NHF Calculator
Updated November 2026 · Free · No sign-up
Calculate your NHF contribution — 2.5% of monthly basic salary into the National Housing Fund, the FMBN mortgage access it buys (up to ₦50M at 6%), and the age-60 refund.
Quick answer: NHF = 2.5% of monthly basic salary, remitted by employers to the FMBN. The payoff: eligibility for FMBN mortgages up to ₦50M at ~6% interest (vs 20%+ commercial) after 6 months of contributions, plus a refund with interest at 60/retirement.
How the NHF Works
The NHF Act requires employees earning ₦3,000+/year (i.e., everyone formal) to contribute 2.5% of basic; employers deduct and remit monthly. The 2025-26 reform discussions around making it voluntary for private employees — verify current status — haven’t changed the core mechanics for contributors.
What You Get
| FMBN mortgage | Up to ₦50M, ~6% interest, up to 30 years — after 6+ months of contributions (10% equity for ₦15M+, less below) |
| Home renovation loans | Smaller facilities (₦1-2M range) through the FMBN |
| Rent-to-own | FMBN estate programs for contributors |
| Refund at 60 | Your contributions + 2% interest back at 60/retirement if never borrowed |
Worked Example
₦300,000 basic: ₦7,500/month → ₦900,000 over 10 years (+2% interest if refunded). Against access to a ₦30M mortgage at 6% instead of 22% commercial — saving ₦3-4M+ of interest per ₦10M borrowed — the contribution is cheap option money for anyone who’ll ever buy.
Practical Notes
Get your NHF number and check remittances (employer deduction without remittance blocks your mortgage eligibility exactly when you need it); the refund process at 60 needs the contribution history — keep payslips. Self-employed can contribute voluntarily for the same access. The deduction is pre-tax for PAYE.
Frequently Asked Questions
How much is the NHF deduction?
2.5% of monthly basic salary — ₦7,500 on a ₦300,000 basic — deducted by the employer and remitted to the FMBN.
What does NHF give me?
FMBN mortgage access up to ₦50M at ~6% (vs 20%+ commercial) after 6 months of contributions, renovation loans, and a refund with 2% interest at 60 if unused.
Is NHF refundable?
Yes — contributions plus 2% interest at age 60/retirement for non-borrowers; the claim needs your contribution records.
Is NHF compulsory?
Historically yes for formal employees (reform debates about voluntariness continue — verify current status); self-employed may join voluntarily.
My employer deducts but FMBN has no record — what now?
Demand remittance evidence and escalate to FMBN — unremitted deductions block mortgage eligibility and are recoverable.
✓ Formula verified • Last updated: November 3, 2026