This is a compiled set of answers to questions that commonly arise during loan applications. The section will help to get more information about the bank and type of loans and services available, loan application process, eligibility for a loan, grace period information
The bank accepts the following classes of assets as collateral for loan facilities;
Mortgage over Commercial landed properties, Mortgage over Residential landed properties,
Assignments over credit insurance guarantees/bond,
Assignments over fixed deposit receipts,
Assignments over either primary mining licenses, mining licenses or special mining licenses backed by geological reports that meets international standards (JORC , SAMREC , NI 43-101)
Yes, the bank offers a grace period of up to 3 years based on the type of facility requested, requirements and implementation period of each project.
The bank offers flexible loan repayment terms of up to 20 years. The repayment period is dependent on the nature of the project and the respective credit risk assessment to be conducted.
TIB offers affordable and competitive interest rates depending on the nature of a project and the respective risk appetite during credit risk assessment.
Once the applicant has submitted all the required project information, the loan assessment process takes 2 months before the disbursement process commences.
Applicant must be a registered corporate entity within the United Republic of Tanzania i.e. limited liability company, cooperative society etc. Applicant is required to submit among other things, all copies of relevant company registration certificates, business plan/feasibility study and relevant regulatory permits. To obtain a list of all the necessary documents required for submission open the checklist link in what products page.