LOANS
EXECUTIVE LOAN
Maendeleo Bank Executive Loan has been designed specifically for Senior Executives, Managers, Head of Departments, Directors, Chiefs as well as high net worth individuals.
- Should channel salary through MB account
- The loan amount ranges from TZS 1,000,000 – TZS 150,000,000
- The loan tenure is 6 months to 48 months
- Should be employed in Government or private sector
- Should have security to pledge
- You can top up your loan at any given time
- Affordable Interest rate is charged on reducing balance
- The loan is insured in case of death or permanent disability
- To calculate your repayment plan use our Loan Calculator.
- Have salary account with MBÂ Â Â Â Â Â Â Â Â
- Three (3) recent copies of original salary slips       Â
- Letter of employment/contract
- Staff Identity Card
- Fill in and sign Loan application form
- Ability to meet your personal needs
- Affordable rates
- Quick loan processing
- The loan is insured against death and permanent disability
AGRIBUSINESS LOAN
This is a loan category designed to boost the farming projects and/or the value chain. Expand spontaneously production and supply for more profit by partnering with Maendeleo Bank
Agriculture sector in this context will include primary crop producers, processors, off takers, aggregators, agriculture produce retailors, input suppliers, animal rearing, fisheries, and other similar value chain stakeholders.
- Minimum amount is TZS 1,000,000 and maximum amount depends on the purpose and ability to repay back
- Period of 1 month to 36 months
- Farmer with at least one year business records or transactions receipts
- Affordable interest rate
- Quick loan processing
- Leveraging of moneyÂ
- The loan is insured against death and permanent disability
- Farmers with at least two prior year’s good harvest and sales records
- Farmers with at least one year of banking relationship with clean records
- Be an active account holder with Maendeleo Bank.
- Demonstrate ability to repay the loan.
- You should already be in commercial farming with one year experience or one successful production cycle.
- Adequate collateral to secure the loan i.e. residential homes, commercial properties, farms, others suitable collateral
- With this loan you may finance bulk purchase of farm inputs such as certified seeds, fertilizers and chemicals.
- This loan can be used to pay for lease or for purchase of additional agricultural land, sinking of bore holes, buying of hybrid livestock, construction of biogas plants and farm houses, and to support any other agribusiness or social development
JAMII LOAN
Jamii loans are designed to boost the projects owned by religious institutions while planning to pay periodically
- Jamii Loan amount is TZS 1,000,000 to maximum amount depends on the purpose and ability to repay back
- Duration is 3 months and maximum duration of 48 months.
- Valid religious institution registration
- Religious institution which are non-profit oriented
- Be an active account holder with Maendeleo Bank.
- Demonstrate ability to repay the loan.
- Should pledged security
- Religious institution which are non-profit oriented
- Maximum Grace period of 6 month depending on the nature of investment.
- Affordable interest rate
- Quick loan processing
- Leveraging of money
POULTRY FINANCING
This is a loan category designed to boost commercial poultry keepers for feeds, medicine etc. for a period of 6 weeks to maximum of 8 weeks Â
- Loan amount ranging from TZS 1,000,000 maximum of TZS 30,000,000.
- Should be in commercial farming for at least two successful seasons
- Loan duration is 6 weeks to a maximum of 8 weeks
- Competitive interest rate
- Adequate collateral to secure the loan i.e. residential homes, commercial properties, farms, others suitable collateral
- Business should be registered
- The business must be located within a location served by a Maendeleo Bank Branch
- Business must have a steady cash flow
- Applicants must have a premise (owned or rented)
- The borrower must have business license/permit from local authorities in his or her own name
- Applicants must have a good reputation in the community
- Be an active account holder with Maendeleo Bank.
- Quick loan processing
- Payment after harvesting
- The loan is insured against death and permanent disability
HOUSING MICROFINANCE LOAN
We make your dreams a reality. Housing Microfinance loans are special and unique loans for improving individual homes.
- Must be for home improvement project or purchase the surveyed plot
- Loan amount of TZS 500,000 to a maximum of TZS 30, 000, 0000
- Have a project description and budget
- The loan is insured against death and permanent disability
- Recent pictures of the property
- Copy of title deed of the property to be mortgaged
- Copy of bill of quantities (BOQ) report if funds are to be used for house extension or improvement
- Valuation report
- Maendeleo Bank mortgage loan application form together with required application documents for loan qualification
- National ID card/passport/voter’s ID or driving license
- Should have a source of income (Salary or business)
- Be an active account holder with Maendeleo Bank.
