The CashPlus Housing Account is a high interest earning savings account which allows clients to save funds towards purchase of houses or housing stands as well as construction. The client will save half or more towards the purchase price or cost of construction, with the Bank matching the customer's contribution in the form of a mortgage loan.
Eligibility | Minimum 12 months regular deposits in the CashPlus Housing Savings Account. |
Tenure | 2 to 10 years |
Interest | 13% per annum |
Loan Amount | Up to the CashPlus Housing balance. However, the monthly loan repayment should not exceed the average monthly deposits made into the CashPlus Housing Account during the past 12 months. |
Upfront costs | Establishment fee - 3% of the loan amount (once off) |
Non–refundable Application Fee | $25 paid upon submission of the application. |
Valuation Fee | 1% of the loan amount (once off) |
Customer Segment | Individuals only |
Purchase of existing house or a residential stand
Building/property improvements
Upfront costs
The borrower should have funds available to meet the following costs related to the loan application;
Security
It is a requirement of all mortgage facilities that the following security be held;