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This is a short term facility that offers financing of school fees for children whose parents operate bank accounts at BANK OF AFRICA - TANZANIA.

Features

Minimum loan amount   -TZS 1 million or USD equivalent

Maximum loan amount  -TZS 10 million or USD equivalent

Maximum repayment period- 10 months

Term, and conditions    

Total loan repayment should not exceed1/3 of their net salary. the interest rate is on  reducing balance basis. the bank  can revise  the interest rates depending on the market condition without prior notice to the  customers.

Open a bank account at BANK OF AFRICA - TANZANIA  employer's undertaking to channel salary through employee bank account at BANK OF AFRICA - TANZANIA.

Benefits

Fastest and most easily available of all retail loan products

Lower required borrowing amounts.

Available of a range of  products that offer financing for personal needs.

 

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