Business

Home Loans Requirements

Documents Required from Applicants

Documents for Companies, Partnerships and other institutions

  • Business Proposal/plan
  • Last three (3) years’ financial statements(audited if possible)
  • Latest management accounts
  • Yearly cash flow projections for 36 months
  • Memorandum and Articles of Association (companies)/Partnership Agreement (partnerships), Certificate of Incorporation (companies) and Constitution (other institutions)
  • Resolution to borrow (certified by company secretary)
  • Proof of shareholding (Forms 2 + 5)
  • Past 3 months’ bank statements of the business entity
  • Proof of business premises : utility bill (i.e. electricity or water or automated alarm,etc)

General Documents for Directors

  • CV’s for all directors
  • Any other additional information considered valuable towards the evaluation of the application
  • Personal balance sheets for each director 
  • Proof of current residential address for each director : utility bill (i.e. electricity/water/automated alarm)
  • Original/certified copy of work and residence permit/s for each expatriate director
  • Bank account details for each director (to enable us to request Bank reports)
  • Original/certified copy of Marriage Certificate/ante-nuptial contract/decree absolute (if applicable) for each married director
  • Original/certified copy of Omang for each married director (Batswana)/passport (expatriates). If married, the same documents are required for spouses

Please Note:  Matrimonial and spouse identity documents are for our internal use of capturing personal information and we request that they be submitted, for spouses that are not directors.

Proof of Property/Proof of Purchase of Property

  • Valuation report (please contact home loans department for details)
  • Copy of Deed of Sale
  • Copy of Title Deed

Building Loans

  • Approved plans and building permit
  • Three (3) signed building quotes
  • Bill of quantities
  • Soil analysis report
  • Architect’s profile
  • Contractor’s profile

Basic General Information

  • The Bank finances 90% of the Open Market Value or purchase price or building price, whichever is the lesser
  • The minimum deposit is 10%. The Bank reserves the right to call for a higher deposit.
  • The base rate is the Prime Lending Rate
  • The Bank may consolidate ancillary costs into the loan amount
  • House-owners insurance cover is compulsory and is offered through Penrich    Insurance Brokers
  • The Bank will appoint its bond attorneys
  • The Bank will appoint its valuers
  • The maximum loan term is 15 years.
  • The Bank conducts credit reference checks
  • Payments are effected after registration of the bond