What is a further advance on a home loan in South Africa?

A further advance allows you to access additional funds from your existing home loan based on the current market value of your property, subject to approval.

What can I use a further advance for?

You can use a further advance for various purposes such as home improvements, consolidating debt, investing, or covering major expenses.

Do I need to register a new bond for a further advance?

Yes, a further advance typically requires registering an additional bond at the deeds office, which may involve legal and administrative costs.

Are there costs involved in a further advance?

Yes, costs may include bond registration fees, legal fees, and other administrative charges depending on the lender and loan structure.

How quickly can I access funds from a further advance?

Once approved, funds from a further advance can typically be paid out as a lump sum within a few days, depending on the lender’s process.

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What’s new in Online Banking?

Apply to access cash from your Home Loan with an Absa Further Advance

As your home grows in value, you can apply to access extra cash to the value of your property

Apply now

As your home grows in value, you can apply to access extra cash to the value of your property

Apply now

Here’s what you get

Unlock your home’s value

Increase your Home Loan amount to match your home’s current market value.

Flexibility

Spend the cash you get on whatever you choose.

Lower interest rates

Access extra cash at Home Loan rates.

Offer

Bond registration costs are paid on your behalf*

What you need to know

What you get
Apply and access cash from your Home Loan account (i.e. the difference between your Home Loan balance and property’s market value, subject to an affordability, property valuation and credit assessment).

Competitive interest rates.

Freedom to use the funds however you choose.

The further bond registration fees are paid on your behalf up to R30 000*

*Terms and conditions apply
How it works
We assess your property’s value and do an affordability and credit assessment.

You’ll need to register a further bond at the deeds office.

Bond registration costs apply.

Further Advance Cost Contribution Campaign: The further bond registration costs up to R30 000* are paid on your behalf for applications approved from 22 August 2026 to 31 July 2027.

The loan amount that you have been approved for will be paid to you as a cash lump sum.
What you need to apply
Your ID (a South African identity document or a passport, permanent residency permit or visa)

Three months’ bank statements (if you’re employed full time)

Six months’ bank statements (if you’re self-employed)

Proof of income requirements for:

If you are employed fulltime:

Latest payslip (not older than two months)

Six months’ payslips if you have a variable income

Employment contract if you do not receive a payslip or have been recently employed.

Pensioners:

Proof of advice or letter of pension.

Self-employed:

Salary advice

Latest IT34 (last tax year).

Frequently asked questions

What is a Further Advance?

A Further Advance allows you to apply to access extra money from your Home Loan. How much you qualify for is based on your property’s current value and an affordability and credit assessment.
What can I use the money for?

Anything you need, from renovations to education and family expenses.
Do I have to register a new bond?

Yes, this process involves registering a further bond at the deeds office.
Are there extra costs involved?

Yes there are costs involved. However, if you qualify for the Further Advance Cost Contribution campaign offer, we will contribute up to R30 000 towards your further bond registration costs. Any bond registration costs above the R30 000 contribution amount will remain payable by you.