Qualifications and Requirements

Target Group
 - Individuals ( Salaried employees or self employed)
 - Institutions ( profit making or non profit oriented )


 - Buying or Constructing; Offer letter / sale agreement
 - Identification document ( Passport or drivers licence)
 - Income documentation (3 most recent payslips or letter of salary confirmation from employer or 6 months recent bank statements for self employed).
 - Copy of certificate of lease or land certificate.
 - Bills of quantities and approved plans (building)
 - A valuation report from a registered and bank approved valuer/ quantity surveyor ( buying or building )
 - An NBS Bank active account aged 6 months and above

 ( In addition to the above requirements)
 - Memorandum / Articles of Association
 - Board resolution to borrow from the bank.
 - Audited accounts for preceding financial periods plus latest management accounts.

Facility amount
 80% collateral value

Interest rate
 - Base lending rate (owner occupied)
 - Base +2.5% (for renting purposes)
 - Base +2.5% ( Commercial buildings)
 - Base + 2.5%( Personal Loan against mortagage )

 - 180 month maximum for occupational mortgage
 - 120 month maximum for rental mortgage.
 - 60 month for commecial morgage and personal loans against mortgages

 Interest calculated on reducing capital balance basis Monthly, Quarterly, biannually repayments

 Mortgage Department (Head office) and Capital City Branch (Lilongwe)

 - Property gets insured against loss due to fire and other natural causes
- Borrower’s life is insured to protect the mortgage (funds used to liquidate or reduce loan amount upon death of borrower)
 - NBS Bank mortgage can also be used to build anew house.