By Marius van Rensburg (Partner)
25 March 2025
Rules for 90 Day Notice Period for Bond Cancellations
| 90 Day Notice Required? | Can Penalty Interest be Waved / Refunded? | Pro-Rata * | Does Notice Period Expire? ** | Penalties for Deceased Estates? | Penalties for Sequestrations? | Contact Number | Fax Number | |
|---|---|---|---|---|---|---|---|---|
 | YES | If a new bond is registered with ABSA simultaneously or within 6 months with cancellation – penalties can be refunded upon request | YES | YES - Must apply for extension | NO | NO | 0860 023 646 011 971 3756 | 0860 109 303 |
 | YES | If a new bond is registered with Nedbank simultaneously or within 12 months -penalties will be waived/refunded, or if account balance is NIL, no penalties will apply | YES | YES - After 12 months | NO | NO | 0860 555 111 | Email: requestcanwg@nedbank.co.za |
 | YES | YES, the interest can be transferred to a new bond or waived in certain circumstances | YES | YES - After 90 days | NO | NO | 0860 123 001 | 0861 111 146 |
 | YES | If a new bond is registered with FNB within 6 months of cancellation of your bond, penalty interest will be waived/ refunded on registration | YES | YES - After 6 months | NO | NO | 0860 334 455 | 0861 334 444 0861 334 445 |
 | YES | YES, in the event that the bond is more than 2 years old, no penalty will apply | YES | YES - Application must be made for extension of notice period | NO | NO | 0861 888 777 | 086 673 7716 admin@sahomeloans.com |
 | YES | Determined on a case by case basis | YES | YES - Application must be made for extension of notice period | NO | NO | Contact Investec Private Banker | Contact Investec Private Banker |
** The notice period does not expire if cancellation instructions have been issued to the conveyancers
E & OE – March 2024
90 Day Notice Required?
YES
Can Penalty Interest be Waved / Refunded?
If a new bond is registered with ABSA simultaneously or within 6 months with cancellation – penalties can be refunded upon request
Pro-Rata *
YES
Does Notice Period Expire? **
YES – Must apply for extension
Penalties for Deceased Estates?
NO
Penalties for Sequestrations?
NO
Contact Number
0860 023 646 / 011 971 3756
Fax Number
0860 109 303
90 Day Notice Required?
YES
Can Penalty Interest be Waved / Refunded?
If a new bond is registered with Nedbank simultaneously or within 12 months -penalties will be waived/refunded, or if account balance is NIL, no penalties will apply
Pro-Rata *
YES
Does Notice Period Expire? **
YES – After 12 months
Penalties for Deceased Estates?
NO
Penalties for Sequestrations?
NO
90 Day Notice Required?
YES
Can Penalty Interest be Waved / Refunded?
YES, the interest can be transferred to a new bond or waived in certain circumstances
Pro-Rata *
YES
Does Notice Period Expire? **
YES – After 90 days
Penalties for Deceased Estates?
NO
Penalties for Sequestrations?
NO
Contact Number
0860 123 001
Fax Number
0861 111 146
90 Day Notice Required?
YES
Can Penalty Interest be Waved / Refunded?
If a new bond is registered with FNB within 6 months of cancellation of your bond, penalty interest will be waived/ refunded on registration
Pro-Rata *
YES
Does Notice Period Expire? **
YES – After 6 months
Penalties for Deceased Estates?
NO
Penalties for Sequestrations?
NO
Contact Number
0860 334 455
Fax Number
0861 334 444 / 0861 334 445
90 Day Notice Required?
YES
Can Penalty Interest be Waved / Refunded?
YES, in the event that the bond is more than 2 years old, no penalty will apply
Pro-Rata *
YES
Does Notice Period Expire? **
YES – Application must be made for extension of notice period
Penalties for Deceased Estates?
NO
Penalties for Sequestrations?
NO
90 Day Notice Required?
YES
Can Penalty Interest be Waved / Refunded?
Determined on a case by case basis
Pro-Rata *
YES
Does Notice Period Expire? **
YES – Application must be made for extension of notice period
Penalties for Deceased Estates?
NO
Penalties for Sequestrations?
NO
Contact Number
Contact Investec Private Banker
Fax Number
Contact Investec Private Banker
* In cases where loans are cancelled within the 90 day notice period, such interest is charged on the remaining days of the notice period
** The notice period does not expire if cancellation instructions have been issued to the conveyancers
E & OE – March 2024
