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Posts Tagged 'access facility'

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Why an Access Facility on Your Home Loan Is the Smartest Way to Save — and Borrow

When most people think about a home loan, they only think about debt — a long-term commitment to repay the bank. But what if we told you that your home loan could be your most powerful savings tool and also your cheapest source of credit?

Welcome to the world of access bonds (also known as access facilities). If you have a home loan in South Africa — or plan to get one — understanding how an access facility works can put you in a far better financial position in the long run.

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What is a home loan Access Facility?

An Access Facility is an offset account linked to your home loan, that allows you to access any surplus funds that have accumulated in your home loan account by you paying more than the minimum monthly instalment and/or paying a lump sum into your account.

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