Steward Bank Diaspora Mortgages are an innovative product designed to help Zimbabweans living abroad access financing for their home purchases in Zimbabwe. The product, which was launched in December 2020, aims to assist Zimbabweans living abroad to acquire residential properties back home.
The product was created by Steward Bank, a Zimbabwean-owned financial services provider and is the first of its kind in the country. The product is available to Zimbabweans living in the diaspora, including those in the United Kingdom, United States of America, Canada, Australia, Ireland and other countries.
The product is tailored to meet the needs of Zimbabwean nationals living abroad with flexible repayment options and competitive interest rates. It allows Zimbabweans living abroad to purchase residential property in Zimbabwe without having to travel back to the country in order to do so.
The product comes with competitive interest rates, a loan tenure of up to 25 years and repayment options that are tailored to the individual. It also provides the opportunity for customers to access properties that are outside of their residential area.
The product is designed to make the process of buying a home in Zimbabwe easier for those living in the diaspora. It allows them to access financing for their home purchases without having to worry about the exchange rate, currency conversion fees, or other financial issues associated with purchasing property in Zimbabwe from abroad.
The product also offers features such as early repayment options, loan insurance, and access to the bank’s mobile banking platform, which allows customers to manage their accounts and make payments on the go.
Overall, Steward Bank Diaspora Mortgages are a great product for Zimbabweans living abroad who are looking to purchase residential property in Zimbabwe. The product offers competitive interest rates, flexible repayment options, and access to properties outside of the customer’s residential area, making it an attractive option for those looking to purchase a home in Zimbabwe.