The Swaziland Building Society (SBS), in collaboration with corporate companies, where SBS offers lending facilities under agreed terms and conditions, is providing a product offer that includes urban home loan, rural home loans and personal loan.
Explaining the home loans schemes collaboration, SBS Corporate Group Schemes Consultant, Khulekile Mazibuko said: “This corporate scheme is called the ‘Combo Offer’ and it is in line with the society’s intention of improving emaSwati’s lives through the home loan offer. The idea to afford the nation an opportunity to develop property in urban or rural areas remains engraved in the legacy of the society.”
The reason behind the collaboration with corporate companies is intended to reduce the risk of default and the interest rate is preferential.
Urban home loans scheme
Mortgage Loan is a facility that enables individuals to buy either finished property or buy land, develop new property, renovate and extend existing house on titled land.
Features and benefits
- Offers differentiated interest rate
- The society can fund up to per cent of valuation
- Your employees have opportunity to achieve home ownership
Rural home loans scheme
It is a product that bridges the gap between urban home and rural property development. It enables individuals to buy finished property, buy land, develop new property, renovate existing house on Eswatini Nation Land.
Features and benefits
- This facility is secured by pension
- Acquire, build or buy land
- Installation of borehole
- Installation of electricity
- Renovation
- Extend property
- Your employees have opportunity to achieve decent home ownership
Personal Loan
This is a product facility offered for personal use. Your employee can use to pay business start-up, school fees, furniture, buy car, holiday and any other needs.
Features and benefits
- Differentiated interest rate
- Enjoy transacting convenience with SBS digital services
- Litsemba extend family funeral cover
How to get started?
Employer
- Employers enter into an agreement with the society
- Interested employers can contact the society on the contact details provided at the bottom
Individual employees whose employer already has a scheme agreement with the society
- Visit any branch to apply for a loan
- Main requirements include recent payslip, three months bank statement, pension fund balance, proof of residence and ID for loan application process to resume
- Loans are processed within 24 hours
- Repayment is up to remaining years to retirement
- Contract employees can also benefit
- It is of optimum advantage if the customer is primary banked with SBS. That is, if they are salaried through the society. Those who are salaried with SBS are at an advantage of winning the following amazing prizes:
- An all expenses paid MSC cruise return trip-Durban to Portuguese Islands
- Outdoor wooden table and beach umbrella
- Stepladder and wheelbarrow
Mazibuko states: “Our loans and properties have insurance cover. Property insurance includes protection against accidental damage caused by fire, break-ins, weather-related losses, and other risks as specified in the policy document. Additionally, urban and rural home loans are covered by credit life insurance in the event of the clients passing.”
SBS mortgage loan facility allows individuals to purchase finished properties, buy land, develop new properties or renovate and extend existing homes on titled land. (Pic: Prudential Financial)
