Stanbic IBTC Pension Mortgage Lets RSA Holders Use 25% to Buy a Home in Nigeria

Why Stanbic IBTC pension mortgage makes homeownership possible

Stanbic IBTC pension mortgage lets RSA holders unlock up to 25% of their Retirement Savings Account as equity for a home loan, creating a practical route to homeownership in Nigeria. This pension mortgage targets contributors who want to convert saved funds into a deposit without draining personal cash or taking expensive informal credit.

Using 25% of your pension balance as part of the down payment reduces upfront cash needs and improves approval chances for long-term mortgages across the 36 states and the FCT. For anyone hunting property in Lagos, Abuja or beyond, the Stanbic IBTC mortgage product positions pension savings as a strategic equity tool.

Eligibility and straightforward application steps

To qualify you must have an RSA with at least 60 months of contributions and provide an endorsed RSA statement in line with PENCOM rules. Stanbic IBTC accepts joint applications where each partner meets requirements, making it easier for couples to combine pension resources for a larger home loan.

The documentation list is clear: completed application, offer of sale, title documents, evidence of equity and identity records, plus employer letters or business financials for self-employed applicants. Streamlined checks and support from Stanbic IBTC mortgage officers mean the application process is practical and familiar to Nigerians used to bank procedures.

Costs, interest and what to budget for

Be aware of the financial terms: the advertised interest rate for this pension mortgage is competitive in the market, with an indicative rate around 19% per annum and a one-off management fee. Additional due diligence checks cover valuation, title verification and property search – these one-time costs give you security and reduce future title risks.

Using 25% of your RSA as equity lowers the loan-to-value ratio and can improve monthly repayment affordability over the tenor, which may stretch up to 20 years. Compare monthly instalments in Naira and factor in the bank’s fees so you can plan cashflow and preserve other savings.

Repayment flexibility and next steps for RSA holders

Stanbic IBTC mortgage offers flexible repayment terms designed for salaried and self-employed Nigerians, so you can align monthly payments with your income cycle. The bank also provides verified property listings nationwide, helpful for RSA holders who want quick possession while starting repayment.

Ready to move forward? Request a mortgage consultation at a local Stanbic IBTC branch or via their online portal, prepare your RSA statement and required documents, and speak to a mortgage officer about tailored repayment plans. With the Stanbic IBTC pension mortgage, pension contributors across Nigeria have a structured, transparent path to homeownership.