Housing Loans

Direct housing loans to members were granted until 31 May 2007 in terms of section 16(3) of the Rules of the Fund and the provisions of section 19(5) of the Pension Funds Act, and were  secured by members’ withdrawal benefits subject to affordability criteria.

The direct home loan scheme was replaced from 1 June 2007 by a pension-backed home loan scheme. Standard Bank and First National Bank (FNB) have been appointed as service providers in this regard.

A member may apply for a home loan with Standard Bank or First National Bank (FNB) up to the maximum of 45% of the member’s Fund Credit. The loan is granted against the security of the member’s Fund Credit. Members must comply with all the requirements of the National Credit Act to qualify for such loan. 

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Members with existing housing loans granted directly from their Fund Credits in terms of the previous dispensation may maintain such direct loans or transfer them to Standard Bank or FNB. A member may only have a pension home loan with either Standard Bank or FNB and not with both. Loans may be transferred between Standard Bank or FNB.

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The current fees (incl. VAT) charged by these two banks are as follows:

* All Standard Bank loans granted prior to 1 March 2021 will remain at prime of 7% less 1% = 6%. The interest rate above is only for new loans from 1 March 2021.

Please download the application forms from the Forms page (scroll down to HOUSING). Loan applications must be lodged with:

Standard Bank - click here for their flyer: 

pblloanorigination@standardbank.co.za

0861 009 429

FNB - click here for their flyer:

pensionlendingdoc@fnb.co.za

087 730 1144