TERMS

FBC BUILDING SOCIETY

NATIONAL BULDING SOCIETY

CABS

• Copy of National Identification
• MIPF Introductory Letter
• Mortgage Loan Application Form
• Copy of Agreement of Sale
• Copy of Title Deeds
• Quotations of cost of development in respect of municipal approved plans

• Copy of National Identification
• MIPF Introductory Letter
• Mortgage Loan Application Form
• Copy of Agreement of Sale
• Copy of Title Deeds
• Quotations of cost of development in respect of municipal approved plans

• Copy of National Identification
• MIPF Introductory Letter
• Mortgage Loan Application Form
• Copy of Agreement of Sale
• Copy of Title Deeds
• Quotations of cost of development in respect of municipal approved plans

• No deposit required

• No deposit required

• No deposit required

• Establishments fee – 1.5% of loan amount

• Equivalent of USD100 at interbank exchange rate

• ZWL$1,000.00

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

• 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

• 60% per annum

• These costs will form part of the loan if covered under member’s entitlement

• These costs will form part of the loan  if covered under member’s entitlement

• These costs will form part of the loan  if covered under member’s entitlement

• Penalty interest 25% of loan amount due

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

• Penalty interest 18% of loan amount due

• Depends on entitlement as calculated by the Society and repayments not to exceed 40% of net monthly salary

• Depends on entitlement as calculated by the Society,  up to a maximum of 40% of gross monthly salary

• Depends on entitlement as calculated by the Society,  and repayments not to exceed 35% of gross monthly salary

• Up to 20 years

• Up to 25 years

• Up to 20 years

• Penalties may apply

• Penalties may apply

• 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.

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