Boresha Makazi Loan

This loan product is a type of mortgage whereby financing is advanced to borrowers to enable them complete or improve a residential building on a property.  The principal amount of such loan is paid directly to the suppliers of the materials to be used to improve or complete the house. This loan facility will be given to individual or joint partners or to family members who have decided to improve or complete the house in Dar es salaam alone

 Product Attributes

  • 100% financing of home completion or Improvement as per applicant estimates and KFL standards
  • Minimum loan amount 4,000,000
  • Maximum loan amounts up to 20,000,000
  • Maximum repayment period up to 6 Months
  • Interest rate of 5% Monthly
  • Borrowers must possess a title for the land on which the property is to be developed/residential license, or Car registration card for properties with sales agreement

 

Target Market

  • Salaried individuals in Public and Private Sector