Consumption

Purpose

Consumption loans can be used to fulfil a variety of general consumption needs that will allow customers to improve their quality of life. These include payment for household items, education, medical treatment, social events (eg. marriage), tourism, etc.

Quick Facts

  Minimum loan size

TJS 900 / USD 100

  Maximum loan size

TJS 135,000 / USD 15,000

  Maximum loan size for rural areas

TJS 60,000 / No USD lending in rural areas

  Minimum loan term

1 month

  Maximum loan term

48 months Ц TJS loans

36 months Ц USD loans

  Guarantor

Guarantor is required for loans above TJS 9k. The full financial analysis of the guarantor is required

  Collateral

Collateral is required for loans above TJS 9k.

  Grace period

  (only principal amount)

1 month

  Currency

TJS and USD

  Interest rates in TJS

28% - 35% Interest rates are stated annually        

  Interest rates in USD

18% -25%    Interest rates are stated annually        

  Early closure

Allowed with the condition to formally report but no penalties as per the NBT requirements.

How to Apply

Interested clients should consult with the nearest branch or banking service centre.

Clients should bring with them the following documents:

Х Copy of a valid passport

Х Tax Identification Number (TIN)

Х Two recent passport size color photos

Х Loan utilization/investment plan

Х Income certification document/copy of employment agreement 

Х List of items being pledged as collateral  

Х Copy of a valid passport of the guarantor

Х Tax Identification Number of guarantor

Benefits

Х Flexible product terms that allow entrepreneurs to tailor a solution to best meet their financial capital needs

Х Attractive interest rates with the potential for further discount if the customer opens an FMFB deposit account and services their loan through it

Х Large loan size and long loan maturity term allows customers to make large purchases now while spreading out payment for those purchases over an extended period of time

Х Transparent and collaborative loan application process that is rooted in integrity and customer protection principles