NBS committed to finance home ownership for Zimbabweans

Tinashe Nyahasha Avatar

National Building Society (NBS) is not just the cute new bank (building society) with a fresh and modern banking hall at Karigamombe Centre. Truth is, National Building Society is indeed the cute new bank with a fresh and modern banking hall at Karigamombe Centre but it is way more than that!

If you do not have time to read the rest of this article and the articles on NBS that will follow this one, here is the sweet summary: NBS is this awesome institution whose sole mission is to give you access to finance so you cease to be a lodger…

There is so much to write about National Building Society, in fact too much. The best way to do this is to commission a series of articles about this new kid on the Karigamombe block or the JMN Nkomo block if you’re in Bulawayo. Here it is Ladies and Gentlemen, a series on NBS is hereby commissioned. Here’s what to look forward to:

Of course the biggest story will be on mortgage finance. The building society offers the most affordable and inclusive home ownership finance solution in the market right now. If you are a first time homeowner and you are building in the high density suburbs then you can access a mortgage at 9.5% per annum. The rest will access financing at 11.5% per annum. Don’t worry I will give you details as we move with the series…

Look forward to hearing me make noise about the quality of customer care at NBS. These guys are trained well hey. They know their product features and benefits like the back of their hands (excuse the cliche). I think it is fair to mention a lady called Bridgette by name. When I walked into their Karigamombe branch asking about mortgages she told me all I needed to know in the simplest of terms and with a perfect smile on top- hope management is reading! There was Thokozile on the front desk too I think and she was awesome.

In the coming weeks, expect to learn about the leadership of NBS and their simple vision to make home ownership a possibility for everyone who is at least fortunate enough to afford paying rent at the moment. I hope I will be able to interview some of these men and women who are driving this vision- maybe a video interview will be ideal…

Those of you who are not in Harare or Bulawayo be glad: I will also give you details on the branches that they will be opening around the country. You will also learn about their agency banking network as well.

It will be interesting to investigate the different relationships that NBS has and is establishing with strategic partners to make their monster goal a reality. Most of you know that NBS is owned by NSSA right? It is worthwhile then to look at what that means and how it affects the institution if at all.

We will explore the different types of accounts you can open with NBS and how long you need to be banking with them before you can apply for mortgage or any other type of loan (they offer some of those too hey). Anyway, I could go on and on spoiling this series for you (I’m still mad at my cousin for spoiling Game of Thrones for me). If you like what you heard so far and you think National Building Society is a good buy, fill in this simple form and the bank will get in touch with you.

Till Episode 2…

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  1. Sagitarr

    There was a large group of people at NBS Karigamombe Centre on Monday evening (13/3/2017). They did not appear to be happy homeowners at all but disgruntled account holders!!

    1. Tinashe Nyahasha

      Noticed the same thing and will touch on it as the series unfolds. Cash shortages and the subsequent long ques at most (if not all) banks is becoming a huge problem. I will directly ask the NBS leadership how they are particularly going to deal with this.

    2. Haibabo

      I even failed to get inside their banking hall. There were about 300 people queuing for their money outside the banking hall, and they looked miserable. Most of them appeared to be senior citizens.

    3. butstill

      well look at this way cabs has awful queues but actually gives mortgages (well a while bavk) on favourable terms in this have two banks one to get loans and another to actually withdraw money. loyalty and convience somehow mostly avid opportunity. go figure

      1. Haibabo

        Offering mortgages yes they may do. But we shouldn’t allow anyone to mislead the masses by claiming that they provide something fresh. The praising of this NBS bank was just over the board.

        1. butstill

          well looking aty hte flow of the bank and the rates i offes its slightly diffetent. nothing quite new in banking the wold over. just saying wh cares as lon asthey connected to zipit(which they are) have adquate funding(NSSA motherload) ofer a transfer to my tradiotnal account which allows for easy withdrawal. ill take the opportunity cz cabs tied down its lending the prpoerties with less stringent requirements are not the best investment. so yaahh take the opportunity get house remember 2008 some peopel got houses for like $50 just cz they took the risk. .

  2. Macd Chip

    NSSA which have funds being arm twisted to fund every Zanu Pf project they see fit, l do not think so!!

    With every new Labour minister, comes new rules and board for NSSA, l will keep myself far away from that NBS thing

  3. Chris Mberi

    You better bring hard facts to the table and not fanaticism. We all know our banking is not in its best position and there’s not much capital finance floating around so we’ve got to really see the mechanics around NBS’s proposition.

    1. Tinashe Nyahasha

      That is true. If you notice, this is an introduction to a series. It was difficult for me to overload details into one article. Yes our banking sector is not where it should be but most banks have mortgage products on sale and so far NBS has the best interest rates and the least hoops to access finance. Let me not get ahead of myself though…

  4. More free option

    Big question does NBS have enough trust for me to put money in them knowing full well that they follow the whims of governmentl and not sound economic policy… For example if they build a house who will do it….. The answer a resounding NO… Plus the cheapest is not necessarily the best….

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