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.

What Is an Access Facility?

An access facility allows you to deposit extra money into your home loan and then withdraw it later when you need it. In essence, you’re saving money into your bond — and reducing your interest in the process — but still have the flexibility to access those funds later.

This is different from just paying off your loan faster. With an access facility, you’re in control: pay more when you can, withdraw when you need

Why It’s the Smartest Way to Save

You Earn More by Paying Less

• Any extra funds you put into your bond go straight toward reducing your outstanding balance.
• This means you pay less interest, and because home loan interest is calculated daily, you save money immediately.
• Over time, the interest saved is often more than what you’d earn from a savings account or fixed deposit.

You’re Still Liquid

• Unlike extra payments into a normal loan that are locked in, an access facility lets you tap into your money anytime.
• That means your emergency fund, travel savings, or money for a future renovation can sit in your bond working for you — without being tied up.

Tax-Free ‘Returns’

• The money saved on interest is essentially a return on your savings — and best of all, it’s not taxable like interest income from a bank account.

Why It’s the Best & Cheapest Credit Option

Borrow from Yourself, Not the Bank

• Need money for school fees, a car, or a business idea? Instead of applying for a new loan or credit card, just access the funds already in your bond.
• No approval needed, no extra paperwork — just a quick withdrawal.

Lowest Interest Rate

• Home loan rates are far lower than personal loans, overdrafts, or credit cards.
• By using your bond’s access facility, you’re essentially borrowing at prime or better — potentially saving thousands in interest.

No Additional Fees

• Since you already have the home loan and access facility in place, there are no new initiation fees or monthly service costs like with new credit products.           

Long-Term Financial Flexibility

• Think of your access bond as your financial safety net. Life is unpredictable — whether it’s a job loss, medical emergency, or investment opportunity, having access to affordable funds at a moment’s notice gives you peace of mind.

How to Get an Access Facility

Not all lenders can offer an access facility for your home loan, but most of the retails banks can – ABSA, FNB, Nedbank, Std Bank, Investec and RMB. Not all bonds come with one by default — you usually need to request it at application, or apply for it later. Some banks may charge a small admin fee to activate the feature, but it’s well worth the long-term benefits.

Speak to your bond originator or banker to find out if you have one — or how to activate it.

Access Facility as the Savings Norm

An access facility turns your home loan from a passive debt into a dynamic financial tool. You save more. You pay less. You gain flexibility. It’s a smart strategy for savvy homeowners who want to take control of their finances.

So next time you have extra cash, think twice before putting it in a savings account. Your bond might just be the best “bank” you’ve got.

Use a reputable mortgage broker

By using a broker, you can access multiple offers simultaneously and negotiate on fees and interest rates so you can have the confidence knowing you received the best deal in the market at the time.

Phoenix Bonds is a premium mortgage broker in South Africa, with a proven track record (check out the reviews on Google).  For expert advice and personalised service, fill in your details HERE and one of our experienced Consultants will be in touch.