OUR MORTGAGES & LOANS

We offer a range of products and services all designed to help you live your best life! Building Society understands that a business unit should serve a wide range of client’s requirements. As a result we have made a customer-focused solution that adds to customer’s investment.

Get a NHF Loan

A special scheme administered by FMBN. It provides the financial support for a contributor to build, buy, renovate or improve his home.

Omoluabi Home Mortgage

This is a Residential Loan product designed to finance the acquisition of a house or property, which should be for residential purpose only.

Individual Mortgage Facility

This is a Loan product designed for individuals to finance the acquisition of a house or property, which should be for residential purpose only.

Corporate Mortgage Facility

This is a Loan product for corporate organizations designed to finance operations including expansion and asset acquisition.

Other Facilities & Loans

Get a Property Acquisition Loan(PAL), Omoluabi Certificate of Deposit(OSL COD) or an Omoluabi Housing Investment Fund(HI Fund).

Loans & Mortgages


National Housing Fund (“NHF”) Mortgage Loan

A special scheme administered by FMBN. It provides the financial support for a contributor to build, buy, renovate or improve his home

Eligibility

  • Any Nigerian above the age of 18
  • Applicant must be a contributor to the National Housing Fund for a minimum period of six months
  • Applicant must have satisfactory evidence of regular flow of income to guarantee loan repayment

How To Apply

  • Applicant is to apply through a duly licensed and accredited mortgage loan originator (MLO) of his/her choice and not directly to Federal Mortgage Bank of Nigeria (FMBN).
  • The MLO of the applicant’s choice must be accredited by FMBN to access the NHF facility.
  • Application forms for NHF loans are obtainable from the MLO
  • Amount contributed has nothing to do with the amount of loan you can access LOAN
  • The property for which the loan is sought shall serve as security for the loan.
  • The property shall conform to the existing planning laws and regulations (approved building plan).
Apply Here

Omoluabi Home Mortgage

This is a Residential Loan product designed to finance the acquisition of a house or property, which should be for residential purpose only. In most cases, the Customer already owns the landed property and must be a regular income earners/ established business owners with stable income.

Eligibility

  • Any Nigerian above the age of 18
  • Applicant must be a contributor to the National Housing Fund for a minimum period of six months
  • Applicant must have satisfactory evidence of regular flow of income to guarantee loan repayment

How To Apply

  • Applicant is to apply through a duly licensed and accredited mortgage loan originator (MLO) of his/her choice and not directly to Federal Mortgage Bank of Nigeria (FMBN).
  • The MLO of the applicant’s choice must be accredited by FMBN to access the NHF facility.
  • Application forms for NHF loans are obtainable from the MLO
  • Amount contributed has nothing to do with the amount of loan you can access LOAN
  • The property for which the loan is sought shall serve as security for the loan.
  • The property shall conform to the existing planning laws and regulations (approved building plan).
Apply Here

Property Acquisition Loan (PAL)

OMB in-house mortgage loan is designed to enable our customers access facility for the purpose of financing the renovation or remodelling of a property or for development of existing building projects or lands acquired. It is a product designed to assist non contributors of NHF to own houses without stress. It has the same characteristics as NHF mortgage loan except for the pricing.

Eligibility

  • Any Nigerian above the age of 18
  • Applicant must be an account holder with Omoluabi Microfinance Bank PLC
  • Applicant must have satisfactory evidence of regular flow of income to guarantee loan repayment

How To Apply

  • Applicant is to apply through a duly licensed and accredited mortgage loan originator (MLO) of his/her choice and not directly to Federal Mortgage Bank of Nigeria (FMBN).
  • The MLO of the applicant’s choice must be accredited by FMBN to access the NHF facility.
  • Application forms for NHF loans are obtainable from the MLO
  • Amount contributed has nothing to do with the amount of loan you can access LOAN
  • The property for which the loan is sought shall serve as security for the loan.
  • The property shall conform to the existing planning laws and regulations (approved building plan).
Apply Here

Investment Tools


Omoluabi Certificate of Deposit (OSL COD)

This is a Residential Loan product designed to finance the acquisition of a house or property, which should be for residential purpose only. In most cases, the Customer already owns the landed property and must be a regular income earners/ established business owners with stable income.

Features

  • Interest rate cap 7%
  • Minimum opening balance of ?1 million
  • Minimum lock-in period of 3 – 6months
  • Free investment advisory services from our team expert
  • Funds can be used as collateral for mortgage application after 6months – (Loan application are still subject to terms and conditions)

Product Target Market

  • Rate Sensitive Investors – Individuals and Corporate
  • No age limit is required.
  • Fund managers
  • Banks and OFI – i.e. Microfinance Banks, Primary Mortgage Banks, Insurance companies.
  • Working Class preparing for retirement
  • Retirees

Requirements

  • Two (2) recent passport photograph (full face forward, no glasses or head cover)
  • Duly completed account opening form (not need if there is existing parent account)
  • Duly signed signature specimen
  • Proof of identity: Copies of Driver’s License, International Passport, Permanent Voter’s Card, National I.D card.
  • Proof of Address: Utility Bill issued in the last 3months (IBDEC, Water etc.)
  • For corporate bodies: Company Registration particulars (Form CO2, Form CO7, Certificate of Incorporation, Memorandum and Article of association, Board Resolution, Search Report(Corporate Account Only)
Apply Here

Omoluabi Housing Investment Fund (HI Fund)

This is a Residential Loan product designed to finance the acquisition of a house or property, which should be for residential purpose only. In most cases, the Customer already owns the landed property and must be a regular income earners/ established business owners with stable income.

Features

  • Guaranteed return of interest on investment (10%)
  • Minimum account opening balance of N5 million
  • Minimum agreed lock-in period of six (6) months
  • Insurance cover
  • Investor will get discount from the real estate product on completion

Requirements

  • Two (2) recent passport photograph (full face forward, no glasses or head cover)
  • Duly completed account opening form (not need if there is existing parent account)
  • Duly signed signature specimen
  • Proof of identity: Copies of Driver’s License, International Passport, Permanent Voter’s Card, National I.D card.
  • Proof of Address: Utility Bill issued in the last 3months (IBDEC, Water etc.)
  • For corporate bodies: Company Registration particulars (Form CO2, Form CO7, Certificate of Incorporation, Memorandum and Article of association, Board Resolution, Search Report(Corporate Account Only)
Apply Here

Term Deposit / Fixed Deposit

The account is designed for the general public in order to cultivate their savings culture against emergency future occurrence.

Term Deposits

Account allows for money to be deposited for a period. The money is deposited for a period of days. The money deposited in this account cannot be withdrawn before the expiry of specified period. The rate of interest paid for fixed deposit vary (changes) according to amount and period. Interest rate are dependent on amount deposited. After the period, based on the initial instruction, the investment can either be re-invested or returned to you with the interest amount earned.

Fixed Deposit

If you plan on saving cash for the future on a long term basis, our deposit rates offer the best options for you as an individual and your business. The interest rate is fixed for the full period of your investment unless terminated before period of maturity.

  • Cash deposited can be fixed for a period of 30 to maximum of 180days subject to a role over at expiration of term, if there is no contrary instruction to defreeze the investment booked.
  • The interest rate payable is subject to the amount of fund invested subject to the review and approved by the treasury department.
  • Cash invested can be withdrawn if there is an urgent need for it by the signatory customer.

NOTICE

The General Public should please note that the bank will never request for account details,BVN, pin, etcetera via email or text message.

Please refrain from giving out such details to anyone. If you are unsure of a request, please send a mail to info@ombplc.com and we will be happy to assist you.