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Loan For Professionals
To offer credit facilities to well established professionals in Tanzania to meet their professional / personal financial requirements.
Interest Rates & Charges
Terms & Conditions
- For construction of New Dwelling Unit.
- For acquisition of New Dwelling Unit.
- For financing purchase of old dwelling unit not more than 15 years provided the flat/house is structurally strong.
- For purchase of a plot on an undertaking by borrower that with the help of bank finance or otherwise, building will be constructed within two years from the date of purchase of plot.
- For repair/renovations/extension of the existing house.
- For repayment of the loan already availed from any other institutions.
- For purchase of Office Equipments, Computers, furniture and fittings, interior decoration, motor vehicles, etc. or for any other personal purpose.
- Individual / Group.
- Applicants should normally be citizens and residents of Tanzania, although applications from temporary residents will also be considered at the discretion of the Bank.
- Minimum -21- years and maximum -60- years for salary earner and -65- for other than salary earner including repayment period of loan
- Visit our nearest Branch for Documentation.
- Prime Lending Rate plus spread as per credit rating or as per agreed terms with borrowers and the interest is payable at monthly rests.
- Application for loan to be accompanied by a copy of latest Income Tax Return of the borrower for last 3 years and a copy of the license to practice from appropriate authority.
- The applicant should have a practicing experience of more than two years in Tanzania while applying for a loan.
- Interest at lower level may be considered for advances secured by way of surrender value of life policy / value of mortgages available/security by way of Government securities. Authority for lower interest will be vested with the Managing Director.
- A penal interest of 2% over the stipulated rate of interest will be levied for any overdue on account of non-payment of interest / installment on due dates.
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