Lilongwe 07:30 – 16:30 4295
MICROHOUSING LOANS

Contribute to socio-economic development.

MICROHOUSING LOANS

Individual Loan

Rate: Interest 4.0% pm Processing & Admin fees 3.5% Credit life insurance 1.5% upfront Collateral Insurance - TBA%

Target Market

Individuals either employed or engaged in micro or small enterprises from which repayments will come. Ages from 18 to 75 years. Purpose for the loan is to build, renovate or buy a dwelling house for the applicant.

Tenure

6 months - 36 monthsMinimum Grace period of 1 month may be granted

Thresholds

Minimum K5,000,000 to Maximum K30.0 million

Objectives
  • Contribute to socio-economic development.
Benefits
Requirements
  • National ID
  • Identification letter from Village Head or local leader in an urban location
  • Proof of ownership of plot
  • Bill of quantities for the project
  • Sketch Map to residence
  • Police clearance report
  • Sketch map to place of business.
Collateral
  • Sworn Affidavit over unregistered land.
  • Charge over registered land
  • Vehicles
  • Woodlot/Orchard
  • Plant and Equipment
  • Household Chattels
  • Furniture, Fixtures and fittings
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