Quick loan in Dar Es Salaam
Quick loan in Dar Es Salaam

Quick Loan in Dar Es Salaam Tanzania? | Reliable Car Loan in Tanzania

Quick loan in Dar Es Salaam
Quick loan in Dar Es Salaam

Quick loan in Dar Es Salaam, get to know where you can get quick loan while you’re in Dar Es Salaam through this Article.

Quick loan in Dar Es Salaam

  1. Quick Loans in Dar Es Salaam?

    I’ve seen many questions concerning on how to get quick loans in Dar Es Salaam. Dar Es Salaam is a big city in Tanzania with a lot of investors. Sometimes it may happen that you need a quick loan to fast track or finance your project so that to keep it going, so you’ll probably need a quick loan.

    Others need quick loan to pay school fees, so in this article I will explain 8 different company that offers quick loan in Dar Es Salaam, includes those that requires collateral and non-collateral. And you can get your quick loan in Dar Es Salaam through mobile phones depends on the amount you want to borrow. Read carefully to find out which is suitable for you or your business,

    Rapid Cash
    Rapid cash can help you meet your urgent needs, business needs within short period of time. If you’re looking at expanding your business you can opt for rapid cash since they need no collateral in their loan services. They also offer quick loan with competitive interest rate, and you can invest at rapid cash to grow your income flow. Salaried workers and reputable entrepreneurs are eligible to receive rapid cash loan. They offer different types of loan with different repayment period includes chap chap loan, Ya Kwako loan, Facility loan, Government worker loan, and flexi loan. See details in table number one below

    Absa Loan
    Absa is offering two type of loans which include unsecured loan and scheme loan. Unsecured loans are those loans that needs no collateral, and they are made available for students, personal loans and credit cards. Scheme loan is offered to salaried individual.

    Tujijenge Loan
    Tujijenge is aiming at providing capital loan to micro and small entrepreneur who got their business registered with business registry of the country. They offer minimum loan amount of 500,000 TZS, maximum amount of 20,000,000 TZS and the repayment period is scheduled from six to twelve months, and the interest rate is charged on the reducing balance.

    Requirements for Tujijenge Loan
    1. You should own a business that process TIN number.
    2. Valid business license.
    3. Collateral
    4. Two years of experience in business
    5. Application fees for individual loan is 20,000 TZS and additional of 2% to process the loan amount.

    Serene Microfinance Loan
    They offer different type of loan includes employee loan, machinery or equipment loan, fast track loan, group network loan and small business entrepreneur loan (SME).

    Employee Loan – Both formally and informally employee from credible organization can access this type of loan. The loan amount you can receive will depends on your monthly salary and the repayment amount will be deducted directly from your salary.

    Machinery/ Equipment loan – They also offer machines/equipment that can be used to process raw materials and generate income for customers.

    Fast track loan – This type of loan is provided to customers who want to finance their pending business such as school fees, tender, and cargo delivery.

    SME Loan – This loan is available for small medium enterprises.

    FNB Tanzania
    At FNB you can do transaction, invest and borrow money. They offer two types of quick loan in Dar Es Salaam includes personal loans and home loans.

    Personal Loan: You can loan from 1,000,000 TZS to 100,000,000 TZS while at FNB and the repayment period are extended up to four years.

    Home Loan: Includes home completion loan, home equity loan, standard residential home loan etc. Means that you can receive certain percentage for your home either new construction project or for completion of the project.

    Boat Tanzania
    Boat Tanzania offer quick loan in Dar Es Salaam and Tanzania at large with flexible terms and a competitive interest rates. Different loans are offered such as back to school loans, home purchase loan, renovation loan, construction loan, motor loan and so many others.

    Finca Loan
    At Finca individual, companies or small group can get quick loan in Dar Es Salaam up to 220,000,000 TZS depending on type of business they own. The loan is available to requester who are within the bank scope.

    Standard Chartered Loan
    They offer quick loan
    in Dar Es Salaam within 24 hours. People who are eligible to SC loan are those earning minimum net salary of 250,000 TZS per month. They also offer flexible repayment period, with no collateral and low interest rate.

  2. Car Loan Tanzania

    Car Loan

    The followings are companies/institutions you can use to get your car loan in Tanzania,

    NMB Bank PLC
    National Microfinance Bank offers car loan to salaried employees with permanent terms of employment.

    A maximum of 70 million Tanzania Shillings loan is offered for borrower who needs to own a used car. Means that you can borrow up to 70 million for a used car. Down payment of 25% is compulsory by NMB before getting car loan. The loan has flexible repayment period expand from 1 to 5 years, and affordable interest rate. Furthermore this loan features insurance coverage for unforeseen events such as death.

    For brand-new cars NMB offer up to 100 million Tanzania Shillings and down payment of 15% is compulsory. Repayment period expand from 1 to 5 years, fair interest rate and insurance coverage for unforeseen events such as death or permanent disability.

    What you need to have your NMB Car Loan?
    1. Shifting your salary through NMB Bank account
    2. The invoice with car price from approved dealers.
    3. Down payment verification in your account

    NCBA Tanzania Car Loan
    NCBA Tanzania offer car loan with resilient repayment period up to 5 years. The maximum amount you can borrow is up to 150,000,000 TZS. Down payment is compulsory and for brand-new cars is 10% while for second hand car is 30%. This loan is available in both Tanzanian Shillings and United states Dollars. Insurance coverage in case of death or permanent disability is provided and the interest rate to be charged on reducing balance.

    Cheki
    You can also visit cheki.co.tz to get financial loan from trusted financial institution in order to purchase your dream car. At Cheki website you can also sell and advertise your insurance company.

Loan TypeAmount / PropertiesRepayment Period
CHAP CHAP LOANUP TO 5,000,000 TZS30 Days
YA KWAKO LOANUP TO 15,000,000 TZSWithin 6month
FACILITY LOANcar, machines etc..12 month
GOVERNMENT WORKER LOANDepends on salary1 Year
FLEXI LOAN5,000,000 TZS3 Months
Table number 1: Rapid Cash Loan

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