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Botswana - Apply for Bonno Loan (Individual)

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ProcedureEdit

Apply In-Person

  1. The National Development Bank has introduced various financial assistance interventions like the Bonno Home Loan for individuals, which cater to all home financing needs i.e. building a home, buying a house or plot, or home improvement. NDB contact details
  2. Interested applicants who wish to obtain Bonno Loan as individuals should visit the nearest NDB branch office and express their interest in assessing the loan to the customer service desks.
  3. Collect and complete the Bonno Loan Application Form (Individual) or download it via the NDB website Forms or directly download it using this link; Bonno Loan Application Form – Individual.
  4. Submit the certified copies of the supporting documents as mentioned under the “Required Documents” section of this page, in addition to the duly completed application form in all respect to the nearest NDB branch office. Any omission of these documents will render the application process incomplete.
  5. Upon receipt of the application file, the NDB receptionist/secretary at the front desk will verify if all the necessary information and documentation has been provided and that the applications comply with the selection criteria before registering the application file for assessment and consideration by the NDB unit responsible.
  6. The application will be processed as per the information and documentation provided, that is why applicants are advised to provide sufficient information to enable the NBD to evaluate the request and make its decision.
  7. Notice of the decision (Approval, Deferral, or Rejection) for the Loan will be communicated to the client in writing /phone/email.
  8. If the funding is approved, the applicant will be required to visit the NDB office, where the application was lodged, and produce a proof of identity document to be validated by the authorized official. The borrower shall be made to sign a contract with NDB
  9. The Access of the loan by the applicant once approved, is normally subjected to pre-disbursement conditions as the NDB deems fit, once all these conditions have been fulfilled, the loan can start disbursing in accordance with the implementation schedule agreed with the applicant (borrower).


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Required DocumentsEdit

  • Two (2) certified copies of National Identity Cards (Omang), for all Batswana applicants, all Shareholders, and Directors.
  • Two (2) certified true copies of passports (for non-citizens).
  • A copy of a residence permit and work permit (Non-Citizens).
  • A copy of passport (Non-Citizens).
  • A copy of the land title (title deed, registered lease, etc.)
  • Valuation Report of the property to be financed by any of NDB’s preferred valuators.
  • Applicant’s Bank statements for the latest 3 consecutive months
  • Approved plans for property construction/development.
  • A Copy of the Contractor and the Borrower’s agreement.
  • Relevant quotations/ sales agreements.
  • Bills of quantities for construction of properties in excess of P500, 000.00.
  • Latest Salary advice slip for both applicant and spouse.
  • BURS Tax Number.
  • Employment Confirmation Letter/ Copy of Employment Contract For Construction Loans above P500, 000.00 the contractor to attach registration documents with PPADB.
  • Every construction project above P500, 000 to have a soil analysis report.
  • Structural Engineer’s report is required for all double story buildings to be constructed as well as where the soil analysis demands that it be done.
  • A certified copy of the Marriage Certificate. If married out of community of Property please provide Instrument from Deeds Office.
  • Proof of Physical Address, eg Utility Bill.
  • Spouse’s letter of consent.


Office Locations & ContactsEdit

NATIONAL DEVELOPMENT BANK (NDB)
GABORONE OFFICE
Client Relations Director
Regional Managers
Relationship Managers
Sales Executives
Address: Development House Queens Road, Main Mall
P O Box 225,
Gaborone Tel: (+267) 395 2801
Fax: (+267) 397 4446

FRANCISTOWN OFFICE
Regional Manager
Relationship Manager
Sales Executives
Address: Tswelelopele House
P O Box 282, Francistown
Tel: (+267) 241 6044
Fax: (+267) 241 6065

MAUN OFFICE
Regional Manager
Relationship Manager
Sales Executives
Address: NDB Office, Mall
P O Box 453, Maun
Tel: (+267) 686 0316
Fax: (+267) 686 0645

PALAPYE OFFICE
Relationship Manager
Sales Executives
Address: NDB Office, Palapye Development Trust Mall
P O Box 10387, Palapye
Tel: (+267) 492 0552
Fax: (+267) 492 0551
NDB contact details
NDB Website

EligibilityEdit

  • All Botswana citizens and permanent residents.
  • Those with the retirement age of 70 may also apply.
  • Applicants should have an existing active bank account with the NDB.
  • Only plots with title deeds, leasehold, or freehold can be financed.
  • Bonno Home Loan is available for property located in both urban and rural areas across the country.


FeesEdit

No fee associate with the service.

ValidityEdit

  • For a home improvement loan, the repayment is for a maximum of 5 years and the loan must be settled before the age of 65 for individuals.
  • For a construction loan, the repayment is for a maximum of 25 years. The loan must be settled before the age of 65 years for individuals.
  • For the Plot Purchase, the repayment is for a maximum of 7 years and the loan must be settled before the age of 65.NB* Loan Repayment should be aligned to the development period as per the offer of the sale.


Documents to UseEdit

Bonno Loan Application Form – Individual.

Sample DocumentsEdit

Please attach sample completed documents that would help other people.


Processing TimeEdit

Please explain processing time taken in obtaining the document/certificate.


Related VideosEdit

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.


InstructionsEdit

Please provide other instructions related to the certificate/documents.
e.g. The state office holds birth records since january 1908.


Required InformationEdit

  • Background information of the applicant (individual)
  • Applicant employment status
  • Details of the Spouse employment status/spouse’s other income
  • Existing and previous loans with NDB and other institutions
  • Details of the Property to be financed
  • Transaction details
  • Bank details (applicant/spouse)
  • Spouse consent
  • Monthly personal budget details
  • Loan Security details
  • Personal balance sheet
  • Assets/Liability details
  • Declaration by the applicant


Need for the DocumentEdit

  • Bonno Home Loan caters to all your home financing needs, be it building a home, buying a house or plot, or home improvement.
  • Bonno Home Loan is affordable. It offers 100% finance cover including transfer duties, fees, and VAT interest rates. It gives you the convenience of acquiring your own home.


Information which might helpEdit

Enter other informations which might help.


Other uses of the Document/CertificateEdit

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.


External LinksEdit


OthersEdit

More information which might help people.


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