Wastaafu Loans
Wastaafu Loans Scheme aims at issuing loans to retirees whose Pension funds have executed Memorandum of Understanding/ guarantee agreement with the Bank.
Pensioners who are getting their pension from PSSSF, ZSSF NSSF and Treasury based retirees and who will be willing their pension/loan installment payments deducted/routed through their saving accounts with our bank. Other pensioners drawing pension through our bank and considered being eligible includes Ex-TP&TC pensioners, Ex East African Community pensioners
Product Features
· The eligible loan amount ranges 29 times monthly pension.
· Payment period is up to 8 years, equivalent to 96 months.
· Affordable interest rate of 16% reducing per annum.
· Pensioner’s loan is collateral free loan.
· Loans are insured against death.
· Top up loans are allowable.
· We do not have age limit in lending at this product.
· Mentorship programme and provide financial advice to both expected retirees and retirees themselves across ranges of our branch networks.
Toll free call: Call number 080 011 0160 for enquires and assistance.
