Housing loans

The Fund does not provide housing loans directly.  However, a member may use up to one-third of her/his Fund Credit (savings balance in the Fund) as a surety in respect of a housing loan by a banking institution with which the Fund has a suitable agreement in place - the Fund will provide a guarantee to the bank for such an amount (up to one-third of the member's Fund Credit).  Rule 13.2 of the Fund Rules refers.  

As of March 2026, the Fund is negotiating a new housing loan facility with First National Bank (FNB) - however, before this can take effect, Parliament and the Provincial Legislatures will each need to reach agreement with FNB that members' housing loan repayments can be made by salary deduction.

Further information will be provided as this becomes available.  Members should note that any bank loan will be subject to the requirements of the National Credit Act (as well as the relevant provisions of the Pension Funds Act and the Fund Rules).