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.

• 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.

• 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.
• Member is able to withdraw his/her contributions to construct a house located on his/her own customary land.
• 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.

Note: Advances are only applicable to State or customary land.

1. You must be an active contributor to an Approved Superannuation Fund for five (5) consecutive years or more.
2. The amount you are applying for must be a minimum of K1,000 for your first advance.
3. Members may receive a second advance after fully repaying the first advance.