This loan is for outright home purchase or equity release on existing residential property.

Loan Tenure:

  • Outright Purchase: Maximum of 10 years. Minimum of 5 years
  • Equity Release: Maximum of 10 years. Minimum 5 years

Early liquidation of principal (total or partial) before maturity date will attract a pre-liquidation charge as follows:


% of Prepaid amount





Above 5


 Loan amount:

  • Maximum Loan Amount: N50 million
  • Minimum Loan Amount: N5 million
  • LTV Outright Purchase: Maximum of 70% of purchase Price subject to maximum of FSV
  • Equity Release: Maximum of 70% of FSV
  • The minimum equity contribution by the borrower is 30% of the cost of property

Pricing & Repayment:

  • Pricing: Highly Competitive 
  • Repayment Source: Salary and other allowances domiciled with FCMB
  • Repayment Type: Equal Monthly Instalments (EMI) Equal Quarterly Instalments (EQI) 
  • Maximum Debt Burden Ratio (DBR) of 33.3% of monthly income

Note: Repayment shall be on equal monthly & quarterly basis through deductions from borrower’s specific salary account. The monthly & quarterly payments cover interest and principal