MICRO-HOUSING LOANS
INDIVIDUAL LOANS
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.
OBJECTIVES
- To contribute to socio-economic well being of low-income Malawians.
CUSTOMER BENEFITS
- No other collateral as the house is collateral.
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.
THRESHOLD
- Mwk 500,000.00 to Mwk 30,000,000.00.
TENURE
- 6 months to 36 months.
RATES/TARRIFS
- Interest rate 3.0% pm.
- Processing and admin fees 3.5% .
- Credit life insurance 1.0% upfront.
- Property insurance premium grossed up.
COLLATERAL REQUIREMENTS
- Sworn affidavit over unregistered land.
- Charge over registered land.
OPENING HOURS
MONDAY – FRIDAY
7:30 AM – 4:30 PM
CONTACT US
NATIONAL ECONOMIC EMPOWERMENT FUND
P.O BOX 779, LILONGWE
PHONE # : +265 999 941 333 | +265 999 938 333
EMAIL: info@neef.mw