Motor vehicle can only be used as security for loans of up TZs. 2 millions
The vehicle must have a comprehensive insurance cover
The vehicle registration card must be under your name
If you require large loans, consider to use plot or houses as collateral
FREQUENTLY ASKED QUESTIONS
It depends on the type of the loan
For salarised loan the upper limit is 10 million Tanzanian shillings
For individual loans the upper limit is 5 million Tanzanian shillings
For loans granted to employees of private firms the upper limit is 5 million Tanzanian shillings
For group solidarity loans the upper limit is five hundred thousand for first cirle and nine hundred thousand for subsequent circles
Yes, provided your employer agrees to remit the monthly installment to our account
As soon as you have submitted all the necessary documentations, you will wait for 5 to 10 days before you are granted money.
However if you an employee of government you will wait for only for two days