Access Bond

[DrRichard]

1. Access Bond Link 1:

   • With this option, your monthly bond installment does not reduce when you deposit extra funds into your account.
   • However, if you do not access those additional funds, you’ll pay off the loan sooner, saving on interest.
   • All your prepaid funds are available for withdrawal.
   • In summary, the installment remains the same, but you can access all your pre-paid funds.

2. Access Bond Link 2 

   • When you deposit money, the bank automatically reduces your monthly repayment.
   • The term of the loan remains the same.
   • However, the outstanding balance and available withdrawal funds both decrease over time as you benefit from the lower monthly installment.
   • You can still access available funds, but they gradually reduce as you make use of the lower install...12.

[leep1962]

What is the difference between Accessbond link 1 and Accessbond link 2?

I want to transfer the money paid out to me back into the bond as our plans are yet to be approved. I don't want to have the money sitting in my account not earning any interest whilst this process of plan approval happens. Once the plans are approved I then wish to draw down as and when we pay suppliers for the materials we buy.