• Call Us+260 211 224 653 / 225 080
  • Email at izb@izb.co.zm
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Ultimate housing loan and equity release

Eligibility

  • Salaried employees with Government/Semi-Government Institutions, Corporate and reputable business houses.
  • Professionals such as Doctors, Accountants, Lawyers etc.
  • Self employed people with proven regular income.

Purpose

  • Outright purchase, construction of new houses and renovation, extension of existing houses

Quantum of Finance

  • Minimum 20% of the project cost

Repayment Period

  • Repayment period not exceeding 120 months. The repayment period not to exceed the left over service period in case of salaried employees. Grace period of up to 6-12 months is allowed in case of construction of house.

Deductions:

  • Total loan deductions including installment on home loan should not exceed 50% of salary net of statutory deductions.

Interest Rate

  • BOZ Policy Rate plus margin 

Processing fee

  • 2.5% of loan amount (one time) .For loans repayable beyond 36 months 3% of loan amount.

Insurance

  • Full Insurance cover against death, permanent disability, insanity or any chronic illness resulting in inability to perform duties.
  • House owners insurance to cover risks such as fire, floods and other perils.

Security

  • Legal mortgage/Charge over property financed.

Requirements

Customer to complete our standard Home loan application form attaching the following:

  • Letter of offer in case of purchase
  • Council approved plan in case of construction/extension
  • Bill of quantity in case of construction/repairs/renovation/extension by a professional.
  • Copy of title deed
  • Copy of pay slip or proof of income in case of self employed.
  • Copy of NRC of the vendor.

Benefits

  • Attractive rate of interest.
  • Quick processing time
  • Full insurance cover
  • Flexible repayment terms
  • In case of couples, income of both parties is considered.
  • Guaranteed Home solutions.

Please contact your nearest branch for further details