NMB Bank offers mortgages for the purchase of residential and commercial properties as well as 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.
Employer-assisted Mortgage Scheme
NMB Bank offers mortgages under the employer-assisted scheme, where advances are given to employees against their employer's investments with the bank. Loans under this scheme are offered at significantly lower interest rates. In addition, no deposit is required.
Property Remortgage or Equity Release
This product enables a person with a fully paid for residential property to apply for a loan leveraged against the value of that property. The loan can 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.
For more information Kindly contact our Mortgages department on Mortgages@nmbz.co.zw
Download the application form here.