The Pension-backed Loan is secured against the member’s Fund value. It uses the funds available in your retirement fund as security for the loan.

Whether you want to purchase home or a piece of land, renovate your current home or build a new one, a Pension-backed Loan can help turn your dream into a reality. The available funds will remain the same and grow as usual – the only difference is that a portion of your funds will be used as security until your loan is paid up.

You may borrow up to 80% of your after-tax withdrawal benefit and must have enough capital in your fund. You must also be able to afford the monthly installments. The housing loans are provided through FNB and the interest rate is linked to the prime lending rate.