Home Financing
Shebelle Bank will assist customers to buy their dream home through a‘Diminishing Musharakah’ (partnership) home loan facility. Shabelle Bank and the customer will enter into a partnership agreement to purchase an apartment/housing unit, which is rented to the customer.The customer is also offered the opportunity to purchases the equity owned by the bank, of the housing unit. The ownership of the bank is completely transferred to the customer over a time period.
Benefits
Financing available for residential property.
Up to 15 year repayment period.
Financing up to 80% of property value.
Competitive financing rate.
Relatively less documentation.
Simplified procedures.
Processing period of 3-5 business days.
Option for automatic deduction from the customer’s current/savings account.
Requirements
Proof of residency and income.
Down Payment.
Minimum age of 21 at the date of application.
An active account with Shabelle bank.