This is the fastest and simplest type of credit facility is designed for people who are faced with emergency financial demands which have to be fulfilled within 24 hours.
Emergency loan aims to provide a means of immediate financial assistance in the form of a short term loan for anybody who meet requirements.
From Tshs 500,000 to Tshs 3,000,000 depending on the capacity of repayment and value of collateral.
PURPOSE OF THE LOAN:
This loan product is designed to help people with immediate financial assistance whether is an employee or business man, the cash needs either in small investments (like buying assets) or settling of their bills (house rents, school fees etc)
DURATION OF THE LOAN:
Six months period.
House/plot with title deed or residential license (official mortgage shall be conducted at the ministry).
Motor vehicle (registered in Tanzania, with comprehensive insurance).
Furniture which has 200% value of the loan requested
- Work ID
- Copy of Identity card ( National ID, Voters’ ID, passport or driver’s license)
- Introduction letter from local government
- 1 passport photo
- Salary slips of the past three (3) months if your employer
- Bank statement of your salary account of the past six (6) months
- Business license, TIN and business registration certificate if your businessman
- Pictures of the collateral
- Loan will be released within 24 hours after submission of a thorough application with all the requirements as stated above.