Are you looking to switch or refinance your home loan? Well, now's the perfect time to take advantage of an incredible offer from Discovery Bank. If you make the move by 31 March 2025, you could have your bond registration fee paid back! This means that Discovery Bank will refund you the cost of registering your bond when you send your application. Are you looking to switch or refinance your home loan? Well, now's the perfect time to take advantage of an incredible offer from Discovery Bank. If you make the move by 31 March 2025, you could have your bond registration fee paid back! This means that Discovery Bank will refund you the cost of registering your bond when you send your application.
Here's how you can get in on this amazing deal:
- Submit your completed application to switch or refinance your home loan to Discovery Bank by 31 March 2025.
- Pay a 50% discounted bond registration fee upon registration. You'll receive this discounted fee in the Letter of Acceptance from the bank.
Once your bond is registered, you'll get reimbursed directly into your Discovery Bank account. Here's when to expect it:
| Bonds registered on or by | Payback date |
|---|---|
| 31 December 2024 | 20 February 2025 |
| 31 March 2025 | 20 May 2025 |
| 30 June 2025 | 20 August 2025 |
What else should you know?
- Fringe benefits tax: The reimbursement amount is subject to fringe benefits tax, but don't worry, Discovery Bank will cover this for you! It will be reflected on your payslip
- Other fees: Please note that all other fees, such as bond cancellation fees, initiation fees, and Deeds Office fees, will still apply.
- Eligibility: The offer is available to permanent employees who are the main applicants on their home loan. It's limited to one home loan per employee.
- Employment condition: If you leave your employment within 12 months of receiving the reimbursement, your business unit can reclaim the refund from you.
But that's not all, you'll also benefit from a rate cut! As a Discovery Bank client, you get a personalised interest rate, plus a further discount of up to 1%. Discovery employees get an additional fixed 0.5% discount which gives you a total saving of up to 1.5%.
Ready to apply?
It's easy! Simply start your application today on the Discovery Bank app. If you have any questions or need assistance, give us a call at 0800 07 96 97. We'll connect you with one of our dedicated employee consultants to guide you through the process.
What are you waiting for? Refinance today and let Discovery Bank help you save!