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Bank loans in Tanzania

Priscilla

Hello,

Finances and banking can sometimes be a headache for many °µÍø½ûÇøs, especially when it comes to taking out bank loans.

Is it difficult for an °µÍø½ûÇø to get approved for a bank loan in Tanzania?

What are the types of bank loans available for °µÍø½ûÇøs (mortgage/bonds; business loans; car loans; personal loans; student loans)?

What are the general conditions for °µÍø½ûÇøs to take out bank loans (interest rates; timeframe to repay loans, etc.)?

Which bank in Tanzania is the most popular or accessible for °µÍø½ûÇøs regarding loans?

Would you normally require the services of an accounts manager at the bank in order to facilitate the process of taking out a loan? Is this service free of charge?

What would happen in the case of an unpaid loan if you have to repatriate back to your home country or move somewhere else?

Are there any other options for loans aside from the bank in Tanzania, such as taking out a loan from your bank in your home country, or other types of companies not affiliated with banks, that give out loans?

Thank you for sharing your experience.

Priscilla

See also

Banking in TanzaniaInvesting in TanzaniaOpen a bank account with only a tourist visa?Evolution of banking services in TanzaniaSavings in Tanzania
rishi

Hello

Rishi here.. Bank of BARODA was useful for me to get a quick loan of USD 5000 as i had to come for my father funeral in Mauritius. My company which i was working had to guarantee me for same.

We have others bank like Exim bank also are good .As °µÍø½ûÇø contact also is very important with banker to facilitate process.

REGARDS
Rishi