NMB Bank offers mortgage loans for the purchase of stands, houses, home extensions and improvements. Home improvements may include but are not limited to boreholes, driveways, swimming pools, perimeter walls, electric gates, solar lighting and heating systems.
We also offer mortgage finance under the employer-assisted housing schemes, where advances are given to employees against employer investments. Loans under this scheme are offered at significantly lower interest rates. In addition, no initial deposit is required.
Home Improvement Loan
We offer Home Improvement Loan facility with a repayment period of up to 5 years. Home improvements may include but are not limited to boreholes, driveways, swimming pools, perimeter walls, electric gates, solar lighting and heating systems and property renovations.
Property Re-mortgage or Equity Release
We have introduced a property re-mortgage product (Equity Release), which enables a person with a fully paid for residential property to apply for a loan leveraged against the value of that property. The loan may be used for investment purposes and other related business ventures.
Dream House Savings Account
This is a Mortgage lending related product suited for individuals who want to save towards the 25% deposit requirement for a Mortgage loan.Upon raising the required deposit through the Dream House Savings account, one can then apply for a Mortgage loan which is subject to the relevant terms and conditions.
It is a zero cost account with no withdrawal fees and monthly service fees. The account should have a minimum balance of US$50, and regular deposits should be made into it. The minimum investment period before any withdrawals can be made is 12 months. An Interest rate of up to 7% p.a is earned on an incremental balance basis and capitalised monthly. This means that you earn more interest on a higher balance.
- Dream House Savings Account Application Form
- Individual Mortgage Loans Requirements
- Diaspora Mortgage Lending Requirements
- Mortgage Refinancing – Property Remortgage Conditions and Requirements
- Mortgage Loan Application Form
- Home Improvement Loans Ts and Cs
- Home Improvement Loan Application Form