Chama Account and Loan
Chama is an account that seeks to provide investment groups, formal and informal ‘saccos’ with an opportunity to make monthly savings while earning a high rate of return on their savings and also access loans of up to 3 times the group’s savings
• Interest rate of up to 3% p.a on the savings (paid after every 6 months)
• Minimum lending of TZS 1ml and Maximum of TZS 100ml.
• Loans are limited to activities that seek to create wealth
• Loan repayment period of 48 months
• Security to be provided including Directors Guarantees for amounts higher than TZS 15ml.
• No ledger fee