23 January 2018
   
Museveni hails Trump for shithole slur
ZRP ‘Idiot’ Charamba loses cop insult case
Gukurahundi: Blame govt, not me – says ED
SA: Jazz legend Hugh Masekela dies
Cholera: Angry minister blasts city councils
Mzembi challenges arrest; quits politics
Mudzuri: Amnesty for MDC-T cop murder 3
Mnangagwa: Grace mentally unstable
MORE NEWS
Govt reduces excise duty on fuel
Filthy 5-Star hotels: Economy blamed
MORE BUSINESS
‘Am I African’ explores Zim's race conflict
Gafa’s Epworth concert draws thousands
MORE SHOWBIZ
Billiat might still leave: Sundowns coach
Katsande: Chiefs show championship mentality
MORE SPORTS
Mnangagwa’s ‘New’ Zim merits support
Zhuwao: kleptocracy and EDiots in Davos
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 

Getbucks says now offering mortgage loans with a 10-year tenure

22/12/2016 00:00:00
by Source.co.zw
 
 
RELATED STORIES

HARARE: Zimbabwe Stock Exchange (ZSE) listed financial services group, Getbucks says it is now offering mortgage loans to low income earners.

Chief finance officer Paul Soko told The Source following the group’s annual general meeting that the product was launched in November, with the loan attracting 18 percent interest per annum and is payable in 10 years with zero percent deposit.

“So far we just started and everyone is so excited by the product because unlike a traditional mortgage, we can give a mortgage of $2,000 to $5,000 which you cannot get from any other commercial bank. Its unique in that it appeals to low income workers,” said Soko.

Managing director Mercy Murevesi said Getbucks’ loan clients are 70 percent public service and 30 percent small to medium enterprises (SMEs).

The company is also pursuing the change of name to Getbucks Microfinance Bank early next year. Getbucks was granted a Deposit Taking Microfinance Licence by the Reserve Bank of Zimbabwe in January this year.

Its mortgage facility competes with FBC Building Society whose charges average 15 percent while ZB Holdings has several facilities with interest rates ranging between 15 percent and 18 percent.



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker