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Access funds from your existing home loan

Your home loan could be a source of additional money when you need it most. See which option works for you, depending on your requirements.

There are different ways you could use your home loan to get additional funds - see what will work best for you.

Make extra payments to save on interest.

How it works:

You are granted a Flexi Reserve facility with your Home Loan.
Pay extra into your Home Loan, either monthly or a lump sum payment.
Extra payments will reduce your outstanding balance, thereby saving you interest over the term of your loan.
If you need access to the available prepaid funds, you can transfer available prepaid funds from your loan to your linked Absa Transactional Account by using our Banking App or Absa Online.
Cash withdrawals and third-party payments (directly from the Home Loan Account) are not allowed.
Flexi Reserve withdrawals will increase your outstanding Home Loan balance and interest payable on the increased outstanding balance.
If you do not want to have access to the prepaid funds, you can contact us to capitalise the extra payments and recalculate your new monthly repayment based on the reduced outstanding balance.
Flexi Reserve conditions apply – refer to your Mortgage Loan Agreement.

Get money you have already paid

Use the difference between your outstanding balance and the full loan amount.

How it works:

Use your home's increased value

As your home increases in value, you can apply for the extra value in cash.

How it works:

Increase your home loan to the current value of your property and have the difference paid to you.
You can use the cash for anything from home renovations to paying for education or any other need you may have.
Option to structure your funds with MultiPlan.
Requires registering a further bond at the deeds office.
Further bond registration fees and costs are required
Subject to a credit assessment and property valuation.