Top 8 Home Loans in South Africa 2022

A home loan is arguably the most important loan that a person will ever take out. Because home loans take a long time to repay, getting a home loan that works for you and your budget is crucial.

Taking into account loan terms can work in your favor, this will allow you to plan accordingly without getting over-indebted for the duration of the loan. Our top 8 Home loan compilation will help you learn about some of the best home loans available in South Africa.

Our top ten Home Loans picks are decided based on fees charged, the interest rate payable, the service fee, the deposit, and the company’s reputation. Please keep in mind that our picks are not in any particular order and are indexed based on Rateweb’s listing criteria.

Here are the top 8 Home Loans in South Africa:

  1. Nedbank Home Loan

Nedbank has one of the best home loans offers in South Africa, with customers benefiting even before they pay their first installment. Clients can receive up to R15,000.00 in cash back on the loan value. The cashback is, however, limited to one percent of the loan amount.

Clients can also save up to 50% on the attorney bond registration fee when they apply for a home loan online. Customers can choose between mortgage refinancing and home loans from the bank.

Nedbank can finance up to 100% of the purchase price of a home. Furthermore, the interest rate on the client’s home loan is reduced by 0.25 percent and the reduction is applicable to clients who use Nedbank as their primary bank.

The monthly service fee at Nedbank is R69.00, and the home loan has an initiation fee of R6,037.00. The fee for cash deposits is R30.00 + R1.51 per R100.00 or part thereof.

  1. Standard Bank Home Loan

The Standard Bank Home Loan has a repayment term of up to 20 years and a personalized interest rate. If your credit score and history are good, you may be able to get a lower interest rate when applying for a Standard Bank home loan.

Clients can obtain up to 100 % financing of the property’s purchase price. Customers who are approved for a Standard Bank Home loan must obtain homeowners insurance.

Loan approval is quick; clients can be approved on the same day they apply. Since there are no commission fees involved, applying directly online cuts out the middleman.

Standard Bank Home Loan has a monthly service fee of R69.00 and an initiation fee of R6,037.00. 

  1. SA Home Loans 

SA Home Loans provides clients with home loans and refinancing loans. Clients can obtain home loans for a period of up to 30 years. Depending on the client’s credit history, they may be able to get the lending rate as their interest rate. SA Home Loans provides funding for a home of up to 100 % of the home’s value.

When government employees use SA Home loans to finance their homes, they receive preferential interest rates. They receive a 50% discount on bond attorney fees and can choose to pay interest only for the first three years after taking out the loan.

  1. Absa Home Loan

Absa Home Loan includes an online management tool that allows clients to manage their repayments and access previously paid money. Clients can also choose between fixed and variable interest rates.

Absa provides home loans of up to 100 percent of the purchase price. Young professionals are given a boost with home loans of up to 105 percent of the purchase price. Those with a gross income of less than R26,100 receive assistance in applying for FLISP (financial linked Individual Subsidy Programme).

The cash deposit fee for the home loan account is R4.50 plus R1.50 per R100.00 deposited into the account. Account-holders must pay an R69.00 monthly service fee as well as an R6,037.50 initiation fee.

  1. First National Bank Home Loan

First National Bank is one of South Africa’s oldest home loan providers, and through experience, the company has been able to provide state-of-the-art home loans. Different types of buyers, including retirees, are catered for.

The initiation fee for the FNB Home loan is R6,037.50. In addition to this cost, new customers must pay a monthly service fee of R69.00; existing customers do not pay a monthly service fee.

  1. Investec Home Loan

Investec is a private bank, but it has some of the best home loan deals for its clients. The bank provides home loans with repayment terms of up to 30 years. The company finances homes for up to 100% of the purchase price.

Clients benefit from reduced attorney fees and competitive interest rates. Those with good credit can get some of the lowest interest rates on a home loan when they finance it through Investec.

  1. RMB

Rand Merchant Bank is one bank that you can rely on when it comes to home loans in South Africa. However, the home loan is not for everyone, the bank’s home loan is for those that qualify for private banking. 

The RMB gives loan holders the opportunity to use the prestigious RMB app and earn eBucks rewards points which are up to 50% and are capped at 61 000 eBucks points. 

The loan comes with a dedicated banker that is there to help you with your banking needs. You will also have access to a team of fiduciary, lending, wealth management, and foreign exchange specialists. 

  1. Housing Investment Partners

For their product offerings, Housing Investment Partners (HIP) focuses on low to middle-income earners. The company allows customers to begin with low repayments and gradually increase the installment amount.

HIP provides finance to people under the age of 40 but over the age of 21. Furthermore, the company offers loans ranging from R250,000.00 to R950,000.00 to purchase a house.


Home loans are essential for individuals to own houses in South Africa considering that South Africa is an upper-middle-class country. Buying house cash is out of reach for the majority of the population. A home loan can fast forward your stay in your house. Check to see if you qualify for the FLISP house subsidy when applying for a home loan, as the government may help you pay a portion of your home loan balance.

Top 8 Home Loans in South Africa 2022

Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted at [email protected]

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