Stanbic IBTC Pension Mortgage Helps Nigerians Use 25% of RSA to Buy a Home
Turn up to 25% of your RSA into a deposit to buy a home with Stanbic IBTC’s pension mortgage, offering affordable rates and flexible up-to-20-year repayment across Nigeria
How the Stanbic IBTC pension mortgage works for Nigerians
The Stanbic IBTC pension mortgage lets pension contributors use part of their RSA as equity to buy a home in Nigeria. With this specialised mortgage you can tap up to 25% of your Retirement Savings Account (RSA) to fund your deposit and move into a property while repaying the loan.
This pension mortgage targets working Nigerians across the 36 states and the FCT, offering verified property listings and a process aligned with PENCOM rules. It’s designed to ease the path to homeownership by linking retirement savings to affordable housing finance.
Eligibility and straightforward documentation
To qualify you need an RSA with at least 60 months of contributions and an endorsed RSA statement from your fund. Both salaried and self-employed applicants can apply, and couples may apply jointly to combine pension funds for a stronger application.
Required documents vary by employment type but typically include a completed application, proof of equity contribution, property title documents, ID, pay slips or audited accounts, and employer introduction where applicable. Stanbic IBTC guides applicants through the checklist to speed approval.
Rates, fees and repayment flexibility
The Stanbic IBTC pension mortgage charges competitive market rates—around 19% per annum—with a 1% one-off management fee and standard due diligence costs for valuation and title checks. These fees ensure the property is verified and your investment is protected.
Repayment tenor is flexible, extending up to 20 years to keep monthly instalments manageable in Naira. Using RSA funds as equity reduces upfront cash outlay, helping many Nigerians avoid large lump-sum deposits while still securing better loan terms.
Benefits, risks and next steps
Major benefits include immediate possession, tailored support through the purchase process, and an option to use pension savings productively toward homeownership. Stanbic IBTC’s dedicated mortgage team provides local guidance so the process feels familiar and straightforward for Nigerians.
Potential borrowers should weigh long-term implications of drawing from their RSA and confirm PENCOM compliance. For the next step, prepare your documents, get an endorsed RSA statement, and talk to a Stanbic IBTC mortgage officer at a branch or via the bank’s website to start your application and get personalised quotes.