tawandamusarurwa
Online Reporter
National Building Society (NBS) has launched an asset financing facility, through its private banking arm.
Speaking at the launch recently, NBS managing director, Mr Tapera Mushoriwa, said:
“This is an opportunity for us to provide you, our clients, with high-end, tailor-made banking solutions specially customised to fit into your schedule.”
In asset-based lending, a person borrows money to purchase a home or car, and the asset being purchased acts as collateral for the loan.
If the loan is not repaid within the specified time, the lender reserves the right to seize the asset and sell it to pay off the outstanding balance of the loan.
NBS has gone into partnership with Croco Motors and ZIMOCO, as part of the asset financing program.
Bongani Ndlovu
Online Reporter