By Sitha Maliwa:
As National Savings Month draws to a close, the numbers don’t lie: South Africans are under siege. Skyrocketing food prices, fuel hikes, power instability – it’s a slow grind, and it’s eating into every budget. For many households, the question isn’t how to save – it’s how to survive.
But right now, quietly and without fanfare, thousands of homeowners may be sitting on one of the most underused financial tools available: the funds tucked away inside their home loans.
It’s called access funds – money that becomes available through overpayments on a home loan – and it could be a critical buffer in times like these.
“A home loan is more than debt. When used wisely, it becomes an incredibly useful tool to support your broader financial plan, especially in volatile economic times,” says Mfundo Mabaso, Product Head of FNB Home and Secured Lending.
This isn’t a gimmick. It’s a feature built into many home loans – where homeowners who pay more than their required bond instalments (whether once-off or regularly) gradually build up a financial cushion. One that can be tapped into for anything from urgent medical bills and school fees to funding renovations or even starting a business.
“The key is intention. Using these funds must always be aligned with a bigger financial plan,” Mabaso cautions.
Yet despite the flexibility it offers, this facility remains largely misunderstood or overlooked. And in a country where most households can’t handle a single unexpected expense, that’s a missed opportunity with real consequences.
As financial pressure mounts, more people are waking up to the reality that debt can be strategic. It can be planned. And if managed intentionally, it can even provide options when it feels like none exist.
“When you’re considering accessing funds from your home loan, you need a clear view of your property’s current value, your repayment progress, and the kind of improvements or expenses that could justify that withdrawal,” says Jolandé Duvenage, Chief Imagineer at FNB.
It’s a mindset shift – away from viewing your bond as just a monthly payment, and toward seeing your home as a financial tool. Not just a place to live, but an asset with the potential to provide relief, growth, and protection during turbulent times.
“When people treat their home as a dynamic part of their financial plan, they tend to manage it more intentionally,” Mabaso adds. “It becomes more than just a passive asset, but a part of how a customer uses that asset to grow and retain wealth.”
The strategy isn’t complicated. Consistently pay a little more into your home loan than required. Build a habit. Over time, you not only save on interest – you build access to funds that can be pulled back when life takes an unexpected turn.
“Paying the minimum is responsible; however, consistently paying a little more can strengthen your financial resilience. By building this habit into your routine, you increase your access to funds over time and create a buffer for when life throws the unexpected your way,” the bank notes.
As National Savings Month wraps up, the lesson is crystal clear: your next financial lifeline may not come from a side hustle or a lucky break. It may already be sitting in your bond, waiting to be used. – @NewsSA_Online
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