Access Bank Zambia Launches Competitive Mortgage Loan to Boost Homeownership
Access Bank Zambia has introduced a Mortgage Loan financing solution aimed at increasing homeownership across the country. The facility offers financing of up to K20 million, making it possible for individuals and businesses to own property with ease.
With affordability at its core, the mortgage features competitive interest rates and flexible repayment terms of up to 20 years. The bank is focused on ensuring more people transition from renting to owning homes at a manageable pace. The mortgage is available for both residential and commercial properties in strategic locations nationwide.
Speaking on the launch, Access Bank Zambia Managing Director, Lishala C. Situmbeko, highlighted the bank’s vision for financial empowerment.
“Housing is a fundamental pillar of economic and social development. Through this mortgage offering, we are reinforcing our role in providing financial solutions that uplift individuals, businesses, and the economy at large,” Situmbeko stated.
The loan facility is open to salaried employees, small-to-medium enterprises (SMEs), and large corporations. It also offers a flexible debt service ratio cap of up to 60% of take-home income, ensuring that repayment plans are tailored to different income levels.
Teza Ngulube, Head of Retail and Business Banking, emphasized the bank’s commitment to increasing homeownership nationwide.
“At Access Bank, we believe that every Zambian deserves the security of owning a home. Our goal is to contribute towards achieving 100 percent homeownership by offering affordable and flexible mortgage financing,” said Ngulube.
Additionally, all properties accessed through the mortgage will be insured under the bank’s Bancassurance service, providing extra security for homeowners.
The mortgage loan is now available at all Access Bank Zambia branches, where interested applicants can visit for more details on eligibility and the application process.
