What is Fixed period?

A fixed period is the stretch during which the interest rate does not move. When it ends, the rate is set again, usually at whatever the market looks like then. Length is a trade-off: a short fixed period lets you switch or remortgage sooner, while a long one locks the cost of your payment for longer and carries early repayment charges if you want out. Absa Seychelles offers a fixed period of 1, the shortest here, while Absa offers 30 and Absa Mozambique 25. Achieve lets you choose, with a fixed period of 10 to 30.