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Service Loan (SL)

Interest Rate: Company's Standard Rate/Negotiable

Loans for payment for various services including school fees, college and university fees, customs duties, etc.

Requirements

To qualify, the applicant must:
  1. Be a civil servant or an employee, shareholder, director or proprietor of an organization with which the Company has prior arrangement or be a consignee of goods for which customs duties have to paid.
  2. Furnish a certified copy of a valid ID (driving license, national ID, voter's ID)
  3. Furnish a certified copy of TIN.
  4. Furnish one recent colour passport sized photograph
  5. Furnish a copy of the quotation from the relevant institution.
  6. Furnish a certified copy of the certificate of incorporation/registration (for business owners only)
  7. Furnish certified copies of latest 3 months pay slips (for salaried employees only)
  8. Furnish certified copy of the employment contract (for salaried employees only) and
  9. Sign the requisite loan agreement.

Terms

  1. Repayment period ranges from 1 to 18 months (maximum)
  2. There are no penalties where the borrower opts to discharge financial liability before the end of the contract term.

Amounts

Minimum loan amount: TZS. 100,000.00
Maximum loan amount: TZS. 5,000,000.00

Access to Facility

The customer will be able to access the facility within 24 hours upon receiving a notice of approval which may be sent either physically or electronically.