Both Investec Bank and NBS have launched new products aimed at home buyers worried about interest rate hikes.
Investec Bank's fixed home bond option offers a fixed home loan rate of 19 percent for a negotiable period of up to 24 months.
Steven Heilbron of Investec says the option is not for people who believe interest rates will decline sharply but for risk-sensitive home owners who want to lock in rates and guarantee their monthly home loan payment.
The NBS product is aimed at existing and new home owners with bonds of at least R100 000 who want certainty about their loan repayments for the next five years.
If NBS approves your home loan, you automatically qualify for a discount of 0,25 percent against the normal base home loan rate. This becomes your fixed rate against which you are guaranteed a 0,5 percent rate reduction every six months for five years even if bond rates go up. If bond rates go down, your rate will remain fixed and you will qualify for the agreed reductions.