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Stanbic Bank Zimbabwe has introduced home loans to the Zimbabwean market to enable potential home owners realise their dream.
Head of Personal and Business Banking, Brian Ndadzungira, said in a recent interview, Stanbic Bank was well aware that “home is where the heart is” and was geared to play its part in helping potential home owners to have their own roofs over their heads.
“Stanbic Bank is aware that everyone dreams of having their own place to come home to and we are offering potential home owners an opportunity to make that dream a reality.
“In addition we also offer loans for home improvements for existing house owners. This will enable one to renovate or improve an
existing property,” said Mr Ndadzungira.
He said the home loans are at competitive interest rates with repayments up to 20 years.
Loan repayments are usually lower than what a person is paying in rentals for comparative properties. The home loans come with life and property insurance cover.
The property that a person can buy under the Stanbic home loans has to have acceptable title deeds which have not been used as security elsewhere.
Mr Ndadzungira said one
can have a joint application of the loan with their spouse thereby making it more affordable for couples who pool in their financial resources.
Given that buying a home can be complex and stressful, Stanbic Bank has a means to lessen the financial burden.
“To ensure commitment from
the buyer, our home loans come with a deposit commitment from the client.
“This means the prospective home owner has to raise part of the price of the house. Stanbic will allow you time to raise the deposit required.
“We have savings and investment product offerings that can assist you to raise the deposit.”
Online Reporter