Mortgage Finance - POSB | People's Own Savings Bank

MORTGAGE FINANCE

Secure mortgage with competitive interest rates.

ORDINARY MORTGAGE LOANS
Equity Refinance Loan

ORDINARY MORTGAGE LOANS Requirements

Applicant to open an account with POSB
Proof of acceptable income (Proof of Savings or Payslip)
Copy of Title Deed of the property
Agreement of Sale signed by all parties
Proof of Deposit (25% of Selling Price)
Proof of Survey where Title Deeds are not yet available
Original Identity Document such as National ID, Passport, or Driver’s License and a clear photocopy of the same
Copy of Approved Building Plans, Quotation for materials from reputable suppliers, and labour (for building loans).
Quotations for the proposed improvements (for home improvement loans).

Benefits

Available for the purposes of buying and building on a stand, building on an existing stand or completing an existing structure or for home improvements..

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EQUITY REFINANCE Requirements

Applicant(s) must be a POSB Account Holder (for at least 3 months).
Original Identity Document such as National ID, Passport, or Driver’s License and a clear photocopy of the same.
Letter from employer confirming salary, retirement age, and contract of employment which should be long enough to cover loan tenure.
Copy of the Title Deeds of the property to be financed.
Customer’s written Statement of Purpose.
Proof of Acceptable Income to service the Loan e.g. Payslip (in the case of a formally employed individual).
Bank Statements for the past 3 months on which salary is received.

Benefits

Available for the purposes of buying and building on a stand, building on an existing stand or completing an existing structure or for home improvements..

Apply Now

SMARTSAVE Requirements

Initial deposit.
Original ID: National ID, Driver’s License or valid passport
Copy of your ID
Current proof of residence: Latest Utility Bills; Letter from Employer, Headmaster, Chief, or District.
Club Constitution/ Resolution/ Minutes (for Club Savings accounts).

Benefits

A flexible savings account that allows individuals or collectives to save over reasonably long periods with provisions for making frequent additional deposits into the account. To encourage saving, clients will only be able to make their first withdrawal after 3 months and are allowed a maximum of 4 withdrawals per year..

Apply Now

EASYSAVE Requirements

Initial deposit
Original ID: National ID, Driver’s License or valid passport
Copy of your ID
Current proof of residence: Latest Utility Bills; Letter from Employer, Headmaster, Chief or District.
Club Constitution/ Resolution/ Minutes (for Club Savings accounts).

Benefits

A term deposit from a minimum of 1 month up to 12months with an option to withdraw or rollover at prevailing interest rates upon maturity. The EasySave Account is ideal for individuals or groups with a desire to save towards a specific goal over a specific time frame..

Apply Now

JUNIORSAVE Requirements

Initial deposit
Child’s original and clear copy of ID (National ID, Driver’s License or valid passport).
Parent/ guardian’s original and clear copy of ID (National ID, Driver’s License or valid passport).
Parent/ guardian’s current proof of residence (Latest Utility Bills, Letter from Employer, Headmaster, Chiefs or District District).

Benefits

Tax-free interest at competitive rates.
No monthly service fees.
No withdrawal fees.
Account holders can be issued with a ZimSwitch-enabled debit card for ease of transacting.
Encourages saving culture as clients will only be able to make their first withdrawal after 3 months and are allowed a maximum of 4 withdrawals per year.

With POSB you are never too young to start saving. Parents can open Junior Save accounts for their children from birth up to the age of 16years..

Apply Now

TRUST ACCOUNT Requirements

Original ID (National ID, Driver’s License or valid passport)
Copy of ID
Proof of Residence
Trustees’ copies of IDs
Copy of Trust deed
List of signatories to the account

Benefits

An investment account targeting individuals, group of individuals and corporates who want to make savings and investments for different beneficiaries. .

Apply Now

HER SMARTSAVE Requirements

Initial deposit.
Original ID: National ID, Driver’s License or valid passport
Copy of your ID
Current proof of residence: Latest Utility Bills; Letter from Employer, Headmaster, Chief, or District.
Club Constitution/ Resolution/ Minutes (for Club Savings accounts).

Benefits

A flexible savings account that allows individuals or collectives to save over reasonably long periods with provisions for making frequent additional deposits into the account. To encourage saving, clients will only be able to make their first withdrawal after 3 months and are allowed a maximum of 4 withdrawals per year..

Apply Now

HER EASYSAVE Requirements

Initial deposit
Original ID: National ID, Driver’s License or valid passport
Copy of your ID
Current proof of residence: Latest Utility Bills; Letter from Employer, Headmaster, Chief or District.
Club Constitution/ Resolution/ Minutes (for Club Savings accounts).

Benefits

A term deposit from a minimum of 1 month up to 12months with an option to withdraw or rollover at prevailing interest rates upon maturity. The EasySave Account is ideal for individuals or groups with a desire to save towards a specific goal over a specific time frame..

Apply Now

Contact Us

ORDINARY MORTGAGE LOANS Requirements

Benefits

Available for the purposes of buying and building on a stand, building on an existing stand or completing an existing structure or for home improvements..

EQUITY REFINANCE Requirements

Benefits

Available for the purposes of buying and building on a stand, building on an existing stand or completing an existing structure or for home improvements..

SMARTSAVE Requirements

Benefits

EASYSAVE Requirements

Benefits

A term deposit from a minimum of 1 month up to 12months with an option to withdraw or rollover at prevailing interest rates upon maturity. The EasySave Account is ideal for individuals or groups with a desire to save towards a specific goal over a specific time frame..

JUNIORSAVE Requirements

Benefits

With POSB you are never too young to start saving. Parents can open Junior Save accounts for their children from birth up to the age of 16years..

TRUST ACCOUNT Requirements

Benefits

An investment account targeting individuals, group of individuals and corporates who want to make savings and investments for different beneficiaries. .

HER SMARTSAVE Requirements

Benefits

HER EASYSAVE Requirements

Benefits

A term deposit from a minimum of 1 month up to 12months with an option to withdraw or rollover at prevailing interest rates upon maturity. The EasySave Account is ideal for individuals or groups with a desire to save towards a specific goal over a specific time frame..

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