Pension Backed Loan


Pension Backed Loan is specifically for the improvement or buying of immovable property. The loan is secured either by a company guarantee, or pledge of pension/provident fund benefits. The rate of interest is prime-linked


  • Build, buy, improve, renovate or extend your house while you are economically active
  • Repayment terms are from 24 months to 240 months
  • Loan is repaid before your retirement
  • Competitive interest rates


  • Permanently employed South African citizens
  • Members of the Pension /Provident Fund listed under FSB with which Ithala has an agreement
  • Earn a minimum salary or wage of R3 500

Rates & Fees

  • Monthly repayments are done through salary deduction by employer
  • A once off initiation fee will be charge to the maximum allowed by National Credit Act (NCA)
  • A monthly Service fee is also charge as the maximum allowed by the NCA
  • The interest rate is prime-linked over the term of the loan