STAFF HOUSING LOAN SCHEME
is a scheme organized and managed by the Convention to help members of
the Convention family, build their personal houses by means of loan
facility from the Scheme, repayable in installments over a period of
time with affordable interest rates.
Membership: membership lf the scheme is open to:
· Pastors in the local Churches of the Convention
- Staff of Theological InstitutionsWorkers in the Baptist Building
- Staff of Convention subsidiaries such as
- Baptist Press
- Baptist Bookstore
- Women Missionary Union
Eligibility for Loan
· Applicant must be an employee of the Nigerian Baptist Convention
- He / She must be a member of the NBC Retirement Benefit Scheme (Pension Scheme)
- He / She must be a faithful contributor to the Scheme
- He / She must have contributed not less than 15% of the loan desired.
- He / She must have contributed for a period of not less than two years before applying for loan.
- He / She must have a legally valid title to the land on which the building is to be erected
- He / She must have an approved building.
The maximum loan obtainable is 500,000 payable monthly within five years
The loan interest rate is 4% per annum on reducing balance basis, while 2% per annum interest shall be given to contributors