What it means for your Home Loan
Save on interest
Extra payments help you save on interest over your loan term.
Lower your debt
Extra payments could lower your Home Loan balance.
Access cash quickly
Access a portion of your Home Loan’s available funds if you need it, using your FlexiReserve facility.
An example of how you could benefit
| Paying extra each month | Paying in a lump sum | |
| Loan | R1 000 000 | R1 000 000 |
| Term | 20 years | 20 years |
| Variable interest rate | 10.5% | 10.5% |
| Estimated monthly repayment | R9 983.00 | R9 983.00 |
| Extra payment | R200.00 monthly | R50 000.00 once off |
| Estimated loan repayment period reduced by | One year and three months | Two years and eleven months |
| Over the loan term, you could save approximately | R104 503.00 | R347 978.00 |
The table above is for illustrative purposes only and is based on the assumption that the monthly repayment remains constant throughout the loan term and is calculated on the total loan amount.
Accessing your Absa FlexiReserve
Depending on the remainder of your loan term and your outstanding balance, the total amount you’ve paid will not be available for withdrawal. Find out more about Absa’s FlexiReserve.
Explore our range of home loan solutions
Absa FlexiReserve
Access a portion of the additional funds you’ve paid into your Home Loan.
Absa ReAdvance
Apply and access your available funds within 48 hours after approval.
Read more related to this topic
Find out everything you need to know about owning a home, right here.
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Need more help?
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Contact us
Call: 0860 111 007
International: +27 11 501 5048
Email: propertyhub@absa.co.za
