Home Loans
An all-inclusive mortgage product designed to meet the needs of home loans in Tanzania
Account Overview
An all-inclusive mortgage product designed to meet the needs of home loans in Tanzania
What You Need to Open an Account
The requirements are as follows:
Copies of three months’ pay slips
Copies of twelve months banks statements
Curriculum vitae (CV)
Copies of TIN Certificate
Copies of the identification’s documents / passport
Letter from the employer stating income, retirement age, length of service and employment terms (contract or permanent)
Copy of sales agreement / bills of quantity
Draft of valuation and search report of the property
Copy of tittle deed
Audited accounts (three years) + latest management
Copies of one year’s bank statements
Business registration certificate (TIN certificate of incorporation, business license, MEMARTS)
Cash flow projections for one year
Copy of the latest annual returns and receipts
Copy of sale agreement/bills of quantity
Copies of the identification documents/passports
Draft of valuation and search report of the property
Copy of title deed
Business profile
Account Features
Access a comprehensive suite of banking services and tools:
Financing up to 80% of the property value.
Mortgage period up to 20 years.
Purpose of the loan is to finance the purchase and/or release equity from a residential house or apartment.
The bank shall finance up to 80% of the Selling price/Market value, whichever is lower. Minimum TZS 100 million and TZS 1 billion.
The loan is repayable within 20 years or no later than retirement age, or whichever comes first including the moratorium period.
The product targets persons with a minimum net income TZS 2,000,000.00. Spouse’s income may also be considered for properties jointly registered with both of them as borrowers.
Mortgage loans are subject to a non-refundable appraisal fee of 1.5% of the credit facility.
