What to Avoid When Applying for a Bond

Your behaviour in the months before and during your bond application can affect whether you get approved and at what rate. Here's what to avoid.

1. Job-Hopping Right Before Applying

Banks prefer stable employment. Changing jobs shortly before applying can raise concerns about income stability. If you must change jobs, have a solid employment contract and be prepared to explain. Ideally, stay in your current job until after registration.

2. Taking New Credit or Big Purchases

New credit cards, personal loans, or car finance before or during your bond application increase your debt-to-income ratio and can reduce the amount the bank will lend—or lead to a decline. Avoid any new credit from at least 3–6 months before you apply.

3. Missing Payments or Defaulting

Late payments on accounts, store cards, or existing loans damage your credit score. Banks check your payment history. Pay all accounts on time and clear any defaults if possible before applying.

4. Incomplete or Incorrect Documents

Submitting incomplete FICA documents, outdated payslips, or inconsistent information causes delays and can lead to rejection. Double-check the bank or originator's checklist and submit everything they ask for, correctly and in full.

5. Overstating Income or Understating Debt

Banks verify income and existing debt. Inconsistencies can result in a decline and may be considered fraud. Be accurate and declare all debt and income.