MultiPlan allows you to structure your home loan into multiple accounts to suit your individual needs. It allows you to save interest by financing more debt at the preferential home loan over a short period. Whether you want to improve your home, finance a second-hand car, buy furniture or have education expenses.
How to get it and what you can expect
- With MultiPlan you can structure your home loan into multiple loans, each with its own designation for example: home improvements, second car, furniture or education expenses. This allows you to save interest by financing more expensive debt at the preferential home loan rate while keeping separate accounts as needed.
- Opt for FlexiReserve on each MultiPlan account, enabling access to funds paid over and above the required monthly repayment amount.
- Easy application: apply online with Absa Online, by telephone at 0860 111 007 or at any Absa branch.
This is an Absa-unique product option available on:
The MultiPlan option consists of a primary account (your original home loan account) with one or more secondary accounts.
Each MultiPlan secondary account will have its own:
- Repayment term (not exceeding the primary account)
- Interest rate option (Fixed or Variable rate)
- Repay each loan separately via a debit order
- Each account may have its own designation, for example: “New Kitchen Account", "Swimming Pool Account” or "Sarah's University Account".
Related products to choose from
- With FlexiReserve on each MultiPlan account, you have the ability to access any additional funds paid into the account.
- MultiPlan is an extremely flexible and inexpensive money management tool.
- Provided there is equity in the property value, you can increase your home loan and set up MultiPlan accounts by applying for a Further Advance.
- You can also take your loan back up to the loan granted amount by applying for a ReAdvance.