Home Loan

A house is more than an investment – it’s a place to call home and create memories that will last a lifetime. Invest in your future with a Standard Lesotho Bank Home Loan. We have simplified the process of buying, building or improving your home.

What it offers you

· A minimum loan of M100 000; maximum loan M10 000 000

· Loan is payable for up to 20 years

· You can apply to increase the principal amount on your existing home loan depending on the market value of your property

· You can apply for an AccessBond on your existing home loan whenever you need extra funds

· You need to take out mortgage protection cover or cede your own policy with the value equivalent to the amount of the loan, which will give you peace of mind knowing that your loan will be paid in full in the event of death

· The interest rate is linked to the prime lending rate and is based on your risk profile

· When the prime interest rate changes, your minimum repayment amount changes in line with the prevailing prime interest rate.

TOTAL MONTHLY EXPENSES ON THE CALCULATOR REFERS TO ALL DEDUCTIONS ON THE PAYSLIP

What you need to apply

You can apply for an access bond on your existing home loan whenever you need extra funds provided you have repayment ability.

You need to take out Mortgage protection cover on your home loan or cede your own life cover policy with the value equivalent to the amount of the loan, which will give you peace of mind knowing that your loan will be paid fully in the event of death or permanent disability.

A minimum loan of M100 000; maximum loan determined by your repayment ability
Maximum term for up to 20 years depending on the age of retirement and contract term if on contract
You can apply to increase the principal amount on your existing home loan depending on the market value of your property
You need to take out Mortgage Protection Cover or cede your own policy with the value equivalent to the amount of the loan, which will give you peace of mind knowing that your loan will be paid in full in the event of death
The interest rate is linked to the prime lending rate and is based on your risk profile
When the prime interest rate changes, your minimum repayment amount changes in line with the prevailing prime interest rate.
You can apply for an access bond on your existing home loan whenever you need extra funds provided you have repayment ability.
Homeowners cover protects your home against fire and allied perils.
Have been permanently employed
Earn a minimum net monthly income as per prescribed terms
Be a citizen of Lesotho aged between 21 and 60 years.

Visit your nearest branch with the following documents:

Your identity document
Proof of income
Bank account details
Employer's details
Any existing Standard Lesotho Bank home loan details, if applicable.

Documents required for:

Building a house

Lease
Properly designed plan
Building permit
Contractor’s quotations (Contractor must give us the following: trader’s licence, licence from Ministry of Works, income tax clearance certificate and references)
Proof of income
Identification
Down payment (if your employer doesn’t have a Group Scheme agreement with us)
Prestige and Private Banking pay no deposit
Evaluation report initiated by the bank

Buying a house