This facility is available to commercial farmers for the construction of labourers houses of an acceptable standard at 4% interest rate.
The maximum qualifying amount per unit is N$75,000.00, but can increase in exceptional cases; the unit must be a permanent structure with a minimum of two rooms with bathing and ablution facilities.
- Applicants must have a clean credit record.
- Applicants can either be full or part time farmers.
- Applicants should be Namibian citizens.
- Applicants must provide a building plan.
- Agribank offers flexible installment options to suit client’s financial needs. The available installment options are: monthly, quarterly, biannual or annual.
- Loans are granted against security of fixed property, investment or any other acceptable form of security (fixed deposits, investments and surrendering value of policies).
- Applicants must provide an approved building plan and quotations.
- Companies or co-operatives should provide audited financial statements, certificate of registration, association agreement, shareholders or directors of the company and must have a registered Auditing Firm.