PBZ BANK LTD
USD Buy: 2330.000 Sell: 2372.000 USD 5,10 & 20 Buy: 2200.000 Sell: 2372.000 USD 1 Buy: 2000.000 Sell: 2372.000 GBP Buy: 2820.000 Sell: 2949.000 GBP/USD Buy: 1.204 Sell: 1.260 EUR Buy: 2475.000 Sell: 2591.000 EUR/USD Buy: 1.057 Sell: 1.106 UGA Buy: 0.450 Sell: 0.790 KSH Buy: 16.500 Sell: 23.500 ZAR Buy: 100.000 Sell: 150.000 OMR Buy: 5980.000 Sell: 6120.000 AED Buy: 610.000 Sell: 655.000 SAR Buy: 560.000 Sell: 650.000
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MORTGAGE LOAN

This is the new product which the PBZ has just started to issue. This type of loan allows a customer to obtain a certain amount of money so as to finance purchase or construction of a house.

Eligible customers
Eligible customers:

• Employed customers
• Self- employed customers
• Limited liability companies
• Partnership enterprises.

Types of mortgage loan
Types of mortgage loan:

• Buying business premises
• Extending existing business premises
• Making residential and commercial investments
• Developing property

Requrements
For employed customers

• PBZ customer for at least six months
• Permanent employee
• A customer should provide:
- Two passport size photo
- Certified copy of passport/ or residency permit
• Salary slip for the past three months
• Application letter to request the loan from the bank

For self-employed customers
For self-employed customers:

• He/ She should be a PBZ customer for at least six months.
• A customer should provide:
- Business license
- TIN or VAT
- Physical business location
- Three passport size photo
- Certified copy of passport/ or residency permit
• Certified copy of certificate of registration
• Audited financial statements.
• Cash flow projections
• Customer should provide documents showing the arrangements with the seller (if any)
• Customer should provide documents showing the value of the house.

For limited companies and partnership enterprises
For limited companies:

• PBZ customer for at least six months.
• Customer should provide:
- Copy of valid business license
- TIN or VAT
- Physical business location.
- Three recent passport size photo
- Copy of passport/ or residency permit.
• Audited financial statements for a period not less than two years.
• Cash flow projections.
• Title deed of fixed security.
• Certified board resolutions
• CVs of directors
• IDs of directors
• Memorandum and Articles of associations
• Copy of certificate of incorporation

For partnership enterprises
For partnership enterprises:

• PBZ customer for at least six months.
• Customer should provide:
- Business license
- TIN or VAT
- Physical business location.
- Three recent passport size photos
- Copy of passport/ or residency permit.
• Audited financial statements for a period not less than two years.
• Cash flow projections.
• Title deed of fixed security
• Partnership deed
• CVs of managing directors
• IDs of directors
• Copy of certificate of registration

Benefits
Benefits:

• You can keep ownership of your business and your business premises. Other investment options might involve you giving up some of your business ownership
• You can make substantial capital gain. This can be a great way of realizing capital growth over a long period
• Commercial mortgages are not subject to rental fluctuations of residential properties giving you a more stable business planning environment
• Improved cash flow management. Commercial mortgage payment plans normally extend for a number of years letting a business focus on profit and loss and cash flow matters
• providing the lender agrees, you can sub-let some of your business premises.



Interest charges

• The interest charges for mortgage finance is 21%

PBZ BANK LTD