future!

[@sadiemamrax]

Thanks for the insights Nabeel. Its really all valuable! I just need clarity on the other savings starting at 3:20. I don't quite understand that strategy or logic. I would appreciate your input in clarifying that. Hope to hear from you soon.

[@MoneyTalkswithNabeelKhan]

Sadie Moabelo hey Sadie, happy to help you out. Please send us a mail from the link in the description of this video and I’ll get in touch.

[@olwethucakwe3533]

Hi Nabeel,I also need a bit of clarity on that part at 3:20

[@MoneyTalkswithNabeelKhan]

Olwethu Skenjana see the above reply mate! Send me a mail at [e-mail] ! Thanks for the comment!

[@opensauce]

Very interesting. Thanks Nabeel.

[@MoneyTalkswithNabeelKhan]

Thanks for watching! Glad it helped!

[@BizWheelsAndBeyond]

Wow I just came across this amazing video now (12 April 2023). My question is, my bond repayment is 7k and I just got an extra business that is now doing well and my biggest concern is obviously finishing my bond earlier and save on interests, now here is the story, I can now be able to pay 20k (13k extra). Is it still necessary for me to apply for access facility and pay that extra 13k there or i can just call the bank to adjust my monthly payment to 20k? which one is better? I wont need this money, i just want to quickly pay off this bond. Thanks once again for your informative chanel. God bless you.

[@senzenithabile5327]

There's no need to open access facility. Just call your bank and let them know that you will pay extra in order to reduce your he loan term. Add your bond account to the bank app as a eneficiary

[@aliciajonkers2365]

Hi Nabeel, does this principal apply for student loans and car payments? Will definitely give it a go with my bond. Thanks!

[@MoneyTalkswithNabeelKhan]

Alicia Jonkers the principals do apply but the means and methods differ. Good Luck!

[@princehangwaninesengani4559]

lets assume that Mbali has for some reason defaulted on her payments or has not been able to keep up with the 9k installment as per the agreement with the bank, will Mbali have access to the credit facility in the case of an emergency?

[@MoneyTalkswithNabeelKhan]

Correct. Subject to her banks’ access facility TCs and Cs

[@nhlanhlaradebe516]

I was under the impression that bond interest is calculated monthly and not daily like credit card interest. Thanks for the great info, and is the salary deposit method into the bond the same as velocity banking?

[@MoneyTalkswithNabeelKhan]

You’re welcome Nhlanhla! To answer your question on VB. No it’s not the same- they’re only similar in the sense that they aim to achieve the same outcome but our banking systems are actually better because they’re simpler! Check out the site - www.MyMoneyTalks.co.za under the advice section if you’re serious about setting this up! Thanks for being here! 🙏🏽👊🏽

[@nhlanhlaradebe516]

@@MoneyTalkswithNabeelKhan Will do. Much appreciated

[@angieopen]

This is a great video - and great advice... can you do this with an investec bond?

[@MoneyTalkswithNabeelKhan]

Thanks Angeline! You mosdef can! Head over to www.MyMoneyTalks.co.za for more resources! Thanks for your comment!

[@victorleeuw6606]

Hi Nabeel, Please advise, wrt the 55 days no interest credit tip. Why can I not take money directly out of my credit account into the bond with the access facility and then return the money from the access facility to the credit account on day 54 as an example. Then repeate this on day day 56. Will that not reduce my interest on the bond further? Whilst not incurring interest on the credit account.

[@MoneyTalkswithNabeelKhan]

It would depend on how much the fee is to transfer on your credit card. Check with your bank. If it’s worth it there after and if you can keep it all up to date 🤟🏽

[@victorleeuw6606]

@@MoneyTalkswithNabeelKhan Thanks

[@jaydee6178]

Wow great hacks! What banks here in SA can you practice this on?

[@MoneyTalkswithNabeelKhan]

All banks! Good Luck !

[@jaydee6178]

Awesome and God bless 🙏🏿🙏🏿

[@LifeLately_Abroad]

I’ve been looking for smart ways to reduce interest paid by leveraging off these 0% credit card facilities and other options. Thanks so much for this video, this is one of the rare video as most tackle extra payments only

[@waababsy93]

Can this work for a 30 year bond as well?

[@MoneyTalkswithNabeelKhan]

Even better for 30year bond. Check out our latest video with msw . I go into detail . Also check out our site www.MyMoneyTalks.co.za 🙌🏽🔥

[@williamfryer9493]

Is it better for a 30year bond because you will save more on interest? How many years will this take if you have a 30year bond?

[@sahillarya06]

Master

[@MrJoubert1]

I paid 300k into my stb access bond. & they took 145k, which i dont have acces to anymore. Any guidelines on why this would be?

[@MoneyTalkswithNabeelKhan]

Has your bond repayment come down?

[@thaboletanta9666]

Method 2 🤔am not understanding it clearly

[@MoneyTalkswithNabeelKhan]

www.MyMoneyTalks.co.za

[@obakengsenosi1336]

good day Nabeel is there a way for a retired senior citizen to get a 100% for a home loan your help will be highly appreciated.

[@MoneyTalkswithNabeelKhan]

Thanks for reaching out via the site!

[@nemarudj_rsa]

I just subscribed

[@bongumusasokhulu260]

Why am I seeing this video this late 😩😩😩😩

[@andriesmaila4566]

Is little bit complex