Housing Loans through iMas Finance

1. The loans must be settled by normal retirement age, as per the Fund rules.
2. Credit life insurance covers you for temporary and permanent disability, death, and retrenchment cover. Ensuring that your family is secure in the event of unforeseen circumstances.

Documents Required

1. Offer to Purchase (OTP)
2. Income tax statement/IRP5 document
3. I.D or smart card copy
4. Proof of residential address (e.g. Municipal or rates bill)
5. The members latest 3 (three) months payslips or bank statement

Housing Loans through FNB

The FNB Pension Backed Loans are secured against the member’s fund value. You may qualify for the loan if you are a member of the fund, as there is an agreement in place between FNB, the fund, the fund administrator, and the employer.

Note

1. The home must be the primary residence of the applicant or their dependent(s).
2. The property must be within the borders of South Africa.
3. You will also be required to declare your ‘Registration Tax number’ for SA or any other country where you hold citizenship or residency.

Pension Backed Loan rules

1. You must be over the age of 18 years
2. The minimum amount you can apply for is R5 000
3. The maximum loan amount is ‘as per the fund rules’
4. The minimum loan term is 12 months
5. The maximum loan term is 240 months (20 years)
6. All loans are governed by the National Credit Act and the FNB
7. Credit Policy and therefore normal credit scoring and affordability rules apply

Risk Benefit Cover

Members receive cover in the following instances; the cover is for the full loan amount and excludes arrears (if applicable):

1. Death – Settles outstanding balance at the time of death.
2. Permanent disability – Settles outstanding balance at the time of permanent disability.
3. Temporary disability – 12 months’ instalments paid.
4. Unemployed or unable to earn an income – 12 months’ instalments paid.