---
title: Bond
description: In South Africa the term bond is used to describe a home loan. When you buy a home, you can borrow money from the bank to pay for the property. The bank uses the property as collateral against the mon
---

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# Bond

In South Africa the term bond is used to describe a home loan. When you buy a home, you can borrow money from the bank to pay for the property. The bank uses the property as collateral against the money you have borrowed. This means that they have the right to repossess and sell your property should you default on the monthly repayments.

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