Topic: FAQs: Secta Flexiplan

January 8, 2021

Can I settle the agreement early?

Yes; you can repay your loan partially or in full at any time, and there may be a reduction in the amount…

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Can I take a payment holiday during the agreement?

We are currently unable to offer deferred payment facilities or payment holidays. If you find yourself in financial difficulty you must contact…

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When should I apply?

It is best to apply as soon as possible so that we can get an agreement in place and make sure your…

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Who pays the school fees?

You are responsible for paying the school fees. Secta Flexiplan enables you to drawdown the amount you require in time to pay…

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When will I have to make my first repayment?

Your first payment will be deducted from your nominated bank account one month after you make the first drawdown from your finance…

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Am I eligible if I am living in rented accommodation?

Unfortunately, we are only able to offer finance plans to homeowners with equity in their property. However, if you own property but…

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I’m not clear on the difference between the amount I apply for and the amount I pay interest on.

These are two completely separate things. The amount that you apply for is the overall amount that you have estimated that you…

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If I agree to a Secta Flexiplan now and the school fees change, or my circumstances change, can I change the plan?

Yes – Secta Flexiplan offers complete flexibility in the first 5 years. Any amount of funds can be drawn down at any…

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Do I have to apply every year?

No. When applying for a Secta Flexiplan, most parents will estimate the maximum they might need over the next five to ten…

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November 25, 2020

Over what period can I repay the loan?

A Secta Flexiplan is flexible and enables you to adjust the repayment term to suit your circumstances. The longer the term you…

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