Nigeria Police Mortgage Bank

Nigeria Police Mortgage Bank is a Primary Mortgage Institution approved by the Central Bank of Nigeria to operate as a Primary Mortgage Institution with full legal rights of a State Primary Mortgage Bank in Nigeria. It provides tailored mortgage and financial services designed to meet the needs of officers and their families across Nigeria. The bank's head office is located at Plot 11, Portsaid Street, Wuse Zone 4, Abuja.

The history of Nigeria Police Mortgage Bank Plc is evidenced by significant milestones. The National Housing Fund Act was enacted in 1992. Fokas Savings and Loans Limited (Mortgage Bankers) was incorporated in November 1992 and licensed to operate as a mortgage bank in January 1993. The Nigeria Police Force, through its organ Nigeria Police Cooperative Multi-Purpose Society Limited, acquired majority shares in Fokas Savings and Loans Limited in April 2012.

• National Housing Fund (NHF) loans

  Maximum loan amount is N50 Million. Interest rate currently at 6% per annum. Tenor is subject to age or length of service (within 60 years age limit). Monthly repayment shall not exceed one-third of beneficiary's gross monthly emolument.

• Renovation Loan

  For customers who need funds to carry out minor renovation, repair or uplift their residential properties. Tenor: maximum of three years. Maximum loan amount: N3 million. Loan repayment up to 33.3% of net salary.

• Salary Advance

  Enables individual salary earners to have access to as much as 40-60% of their monthly income in advance, subject to a maximum limit based on salary earned. Payable on the next pay day. Low interest rate of 10% flat.

• Savings/Target Account

  Aimed at encouraging voluntary savings. Interest is paid on the account balance on monthly basis. Issuance of Debit Card for ATM & POS Transactions.

• Current Account

  Aimed at those who intend to do cheque transactions and also key into any of our loan products. Availability of Cheque books and Debit cards.

1. Nigeria Police Mortgage Bank – Primary Mortgage Institution for the Nigeria Police
2. Background History – Nigeria Police Mortgage Bank
3. Products – Nigeria Police Mortgage Bank
4. Other Products – Nigeria Police Mortgage Bank
5. Nigeria Police Mortgage Bank