Mortgage Loan

Your immovable assets, like land & building, can provide you desired liquidity in times of need. BoB Mortgage Loans come with low interest rates and are disbursed in quick time.

Eligibility

All individuals having fixed assets (land /building) collateral to back the loan and also have regular source of income.

Quantum

50% of the value of securities or Nu.500,000 whichever is lower with confirmed repayment source.

Interest Rate

9.60% (Floating)

Tenure

5 years maximum

Required Documents

  • Copy of CID of both the applicant and the guarantor

  • One recent passport size photograph of the applicant and the guarantor if any

  • Ownership certificates of collateral security offered to bank

  • Property valuation/assessment certificates for collateral securities only for buildings (land value not considered)

  • Copy of valid Insurance Policy for building offered as collateral

  • Copy of business license in case the loan is to be serviced from business earnings

  • Stamped and witnessed Letter of Consent for extension of charges duly signed by the property owner

  • Proof of income to service the loan – verified rental income, BIT, etc.

  • Declaration form must be signed and attached along with the application form