FCMB offers N75m mortgage loans
First City Monument Bank (FCMB) is offering mortgage loans worth N75 million to simplify homeownership for Nigerians.
According to a Central Bank of Nigeria (CBN) report, Nigeria requires about 700,000 housing units yearly for 20 years to accommodate the rising population, which is about 197 million.
FCMB seeks to bridge the housing deficit through its unique homeownership value proposition.
The bank has urged the populace, including workers, to take advantage of its convenient and flexible mortgage loan product to fulfill their homeownership dream. Customers can get the funds needed to finance the cost of buying land to build a home quickly at an affordable interest rate with monthly or quarterly payment options depending on their income.
The Divisional Head, Personal Banking of the bank, Shamsideen Fashola, said: “Homeownership is one of the most important accomplishments of an individual as it goes a long way to secure the future. As a responsive and customer-centric institution, our mortgage loan product is tailored towards helping our customers become landlords, thereby making them secure, accomplished, and fulfilled. The mortgage loan is easy to obtain, and repayment is flexible. We want to be part of the success story of our customers. We will continue to support our customers’ dreams and that of Nigerians by giving them the financial support they need to be homeowners when it matters most. We, therefore, advise them to take advantage of the opportunities we offer in the mortgage segment.”
The bank’s decision to make the loans easily accessible to Nigerians responds to the impact COVID-19 pandemic has had personal and household incomes and business.
FCMB, a member of FCMB Group Plc, led by Ladi Balogun as Group Chief Executive, is committed to COVID-19 recovery, income equality and poverty reduction by easing credit constraints to disadvantaged individuals and small businesses.
The intervention of FCMB in the housing sector aligns with Goal 11 of the Sustainable Development Goals (SDGs), focused on making cities and human settlements inclusive, safe, resilient, and sustainable.