BancABC muscles into mortgage loan arena

With most of the country's eight commercial banks already competing with the country's statutory banks for room in the mortgage loan arena, BancABC hopes its competitive edge will secure a niche in the market.Managing Director Jito Kurian said the bank's home loan was offered at zero deposit, meaning BancABC will provide 100 percent finance for new homebuyers. The competitive edge is unique in that most mortgage loans involve the debtor paying a deposit, usually 10 percent, for the issuance of credit.

"While the bank offers 100 percent finance for new home buyers, customers (elsewhere) are often required to make a downpayment of 10 percent, which is almost impossible to have during these tough financial times," he said."We believe this is a hassle-free mortgage that allows just about everyone to own a piece of Botswana. This is what empowerment is all about. We are mindful of our nation's ideals of creating a better Botswana by 2016. This is our small contribution towards capacitating our clients towards moving nearer to our vision as a nation."