This product is intended to support members to build family homes to reduce the burden that comes with renting a house. The following shall apply;
- The land to be constructed on should have a land title and owned by either party in cases where a member is married and consent from the spouse.
- Approved plan
- The parties shall have to sign the powers of attorney authorizing the member to use the land as security for the loan if the title is registered in more than one party.
- The loan repayment shall be on a monthly basis for a period not exceeding 60 months.
- An interest rate of 16% per annum reducing balance