The Housing Advance Scheme is a benefit offered to nasfund Members while they contribute to the Fund.

Get ahead faster with the Housing Advance Scheme to speed home ownership.

Eligibility Criteria

  • Must be a Member of an Approved Superannuation Fund for five (5) consecutive years;
  • The amount you are applying for must be a minimum of K1,000 for your first advance;
  • Member may receive second advance after fully repaying the first advance.

Guidelines for accessing superannuation for Housing Advance

  • Purchase of principal place of residence for member;
  • Deposit for a housing Loan from a bank or licensed financial institution;
  • Purchase of state land for the construction of a dwelling of principal residence;
  • Member is able to withdraw his/her contributions to construct a house located on his/her own customary land. Note: Advances to build or buy a house in squatter settlements is not allowed;
  • Purchase of land or purchase and construction of a dwelling must occur within six (6) months of an advance;
  • A declaration of completion must be furnished to nasfund on finalization of the purchase or completion of the construction or addition to a house;
  • Purchase of solar panels or generators for the house;
  • Purchase of building materials to build a house;
  • Purchase of a stove or refrigerator;
  • Purchase of water tank &/or water pump;
  • Substantial renovation or improvement of and existing home owned by the member (Over K1000);
  • Labour & transportation costs of housing materials up to the value of K1000.00 only;
  • Member to repay housing advance by a further 2% of contribution from the employee portion until the advance is repaid.


  • Withdrawal of advance is a maximum of 100% of employee contribution;
  • Cannot be paid directly to the Member;
  • Further advances are subject to full repayment of the previous advance;
  • A further advance cannot exceed the initial advance.


Any breach of the Superannuation Act or misuse of the housing advance will render the application void. The Fund will cancel the application already paid or seek to recover the advance.

20% Equity for Home Loans

nasfund Members who are planning to:

  • Purchase a home;
  • Construct a home or;
  • Carry out repairs and maintenance to a home that is a Member’s principal place of residence.

Members can use their housing advance as equity to obtain housing loan from commercial banks.

What documents are required?

  • A Housing Advance Form (download);
  • A Member Data Update Form (download);
  • A copy of stamped Contract of Sale and Memorandum of Transfer;
  • A letter of offer from your bank or approved financial institution confirming availability of further funding;
  • A copy of title to the property (proof of ownership);
  • Quotation from the supplier of building materials and labour/transport costs from the contractor who is going to build the house or carry out maintenance or improvement(s). This is important as the cheque will be made payable directly to the supplier of the materials or the contractor and not to you;
  • If you are building a house on your own customary land or have already built a house but wish to carry out maintenance or improvement, you will have to complete a “Clan Land Usage Agreement” form. In the absence of a proper legal title, this document serves as proof of your ownership of land by customary right.

Housing Advance Checklist

1. Purchase of Property

Minimum of five (5) years membership with the Fund.

(I) Supporting documents and other necessary information

a) Copy of Title Deed/ Contract of Sale.
b) Letter of Offer and acceptance of purchase of property/ house.
c) Confirmation Letter from the bank.
d) Guarantee Letter.

(II) Customary Land Requirement

a) Clan Land Usage Agreement Form.
b) Signed and stamped.
c) SF2 registration form to confirm place of origin.

2. Builders/ suppliers requirement

a) Trading Certificate.
b) Certificate of Compliance.
c) Contractor’s Certificate.
d) Company profile and banking details.
e) Quotation of building materials.

3. Purpose for which housing is applied for

a) Purchase of a dwelling site/ house
b) Construction of a dwelling house.
c) Improvement/alteration to a dwelling house.

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