Terms and Conditions

You will have to disclose if you have any loan with other lenders

If you have other loans with other lenders, you must make sure that those deductions are not above 55% of your income

Our total fee is 10% per month, made up of interest, application fee, processing fee and insurance costs for the first month.

If you restructure your loan then we will charge you another 10% per each additional month which is made up of interest and retention fees.

All your repayment will be made through the Company bank account and you will have to retain payment evidence

The borrower is considered in default if he/ she refuses, neglects or fails to pay any part of the principal or interest as and when due under this agreement, when the refusal, negligence or failure extends beyond five (5) days from due date

In case of default, Borrower hereby agree and give consent for the Lender to disclose and furnish the information to Tanzania Credit Reference Bureau and/ any other agency authorized in this behalf by Bank of Tanzania.

The lender may request the immediate repayment of the balance of the principal and interest owned by a borrower in default

In case of delays of repayments of more than five (5) days after the due date a loan will be rolled forward hence charged another 10% on the total of accumulated of interest and principal. . Before rolling it forward and charging, the customer must be contacted.

In the event that the Borrower defaulted on the loan, the Borrower is responsible for all collection fees, including debt collectors, court costs, attorney fees. No matter the case, the Borrower is still responsible for paying the principal and interest if a default occurs