The Universal Package is a structured solution that provides you with a tailor-made credit facility to support your wealth creation aspirations, while helping you to manage your day-to-day banking transactions.

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Improved cashflow benefit

Enables various types of asset classes to be used as collateral for financing, over a 20 year term, at home loan interest rates.

Sub-facilities management

You may choose to set up multiple sub-facilities, each with the option to have its own term, and loan statement (for tax purposes). All at the same home loan interest rate.

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Maximise asset leveraging

The Universal Package enables better affordability for you over a 20 year term and at home loan rates. In addition to this, by leveraging various assets, it maximises your potential for wealth creation.

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Overdraft facility 

For individuals, 10% of the overall facility can be used as an overdraft, at the same home loan interest rate. 

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Quick support 

24hr turnaround time to access further financing with the Universal Package. 

 

What is the Absa Private Banking Universal Package?

  • What you get

    • The Universal Package is a structured lending solution that provides Absa Private Banking clients with a tailor-made credit facility to support their wealth creation aspirations and financial goals.
    • It provides clients with the flexibility to manage their day-to-day banking transactions using a Private Banking Account, Practice Management Account or a Private Trust Account.
    • Clients who take up the Universal Package can utilise various collateral types as security and obtain an overall lending limit at one home loan interest rate.
    • The various collateral types include residential properties, commercial property, share portfolios, fixed deposits, investment and endowment policies and off-shore investments.
    • Clients may use available funds within their limit as they choose, whether it be to take advantage of an investment opportunity, purchase a new vehicle or to enjoy a once-in-a-lifetime experience.
  • Benefits and features

    • A secured facility that offers an amortising loan, over a 20 year-term.
    • A client can set up sub-facilities within the Universal Package, each with its own unique description and own statement for simple account management and tax purposes.
    • Payment for each sub-facility is managed via a separate monthly debit order.
    • Linked current accounts for day-to-day financial needs are the Private Banking Account, Practice Management Account and Private Banking Trust.
    • The Universal Package may be held by Individuals, Trusts and Professional Practices (which include entities registered as Close Corporations, Pty (Ltd)’s, Incorporated Companies, Partnerships and Sole Proprieties).
  • What to bring when you to apply for the Universal Package

    • Proof of income
      • Full time employed - Payslip or other proof of income.
      • Self-employed - latest business financial statements and confirmation from Auditors of personal income from the business.
    • Proof of residence

Need more help?

Let one of our consultants help you get the best home loan for your needs.

Call us on:

0860 553 553

Email us at:

privatebanking@absa.co.za