Becoming a home owner is the dream of many. As a member of the CRF, you are on the path to realize this dream. We offer two types of affordable home loan options, in partnership with First National Bank (FNB).

Option 1: FNB Smart Housing Plan

Through a surety agreement with FNB this option allows you to either:

  • purchase a house or a plot on which your home will be built
  • renovate your current home

The Fund provides a guarantee to FNB for an amount of up to 60% of your resignation benefit; this guarantee allows FNB to provide qualifying members with housing loans at attractive rates of interest.

When do you qualify for a pension-backed home loan?

  • You must be a member of the CRF
  • You must be between 18 and 65 years of age
  • The minimum amount you can apply for is R5 000
  • The maximum repayment period is 20 years, or up to your normal retirement date if that is sooner
  • You must have a South African bar-coded Identification document
  • A maximum of 60% of your Member share value within the Fund may be used as surety for a Smart Housing Plan loan
  • Loan repayments are deducted in monthly installments directly from your salary (not in the form of a debit or stop order)
  • Your Local Authority must have an agreement with FNB before housing loans can be arranged for members of that Local Authority
  • Approval of the loan is subject to the National Credit Act in terms of a credit check
  • Affordability is assessed and determined by FNB

Here’s a Checklist of required documentation you will need to provide with the application.

Employees of City of Cape Town should contact the Fund directly for assistance with the application process. Contact our call centre on 0861 CRFUND (0861 273 863).

For other municipalities, please contact your HR department to check if there is an agreement in place. If so, request assistance with the application process.

Option 2: FNB Housing Loan for incomes of R3 500 – R25 000

This additional form of housing loan is aimed at members who wish to get a foot onto the property ladder, but may not have enough surety. It incorporates some attractive Value Added Benefits to qualifying members.

What are the rules?

  • Available to CRF members earning between R3 500 and R25 000 per month. You must be permanently employed and have been a member of the Fund for more than 6 months
  • The purchase price of the house you wish to purchase, must be less than R650 000
  • You may not be under administration
  • The monthly premium will be deducted from your salary by the employer. The amount depends on the size and term of the loan
  • Approval of the loan is subject to the National Credit Act

To apply for this Loan:

Download the application
Download the cover letter

Download the FLISP checklist

These forms need to be submitted directly to FNB as per the details on the cover letter.

For more information on this benefit, please contact our call centre on 0861 CRFUND (0861 273 863)