Individual Construction Finance

Affords People the opportunity to build houses according to their specification.

Features
  • Loan Purpose:To complete the construction of a house at a particular location both Abuja and Lagos with approved building plan & shall be in tranches with adequate monitoring by the bank.
  • Facility Limit: N15 Million
  • Tenor: 5 years maximum depending on capacity
  • Equity Contribution: 30% minimum of the BOQ cost of construction
  • Interest Rate: 22% per annum
  • Acceptable Title: Certificate of Occupancy or Right of Occupancy

Micro Mortgage Loan

This feature is mainly for employees of federal government and organised private sector.

Features
  • The tenor range of between 6 months and 12 months with a rollover option and rollover fee of 0.5%
  • Interest rate of 25% per annum

FGMB Mortgage

This loan is specially setup for individuals to purchase properties within and outside our developer's estate

Features
  • Tenor maximum of 4 years
  • Interest rate of 22% per annum
  • Acceptable title C of O
  • Equity 30% - 50% depending on capacity