This Products operating on Markets areas.
| Loan Amount | Minimum amount TZS 100,000, Maximum amount TZS 1,000,000 From TZS 100,000 to TZS 500,000, home chattels will be used as collateral." Above TZS 500,000 to TZS 1,000,000, vehicles, Bajaji, Boda Boda, sales agreement, certificate of occupancy, will be used as collateral. Customers requesting loan amounts above TZS 1,000,000 will be moved from the Sokoni Loan to the SME Loan product. |
|---|---|
| Interest Rate | 10% Per Month (Flat rate) |
| Tenure |
Loan terms 1 to 6 months: Amounts below TZS 500,000 will have a maximum term of 3 months. Amounts above TZS 500,000 and up to TZS 1,000,000 will have a maximum term of 6 months. |
| Due Date | Daily / Weekly |
| Grace Period | No |
| Penalty | Other fees will be applicable based on the Collateral Pledged. A penalty fee of 2% per day will be charged on any outstanding arrears for late payments. |
| Insurance Fee | Insurance fee – 1% (Deducted from loan disbursed) |
We intends to reach poor families in Tanzania with microloans. We strives to ensure that, the granting of credit accommodation is always based on sound and professional credit assessment of customers. We bridge the gap in the provision of financial services where customer satisfaction, efficiency and innovation reign.
