Brighton Gumbo Business Reporter
STANBIC Bank Zimbabwe has introduced home loans repayable up to 20 years to the market to enable potential homeowners in the country to realise their dream. The bank’s head of personal and business banking, Brian Ndadzungira, said the new funding facility would help ease accommodation shortages.
“Stanbic Bank is aware that everyone dreams of having their own place to come home to and we’re offering potential home owners an opportunity to make that dream a reality,” he said.
“In addition we also offer loans for home improvements for existing house owners. This will enable one to renovate or improve an existing property.” Ndadzungira said the home loans were being offered at competitive interest rates.
“Loan repayments are usually lower than what a person is paying in rentals for comparative properties. The home loans come with life and property insurance cover,” he said.
The facility allows one to have a joint application of the loan with their spouse, making it more affordable for couples who pool in their financial resources. Meanwhile, the financial institution has received an excellence award for adhering to good corporate governance by the Institute of Chartered Secretaries and Administrators in Zimbabwe (ICSAZ).
The bank was second runner up in the banking institutions category at the awards ceremony in Harare last week. “Stanbic Bank is greatly honoured and appreciates this recognition from ICSAZ. The bank strives to strictly adhere to good principles on corporate governance through transparency and integrity,” Stanbic chief executive officer Joshua Tapambgwa said.
He said the bank was committed to serving its clients in a way that promotes and ensures harmony. Stanbic Bank Zimbabwe is one of the biggest banks operating in Zimbabwe with 20 branches across the country. It offers a variety of products and services for individuals and organisations.