How to Take a Mortgage From NIC Bank

NIC Bank gives you an opportunity to take a mortgage at the reasonable interest rate. The golden opportunity can make you an instant homeowner, especially in Nairobi.

Choosing the right mortgage plan is a top priority when beginning the journey to home ownership. The option you choose should fit your unique needs and preferences. NIC has a dedicated team of Mortgage specialists to walk with you through the journey towards securing your dream home.

NIC Mortgage offers you a variety of options:

  • Equity Release – Financing against your already existing house
  • Purchase Financing – Loan that funds to buy a ready-made house
  • Top-Up – Increase in value of your existing mortgage due to reduction of loan amount or appreciation of property value
  • Balance Transfer/Refinance -Transfer of an existing mortgage from one financier to another
  • Construction Finance – Loan that funds the building of a residential  home or residence
  • Plot Purchase – Financing to buy vacant land

Related: How To Find The Cheapest Mortgage Rate in Kenya


  • Up to 90% financing for Kenyan residents and 70% financing for Kenyans in the diaspora
  • Mortgage Protection Insurance (MPI) cover that takes care of retrenchment, death, and disability, and social perils cover included
  • Competitive Interest rates
  • Flexible repayment periods of up to 20 years
  • No penalty for early repayment
  • Available to both Kenyan citizens and non-Kenyan permanent residents
  • We arrange for valuation and legal processes by bank-appointed service providers
  • Joint applications allowed
  • The minimum amount of KES is 1 million. The maximum amount is based on your ability to repay.
  • Interest is charged on a reducing balance basis


  • A completed and signed Mortgage application form
  • Your Original ID/Passport (plus copies)
  • 6 months certified bank statement
  • 3 months pay slips
  • Sale agreement or letter of offer( for purchase mortgage only)
  • Letter of introduction from employer


The cost associated with Mortgage

  • Arrangement fee
  • Legal Fee
  • Valuation fee
  • Stamp duty on Transfer
  • Stamp duty on Charge
  • Insurance

To take a mortgage, visit NIC Head Office and request assistance. alternatively, you can contact them through

NIC House
Masaba Rd. Upperhill.
P.O.Box 44599-00100,
Nairobi Kenya
Tel: +254 (20) 2888217
Fax: +254 (20) 2888505
Mobile:  +254 (711)041 111/ +254 (732)141 111

There is How to Take a Mortgage From NIC Bank.

VAAL Real Estate was Founded with the aim of reducing the hassle of finding and buying homes. VAAL Real Estate has been successful in developing a brand whose main aim is to change the market by understanding and satisfying the needs of potential and future homeowners.