To be the most successful financial  institution in Malawi with a
 visible presence in Southern Africa.

Mission Statement

To provide the best financial services in Malawi and the region, distinguished by outstanding service, product innovation and sustained earnings growth.

Home Improvements & Mortgage Finance

Facility/Product and Purpose

  • Mortgage and Home Improvement Loans.
  • To assist customers to purchase, improve existing house, complete a house under construction, buy a plot or construct a house

Target Market

  • Salaried Employees and Account Holders resident in Malawi
  • Non-Resident Malawians with Foreign Currency Denominated Accounts
  • Foreign Nationals with Permanent Residence
  • Customers with regular income from business
  • Companies, organisations and institutions with sound financial capacity

Tenor and Terms

  • Up to 15 years for individual borrowers.
  • Up to 7 years for institutions.

Maximum Installment Amount

  • Up to 30% of net monthly pay/income, where customer is staying in a rented house.
  • Up to 35% of net pay / income where the customer is staying in own house.


  • Legal charge or mortgage
  • Security can be different property provided it is roofed and located in areas zoned for city or town status.

Interest Rates, Fees and Charges

Reviewed at Bank's discretion but currently
  • Base Rate for individual borrower.
  • Base Rate plus 4% for institutions.
  • Legal fees as per standard legal charges
  • Arrangement fees charged as per standard charges booklet.

Underwriting Requirements

  • Contribution of at least 10% of purchase price.
  • Title deeds in the name of the seller.
  • Remaining lease term not less than 15 years
  • Offer by seller in writing.( Not by agent/third party unless Power of attorney is submitted and held on file.)
  • Letter of undertaking to continue remitting salary to the bank account.
  • Pay slip not more than 30 days old.
  • Copy of Employment contract if applicable.
  • Property to be within areas zoned for city or town status.
  • Valuation by Bank's recommended valuers, not more than 5 years old.
  • Property being mortgaged to be physically inspected  by the Bank.
  • Mortgage Finance Application form completed.
  • Search Certificate from Lands- not more than  3 days old
  • House to be insured with Bank's Interest Noted (BIN).Premium paid up to date. House owners and Credit Life Insurance arranged preferably under Bancassurance Scheme.
  • MRA Tax Clearance Certificate and Ground/City rates clearance receipt, also required when creating a transfer of charge.
  • Sanction letter acknowledged by customer.
  • Costs and quotations for the completion and improvement (Bill of quantities)
  • Board resolution authorising the company to borrow in case of Limited Companies.