Quick links

Mortgage Loan


This is primarily a long term facility designed to enable one acquire structured loans that will help one own, improve, complete or release equity investments on his/her new/existing home via:

      a. Home Purchase Loan

  • Designed to assist a customer purchase residential properties for his/her own use, for rental purposes, for his/her employees or for other purposes.
  • The loan shall not exceed 90% loan to value (LTV) ratio.
  • The maximum term for this facility is 15 years for both TZS and FCY applications or your residual working; life whichever is less.
  • Joint applications between spouses, parent/child, as well as siblings are also encouraged.

      b.Home Equity Loan

  • If one has already invested in residential properties, this loan will enable him/her release his/her investments in those properties to improve his/her liquidity position. Existing homeowners with properties that are already paid
  • for or still being financed can apply for this facility.
  • The loan shall cover up to 70% of the forced sale value (FSV) of the property.
  • The maximum term for this facility is 10 years for both TZS and USD applications.

c. Home Improvement Loan

  • Designed to assist one undertake renovation and/or extension works on his/her existing houses. Existing homeowners and companies that need improvements done on their properties can apply.
  • Loans shall not exceed 40% of the current value of the existing property.
  • The maximum term for this facility is 10 years.

d. Home Construction Loan

Home construction loan is a type of mortgage whereby financing is advanced to borrowers to enable them constructs a residential building on a property. Under Wezesha Loan, the principal amount of such loan is paid based on the different certificate of completion as submitted by the contractor.

Types of Houses to be built under Wezesha Loan

1. Brick House

2. Pre-fabricated House 

 Product Features

  • Minimum loan amount 40,000,000
  • Maximum loan amount up to 500,000,000
  • Maximum repayment period up to 25years
  • Interest rate of 18% annually
  • Borrowers must possess a title for the land on which the property is to be developed
  • Burden ration of 40% for private sector employee & 66% for public employee
  • Maximum of 12 months for construction of the house
  • Eligible for employee under age between 18-60.

Mode of financing home construction


  • 100%financingof home construction loan if the loan will be backed up by collateral indemnity or pension fund agreement to cover 10% contribution.


  • 90% financing of the home construction as per BOQ report and customer has to contribute 10% initial deposit as commitment of home construction loan. 

Additional requirements

  • Employees in the list of approved companies
  • Employees confirmed and with permanent contracts
  • Customers with no track record of unpaid for the past 6 months
  • Positive report from the Central Bank (if any) 

Home Completion applications shall also be considered in this category but 70% of the property must have been already completed. Applicants will be required to secure the loan with the property being improved upon. Loan shall be disbursed per certificate so as to ensure completion of the project. Approved Loan will be based on bill of quantities provided by a BOA approved Consultant.


  • Wealth creation through home ownership
  • Property appreciation in value
  • Affordable mortgage repayment
  • Easy flexible instalment payments that will fit customers’ cash flow
  • Flexible payment periods
  • No additional security required (other than the minimum 10 - 20% margin and the property itself


  • Borrowers must be Tanzanians /foreigners with Tanzanian spouses or children,
  • Borrowers must be between 21 and 50 years of age where by the tenor does not exceed the retirement age (retirement age is 60 years).
  • Exceptions will be considered for professionals, joint borrowers or individuals earning verifiable passive income. 
  • Borrowers must have verifiable employment and income.

Target market

  • Salaried employees.
  • Individual entrepreneurs and professionals.
  • For existing and prospective BANK OF AFRICA - TANZANIA customers (subject to Bank account statements for the last 12 months from the applicant’s current bank). Collateral arrangement
  • Minimum 10% deposit (compulsory)
  • Acquired property
  • Insurance policy (property and life) to be filed citing the bank’s interest (to be paid directly by the bank)


  • Minimum loan – TZS 40 million / USD 40,000
  • Minimum down payment – 10%
  • Maximum term – 15 years


Click here for more details