This product is designed for the economically active average income earner who does not have access to traditional housing finance or mortgage. The product aims to provide housing loans based on generally accepted micro-finance principle (Short Term, Relatively Small Amount based on capacity to repay, at a competitive rate).
- Customers can access SMHL to part-finance purchase, construction and renovation of property.
- A customer only needs to contribute a minimum equity of 25% of loan amount.
- Customer can access between N1million to N5 million.
- Maximum repayment period of 5 years.
- Attractive and competitive interest rate
- Registered Title of the property is the collateral, no additional security required.