Access Bank Zambia Unveils Competitive Mortgage Loan to Boost Homeownership
25th February 2025
ACCESS Bank Zambia has launched its Mortgage Loan financing solution, a facility designed to make homeownership a reality for customers, with financing available for amounts of up to K20 million.
Recognizing that owning a home is a fundamental step towards financial security, the bank aims to contribute towards increasing the number of homeowners countrywide.
With affordability at its core, the Access mortgage offers competitive interest rates tailored to suit different budgets. The flexible repayment terms provide tenors of up to 20 years, allowing customers to own homes at a manageable pace and rate.
Reiterating the importance of property accessibility, the Bank has indicated the importance of customers being able to secure both commercial and residential properties in strategic locations nationwide. The loan caters to a diverse clientele, including salaried employees, small-to-medium enterprises (SMEs), and medium-to-large corporations.
Additionally, a flexible debt service ratio cap-allowing up to 60% of take-home income provides repayment flexibility tailored to varying income levels.
All properties accessed through the mortgage will be insured through the Bank’s Bancassurance service.
Speaking on the Mortgage launch, Access Bank Zambia Managing Director, Lishala C. Situmbeko, emphasized the bank’s broader vision of financial empowerment through strategic products like the Mortgage Loan.
“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. Our aspiration is to see more of our customers transition from renting to homeownership, and we are proud to play a role in making that a reality.”
Head of Retail and Business Banking Teza Ngulube highlighted the bank’s commitment to increasing homeownership countrywide.
“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. The Access Mortgage Loan is designed to help individuals and businesses take this important step towards securing their future.”
The mortgage loan is available at all Access Bank branches nationwide and interested applicants can visit any branch for more information on eligibility and the application process. Through this initiative, Access Bank Zambia continues to play a leading role in fostering financial inclusion and economic empowerment, helping more Zambians achieve their dream of homeownership.
Issued by:
Kalumbu Nyikosa-Kearns
Head, Corporate Communications and Brand Management
Email: Kearnsk@accessbankplc.com
Mobile: +260977754661