Diaspora

Diaspora

What you need to know?

Investing back home and becoming an NBS client can be as easy as ABC. Here is what you need to know and the products available to you.

Who is the diaspora client?

A diaspora client is a non-resident Zimbabwean who would like to enjoy the banking services and products offered by NBS. These services include access to a wide array of banking products such as transactional and savings accounts, insurance services and mortgage finance.

What can we do for you as a diaspora client?

We have a variety of affordable mortgage products available to you for investment. These include outright purchases of property, building and home improvement finance in the high to medium density areas. Our interest rates on mortgages range from 9.5% - 11.5% with a repayment tenure of up to 25years.

Can I start saving for a mortgage while abroad?

Yes you can start saving for your 15% deposit on mortgage loans while abroad through our Access Save and Subscription savings accounts. These accounts are designed to promote a culture of saving in clients who wish to save for a particular goal such as mortgage loan. Interest rates on these accounts are on a sliding scale from 2.5% - 4.5% per annum depending on the period of savings.

What is the process for applying for a mortgage?

The first step towards applying for a mortgage is to become an NBS client through any of the transactional and savings accounts i.e  Easy Transact, Access Save  and Subscription accounts. You will then be required to provide your proof of income details and basic expenses such as rentals (if any). You will then be appraised and advised on the loan amount that you qualify for. This process will enable you to plan properly and make decisions on the best property investment to suit your budget.

For outright purchases of property, you will be required to send through the details and paperwork for vetting and processing provided the property in question has title deeds. For building and home improvement loan, title deeds for the property will also be required before the loan processing.

Some of the required documents include:

  1. Copy of Zimbabwean passport with a valid work permit
  2. Copy of recent utility bill or letter from employer confirming residential address
  3. Letter fom employer stating terms of employment, income and retirement age
  4. 3 recent pay slips
  5. 6 months latest certified salary on a bank statement
  6. Draft sales agreement/offer letter/ title deeds (in the of building or home improvement loans)
  7. Evedence of deposit or downpayment (in the case of out right purchases)

For more information please contact us on :

  • Mortgages department   00263 4 700042/89/92
  • Samora Machel Branch   00263 4 770480/83
  • JMN Nkomo Branch       00263 9 71227/23/24