Loan purpose
The loan product shall cover all legally compliant purposes which shall include but are not limited to the following:-
- Purchase of other properties for investment purposes.
- Business ventures.
- Building other properties.
- Property improvements.
- Educational fees
- Medical fees
Security
- Title deeds for an unencumbered urban residential property.
Maximum Qualification & Requirements
- Gross Salary/Average constant monthly income * 15
- Copy of certified ID/Passport
- 3 months’ CBZ Bank Account showing income
- Confirmation of employment/proof of source of income
- Letter of undertaking by employer to channel salary to CBZ for the duration of the loan
- Fully completed Mortgage Application Form
Loan to Value Ratio
Legal fees
- Bond registration shall be capitalized into the loan
Insurance for the mortgaged property (HOC)
- The Bank shall arrange a comprehensive insurance cover through CBZ Insurance for the mortgaged property to cover against fire and other usual risks.
Life Cover
- To be arranged through CBZ Life
TERMS AND CONDITIONS
| Tenor | Maximum of 10 years |
|---|
| Interest rate |
15 % p.a. |
| Application fees |
US$75 |
| Valuation fees |
0.5% once off |
| Establishment fees |
1.5% once off |
| Administration fee |
1% annual administration fees |
| Bond fees |
To be part of the loan |
Terms and Conditions apply.