Mortgage
These are loans offered to employed and self-employed people for the purchase ,renovations and finishing of the residential properties.
Features for Employees
· Maximum loan amount is Tzs 300,000,000.00
· Affordable interest rate of 8.75% flat per year.
· Maximum tenure is 120months for properties with sales agreement and 240 months for properties with certificate of title.
· All loans are secured by landed properties, loans below Tzs 75.00Million can be secured by properties with sales agreement while loans exceeding Tzs 75.00Million are secured by legal mortgage.
· Loans are granted to confirmed employees.
· Attachment includes Identification IDs, Six months account statement and Introduction letter from the employment.
· Loans are insured against death and permanent disability.
Features for Self-employed/ business customers
· Maximum loan is Tzs 200,000,000.00
· Affordable interest of 9.5% flat per years.
· Maximum loan duration of 60 Months
· Attachment include: Business license, TIN number, One year account statement
· Loans are insured against death and permanent disability.
