Loans for school fees and educational requirements.

Terms and Conditions

• Loan amount is up to TZS 10,000,000 or five times the member’s savings.
• Interest rate is 18% per annum, loan fee is 1%, and loan insurance is 0.09%.
• Repayment period is up to 12 months.
• Applicant must have contributed mandatory savings for at least 3 months.
• Applicant must have paid at least 50% of membership shares.
• Loan repayments must not exceed one-third (1/3) of salary

Loans secured against fixed deposit accounts.

Terms and Conditions

• Loan amount is up to 90% of the investment value.
• Interest rate is 10%, loan fee is 1%, and loan insurance is 0.03%.
• Repayment period is up to 60 months.
• Member must have paid at least 50% of membership shares.
• For salaried employees, loan repayments must not exceed one-third (1/3) of salary.

Loans for new members.

Terms and Conditions

• Loan amount is up to TZS 3,000,000.
• Interest rate is 18%, loan fee is 1%, and loan insurance is 0.09%.
• Repayment period is 12 months.
• Member must have paid at least 50% of membership shares.

Loans for household and production equipment.

Terms and Conditions

•  Loan amount Up to 3 times the member’s savings (X3 multiplier)
• Interest rate is 12% per annum on a reducing balance basis
• Loan fee is 1%, and loan insurance is 0.06%.
• Repayment period is up to 36 months.
• The borrower must have contributed mandatory savings for at least 3 months.
• The borrower must have paid at least 50% of membership shares.

Loans for the purchase of transport vehicles.

Terms and Conditions

•  Loan amount Up to 5 times the member’s savings (X5 multiplier)
• Interest rate is 10% per annum on a reducing balance basis
• Loan fee is 1%, and loan insurance is 0.045%.
• Repayment period is up to 48 months.
• The borrower must have contributed mandatory savings for at least 3 months.
• The borrower must have paid at least 50% of membership shares.

Loans intended to meet urgent needs such as salary advances and emergencies.

Terms and Conditions

• Maximum loan amount is TZS 500,000.
• Interest rate is 5% per month, loan fee is 2%, and loan insurance is 0.09%.
• Repayment period is 3 months.
• The borrower must have paid at least 50% of membership shares.

Loans for other SACCOS to support liquidity needs.

Terms and Conditions

• Maximum loan amount is TZS 300,000,000.
• Interest rate is 5% per month, loan fee is 2%, and loan insurance is 0.09%.
• Repayment period is up to 1 year.
• The borrowing SACCOS must provide financial statements for the past 2 years.
• The borrowing SACCOS must provide Board Meeting Minutes approving the loan application.
• The borrowing SACCOS must submit an approved debt ceiling from the Annual General Meeting.
• The borrowing SACCOS must provide a list of loan beneficiaries.

Loans for various emergencies.

Terms and Conditions

• Maximum loan amount is TZS 10,000,000
• Interest rate is 18% per annum, loan fee is 1%, and insurance is 0.09%.
• Repayment period is up to 12 months.
• Applicant must have contributed mandatory savings for at least 3 months.
• Applicant must have paid at least 50% of membership shares.
• Loan repayments must not exceed one-third (1/3) of salary

Loans for long-term emergencies not exceeding two years

Terms and Conditions

• Maximum loan amount is TZS 10,000,000
• Interest rate is 3% per month on a reducing balance basis.
• Loan fee is 1% of the loan amount.
• Loan insurance is 0.09% for the loan period
• Repayment period is up to 24 months.
• Applicant must have contributed mandatory savings for at least 3 months.
• Applicant must have paid at least 50% of membership shares.
• Loan repayments must not exceed one-third (1/3) of salary