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 100/  USD 20

  Maximum loan size

TJS 80,000/ USD 16,000

  Minimum loan term

1 month

  Maximum loan term

36 months for USD loans

48 months for TJS loans

  Guarantor

Guarantor may be required based on the loan amount 

  Collateral

Only required for loans above USD 1,000 or TJS 5,000

  Grace period

  (only principal amount)

1 month

  Currency

The product is offered in both 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

How to Apply

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

Clients should bring with them the following documents:

 Copy of a valid passport

 Tax Identification Number (TIN)

 Two recent passport size color photos

 Loan utilization/investment plan

 Income certification document/copy of employment agreement 

 List of items being pledged as collateral  

 Copy of a valid passport of the guarantor

 Tax Identification Number of guarantor

Benefits

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

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

 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

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