Ajira Mali Loan

This is a quick personal financing solution designed to support short term needs such as school fees, house rent, investment opportunities, or pay for pressing bills such as Medical or penalties. The target market for this product is employees in the formal organizations.

TARGET CUSTOMERS:
Employees with long term contracts who can be sponsored by their organization or by any other referee who will adhere to our terms and conditions of sponsorship

LOAN AMOUNT:
From TSH 1,000,000 to TSH 2,000,000 depending on the net salary of the applicant. Net salary must be TSH 600,000 and above.

PURPOSE OF THE LOAN:

This loan product is designed to help employees with different cash needs either in small investments (like buying assets) or settling of their bills (house rents, school fees etc)

DURATION OF THE LOAN:
Six to twelve month period.

ACCEPTED COLLATERAL

    1. Motor vehicle (registered in Tanzania for not more than 5 years, with comprehensive insurance.
    2. Share certificates from different companies which can be mortgaged on stock exchange market
    3. Furniture which has 200% value of the loan requested

REQUIREMENTS

  • Application form filled in thoroughly
  • Work ID
  • Introduction letter from the employer
  • Introduction letter from local government
  • 1 passport photo
  • Employment contract.
  • Referee preferably your boss in your place of work. He/she must fill in the referee form and attach the same with your application form
  • Salary slips of the past three (3) months
  • Bank statement of your salary account of the past six (6) months
  • Pictures of the collateral
  • Post dated cheques

Loan will be released within 48 hours after submission of a thorough application with all the requirements as stated above.