JOHANNESBURG - Your bank may be 'lending' you money for your annual insurance premium.
It's time to check your home loan statement very carefully.
A little-known fact is that when your bank charges you an annual premium for your home or mortgage insurance, they deduct it from your outstanding balance.
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This means that the bank has "lent" you money for your insurance, and you are paying interest on that premium.
Maya Fisher French, personal finance journalist, has more on this.