The product is designed to enable customer to afford to improve his/her house to a good standard. The house improvement funding covers several activities, house renovation, surrounding improvement, house redesigning, etc.
The product targets owners of residential houses which are for personal or commercial use. It doesn’t cover Major Commercial buildings.
Features for House Loan
- Loan Amount, Minimum of Tzs. 10,000,000/= to Maximum of Tzs. 30,000,000/= 1st cycle Loan.
- Loan Duration ranges from 3 months to 6 months (for first time borrower)
- The loan is extended to only residential houses
- Collaterals accepted, Motor vehicle and Landed property (Plot should have CT).
- Loan payment commences thirty (30) days after loan disbursement
- Submission of renovation breakdown is mandatory