This is a bridging loan to NHTF loan applicants to purchase, develop or renovate a residential house within specified locations. Opening deposit and monthly contribution for both savings and mortgage account are dependent on the customer income and loan requirement.

Key features and benefits
•Interest rate on savings account 4%per annum
•Interest rate on mortgage account Prevailing rates (presently 19%)
•Repayment period 2years (to be refinanced with NHTF loan)
•Minimum savings period before granting of loan 6months
•Total equity contribution expected from customer 20% of loan requirement
•Maximum loan amount N4.5million
•Security Financed property

Added value
•Access to bridging loan while waiting for NHTF loan
•Earn interest on your savings deposit
•Structured repayment plan to match customers budget/income
•Your lump sum of money is free to be used for other purposes instead of being tied down in a housing project