NMB Mortgage

by Sep 5, 2019

The Scheme is for the following purposes:

  • To purchase completed properties.
  • To purchase vacant serviced stands.
  • For building.
  • For home Improvement.
  • Equity release/refinancing/pay off loan balance with the Fund.


Special Conditions:




All contributing members of the Fund

No Deposit required (if Purchasing a stand or house)

Current Interest rate 15% p.a subject to change.

Valuation fee $320.00 (purchasing, building or property improvements)

Establishment fees 1% of the loan amount (once off)

Tenor up to 20 years

Interested members should open a Current Account as per the Bank’s requirements for the purposes of loan disbursements and repayments or salary credits

Security registration of mortgage bonds over properties with title deeds.

Mortgage loan insurance which covers death due to accident, natural causes and permanent disability (Mortgage protection policy)

Property insurance

Cession of pension benefits.







Confirmation of Accumulated Pension contributions to date

Letter from employer confirming permanent employment and undertaking to channel the salary or source deduction

Current payslip

Copy of ID

Copy of title deeds (purchasing, building or property improvements)

Agreement of sale (if Purchasing a stand or existing house)

Fully completed Mortgage Application Form

Copy of approved plan (if building and property improvements)

Quotations for work to be done (building and property improvements)

Bond fees approximately 5% of the loan amount.

Transfer fees approximately 7% of the purchase price.

For loan take over –Loan balance statements from the banks/fund.

Marriage certificate/Affidavit from spouse.



 Loan Entitlement:

Maximum Entitlement = Accumulated Capital in the fund as of date of loan processing.

NB- In all cases, this is subject to suitable valuation of property.                   


Application Flow Process:

  • Applications are made to the nearest NMB Bank branches.
  • The turnaround of applications up to approval assuming all the documentation has been submitted is approximately minimum 14 working days up to 21 working days inclusive of valuation.
  • For loans take overs, NMB liaises with the Fund to facilitate settlement of loan balance and transfer of title deeds to NMB.
  • For NMB purchases, NMB liaises with the Seller’s lawyers to facilitate transfer and registration of bond at Deeds Office.
  • For building finance, Once the bond has been registered, the Funds are disbursed to suppliers or contractors in stages upon approval by NMB valuers,
  • Once completed, NMB shall write source deduction letter with the repayment to the employer.


Branch Networks  

Branch Name Contact land numbers Email  
Harare Branches  
Joina/Angwa City Tendai  Mweta 04-759803/5 ,798865-9 tendaimweta@nmbz.co.zw  
Avondale Thandiwe  Kamaliza 04-708391-5 ThandiweK@nmbz.co.zw  
Borrowdale Witness  Tenderere 04-850983-9 witnesst@nmbz.co.zw  
Eastgate Sifiso  Mutema 04-797362-9 SifisoM@nmbz.co.zw  
Msasa Ruvimbo Bondayi 04-446100-9 ruvimbob@nmbz.co.zw  
Southerton Gladys  Simoya 04-775150-2/773901 GladysS@nmbz.co.zw  
Excellence Centre Sandra  Harid 04-850921-7 sandram@nmbz.co.zw  
Out of Harare Branches
Chitungwiza Kiosk Patricia Kundeya 0242 122462 / 122355  patriciak@nmbz.co.zw  
Bindura Kiosk Barbra Mutandwa 0271-6892/41/60/65 barbram@nmbz.co.zw  
Bulawayo Munyaradzi Chikosha 09-886628 munyaradzic@nmbz.co.zw  
Gweru Timothy Mangena 054-227704-6/226027 timothym@nmbz.co.zw  
Mutare Aurthur  Mupunga 020-69136-45 arthur@nmbz.co.zw  
Masvingo Charles  Mugadza 039-262810/262813/5 cmugadza@nmbz.co.zw  
Chinhoyi Faustina Marowa 067-25212-17 faustinam@nmbz.co.zw  
Kwekwe Charity  Mashava 055-25780-7 CharityMashava@nmbz.co.zw  
Victoria Falls Tawanda