Already have a home loan? You could save thousands by switching your home loan to Absa and access the equity that you have built up in your home over the years. Let’s help you re-evaluate your existing home loan and help you make that great escape and get a better deal right now.

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Why switch to Absa?

We can save you money and help you to access equity in your home.

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Discounted fees

Receive 50% discount on bond registration fees (incl. VAT), granted by an attorney through a ring-fenced panel.

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Bond registration costs

In addition to the above benefit, Absa will pay up to R20,000 towards any remaining bond registration fees*. 

Money bag in house

Cancellation costs

Absa will pay up to R6000 towards your bond cancellation costs.

What to expect when you switch

  • What you get when you switch

    The Great Escape offer applies to existing Absa customers and non-Absa customers who switch their existing home loan to Absa, with a loan amount of R500 000.00 (five hundred thousand rand) or more. Eligible customer will benefit from the following:-

    • 50% discount on bond registration fees (incl. VAT), granted by an attorney through a ring-fenced panel
    • In addition to the above benefit, Absa will pay up to R20 000 towards any remaining bond registration fees and contribute up to R6000 towards the attorney cancellation costs provided the below conditions are met:
      • The Client(s) must have an existing Absa cheque account or have opened a new Absa cheque account
      • The Client(s) must sign a debit order form with the bond registration attorney for the home loan repayments to be paid from this Absa cheque account
    • We understand that taking up a home loan is a significant milestone in your life, and you may need assistance with financial planning.  We can assist by providing you with a consultation with a qualified adviser to consider the following: a Will, a life policy, retirement planning and other options. Send an email to and an adviser will call you.
    • Absa Rewards clients earn up to 30% real cash back, depending on your Rewards Tier (the more products the customer holds, the higher the earn ratio) every time they swipe their Absa Debit, Cheque or Credit Card.

    Limited offer: 10 October 2023 – 30 June 2024

    Terms and conditions apply

  • Features when you switch

    • Choose the interest rate option that gives you the repayment structure you prefer - understand fixed and variable interest rates
    • You can have electronic access to your Home Loan via Absa Online banking and Telephone Banking, if you have an Absa transactional account.
    • Additional deposits can be made at any stage, which will immediately reduce your interest cost. To access any advanced payments you pay over and above your monthly instalment, you will need to activate the FlexiReserve option on your account.
    • The monthly repayment of your loan takes place via a due-amount debit order. This facility saves you the trouble of going into the branch to amend the existing repayment amount where there is a change in the Mortgage Lending rate.
    • Apply for Future Bond to register a larger bond than the amount of the loan granted, which will reduce the cost and time when increasing your loan in future (via a  Further Advance).
    • Further Advance: Further loan amounts may be applied for as soon as your property value increases sufficiently or when you want to extend/improve your property.
    • The loan can be structured up to a maximum term of 30 years. The term may be changed at any time at no additional cost. (If the change results in an increase in your repayment, additional information may be requested in order to confirm your affordability).
    • In aid of the environment and to ensure a safe and easy statement delivery to you, we also offer eStatements. No additional cost for this service and you may switch back to physical mail delivery at any time.
  • How it works

    Your home loan account at the other bank will be cancelled and the outstanding amount will be taken over by Absa if your application to switch passes our credit assessment criteria. Monthly repayments are calculated to pay the loan plus the interest over the agreed term of the loan, normally 20 years but up to a maximum of 30 years.

    The monthly repayment will also include:

    • The monthly service fee
    • A premium for Homeowner’s Comprehensive Insurance (HOC), if Absa’s HOC is used
    • A premium for an Absa Life policy if you decide to take up life cover with Absa

    The monthly repayment must be paid into the loan account on the required date stated in the mortgage loan agreement so that your home loan does not fall into arrears.

  • What you will need

    • Fully completed home loan application form.
    • A valid, bar-coded South African ID/ Smartcard (both sides) or a passport if you are not a South African citizen.
    • Copy of marriage/divorce certificate if surname in identity document differs to surname on application.
    • Latest salary advice (only 1 payslip required for salaried individuals) unless commission or overtime is consistently earned or an income statement if self-employed
    • Three (3) months bank statements on your personal transactional account into which your salary is deposited.
    • 6 (six) latest consecutive month’s home loan statements showing all transactions at the other bank.

    Terms and conditions apply

Need more help?

Let one of our property experts call you back.

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Call us on:

0860 111 007

Email us:

General account enquiries:

Home loan applications:

Battling to make home loan repayments:

Homeowners comprehensive insurance:

Life insurance:

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