TERMS

FBC BUILDING SOCIETY

NATIONAL BULDING SOCIETY

• Letter of introduction from MIPF
• Confirmation of Employment from the Mine.
• Bank Statement
• Certified Copy of ID or Valid Passport

• Copy of National Identification
• MIPF Introductory Letter
• Mortgage Loan Application Form

• No deposit required

• No deposit required

• Establishments fee – 4.5% of loan amount

• 5% of loan amount

• Employer to deduct from salary and benefits, and remit to the Society.

• Employer to deduct from salary and benefits, and remit to the Society.

• 60% per annum

• 60% per annum

• N/A

• N/A

• Penalty interest 25% of loan amount due

• Default interest up to 7% on top of loan interest rate

• Up to equivalent of USD10,000.00 at interbank foreign currency rate.  Repayments not to exceed 40% of net monthly salary

• Unsecured – up to equivalent of USD20,000.00 at interbank foreign currency exchange rate

• Up to 3 years

• Up to 5 years

• N/A

• Penalties may apply

• Employer to advise the Society on termination of contract of the member.

• Employer to advise the Society on termination of contract of the member.