RESORT SAVINGS MORTGAGE ACT

For those who want to save towards owning their own home with Life Assurance plan thrown in as a bonus. With an attractive interest rate, a flexible repayment plan and coming in 5 variants, you can’t go wrong with this package.

1. RIMPLAN is a product well packaged, thought about & put together to encourage Savings towards home ownership and facilities timely and favorably priced mortgage delivery to the subscriber. The Uniqueness of RIMPLAN lies in the available variants that are meant to proffer opportunities that would meet different individual needs.

Features and Benefits common to all of them include:

• Equity contribution required is only 10% except where stated otherwise
• Maximum tenor is 15years
• Maximum loan amount is N15 million
• Lending rate is 18% per annum except where stated otherwise
• Personal Accident insurance of up to 2 million naira

RIMPLAN Regular

• Minimum Saving tenor of 12 months
• Minimum monthly Contribution of N50,000

RIMPLAN PLUS

• Minimum Saving Tenor of 6 months
• Minimum monthly Contribution of N200,000

RIMPLAN Endowment

• Minimum Saving Tenor of 24 months
• Minimum monthly Contribution of N10,000

RIMPLAN Corporate

• Minimum Saving Tenor of 12 months
• Minimum monthly Contribution of N50,000

2. Resort Land Acquisition Account

R-LAND is the optimal account for those who want to acquire their own piece of land. What’s more, the said land can be used as collateral for the Loan!

HOW IT OPERATES:

1. Open a R-LAND account with an initial deposit of N1million.
2. Save 30% of the cost of land (Including fencing) within 3 months of banking relationship with Resort.
3. Resort adds 70% (up to N5million), as loan.

BENEFITS

• Loan of N5million obtainable.
• Payback period is 36 months (3 years).
• Interest rate is very affordable.
• The Land in question can be used as collateral for the loan.

3. RESORT HOME REVOVATION LOAN

A product specially designed for existing structures that require a new face lift.

FEATURES

• Maximum loan amount of N2 Million Naira Only.
• It requires 6 months banking relationship.
• 2 years loan tenor.
• Very attractive interest rate.

4. The National Housing Fund (NHF) Scheme

A long term mortgage facility that is targeted towards low and medium individual income earners; private sector employees, public servants, self employed, business men and trades men.

FEATURES

• Maximum Loan sealing is 15Million.
• Repayment period is 30 years.
• NHF Loan attracts 6% interest rate p.a.
• The property is the sole collateral.

BENEFITS

• Repayment is not more than one third (1/3) of salary
• Your contribution does not determine the loan amount
• It is the most convenient opportunity to own a home without stress

5. RESORT EARLY HOME OWNERS ACCOUNT

An account designed for young beginners of labour, who are interested in ceasing off the accommodation stress.

FEATURES

• 25- 40 years age bracket.
• 6 months banking relationship.
• Minimum balance of N50, 000.
• Loan Tenor of 10 years.
• Affordable interest rate.
• Maximum Loan amount of N6million.
• Equity contribution of 30%.
• 3% P.A interest on savings deposit.
• Withdrawals only allowed once a year.