- You enjoy lower interest rates
- Offers you the opportunity to increase your net worth with a higher valued asset
- Allows you to increase the value of your house for future resale or remortgaging
- You remain the legal owner of your property while you renovate your house
- You enjoy flexible repayment with long tenure
SMALL GROUP LOANS
Small Group Loans is the process of advancing loans of small amount with its security is based on group guarantee of five people with weekly regular repayments and deposits. The purpose of the loan is to provide finance for supporting economic activities of households and youth in the informal sector, small and medium enterprises with potential for creation of employment.
- Loan amount ranges from TZS 50,000 to TZS 3,000,000
- Affordable Interest rate is charged
- The loan is insured in case of death or permanent disability
- No conversional security is required
- Loan tenure of 4 months to a maximum of 12 months    Â
- 5 persons who enjoy mutual trust will form a group.
- Should be the residents of the area of operations or nearby communities.
- Group members should not belong to the same family
- To have loan approval from members of the group
- NIDA ID or Introduction letter from local leader.
- ID/ Passport- Originals to be viewed and copies attached.
- Two passport size photograph.
- To open an account with the Maendeleo Bank
- Ability to meet business need like adding stocks, expanding business and adding other line of business
- The loan is insured against death and permanent disability
- Availability of financial trainings
- Leverage from other group members
- Quick loan processing
MSME LOAN
These are loans to small and medium enterprises to support viable businesses and investment related activities. The credit need is assessed based on the size, nature and viability of the enterprise to be financed.
- It provides funds for working capital and investment needs.
- Flexibility in repayments ranging from 6 months to 36 months depending on the credit purpose, purpose and anticipated cash flows.
- Competitive interest rates.
- Advisory services to borrowers on business skills and management
- Flexible and appropriate instalment terms matching with nature of businesses cash flows quite loan amount ranging from TZS 3,000,000 to TZS 500,000,000
- Applicants must be at least 18 years of age
- At least three years’ experience in operating same or similar business
- The business must be located within a location served by a Maendeleo Bank Branch
- Business must have a steady cash flow
- Applicants must have a premise (owned or rented)
- The borrower must have business license/permit from local authorities in his or her own name
- Applicants must have a good reputation in the community
- Credit experience not necessary
- Quick loan processing
- Our officers are regularly trained to equip the borrowers with business skills
- The loan is insured against death and permanent disability
SACCOS LOAN
This is a credit scheme intended to cater to Members of Savings and Co-operative Credit Societies (SACCO’s). The purpose of the loan is to assist Savings and co-operative Credit Societies (SACCOS) provide short-term loans to their members.
- Should be a confirmed employee
- Amount of loan is determined by net salary pay
- The repayment period is up to 48 months
- Â No collateral required
- Affordable interest rate
- Quick loan processing
- Your salary Slips for the last three months
- Your identity Proof documents i.e. Employee ID and valid government-issued IDs
- An introduction letter from your employer.
- An appointment letter and confirmation letter.
- Your employment contract for renewal.
- Application for personal loans are done at branches of Maendeleo Bank
- Credit experience not mandatory
- You can top up the loan and borrow as many times as needed within your credit ratio
- Early payment is allowed by the customer once the customer notifies the bank through writing.
- The loan is insured against death and permanent disability
SALARY LOANS
Borrow for your Personal Growth.
Are you employed in the Government or in the private sector and need a loan to fulfill your various plans such as starting a business, educational development, buying a car, etc.? We are here for you!
- Your salary Slips for the last three months
- Your identity Proof documents i.e. Employee ID and valid government-issued IDs
- An introduction letter from your employer.
- An appointment letter and confirmation letter.
- Your employment contract for renewal.
- Application for personal loans are done at branches of Maendeleo Bank
- Credit experience not mandatory
- You can top up the loan and borrow as many times as needed within your credit ratio
- Early payment is allowed by the customer once the customer notifies the bank through writing.
- The loan is insured against death and permanent disability
- Ability to meet your personal needs
- Affordable rates
- Quick loan processing
- The loan is insured against death and permanent disability
RENEWABLE ENERGY LOAN
Renewable energy (Gas and Solar Energy)Â Loan facilities intend to provide finance to institutions, business enterprises and individual bank customers who wish to convert from use of traditional energies like charcoal and other source of energies such as electricity s into renewable energy of gas, Biogas and Solar systems.
- Fuel conversion into gas: The main objective is financing customers who wish to change their cars or machines from use of fuel into gas.
- Solar energy installation:The facility is mainly for individual customers wishing to install solar energy system as alternative electrical power
- Charcoal conversion into Gas or Biogas: The main purpose under this category is to finance customers particularly institutions wishing to convert their source of energy from use of charcoals into Gas by installing gas
fuel conversion into Gas
- Â Minimum TZS 1,800,000 (For Petrol engine/Machines)
- Maximum TZS 15,000,000 (For Diesel engine/Machines)
Charcoal conversion into Gas/Biogas
- Maximum loan TZS 24,000,000
Solar Energy installations
- Maximum 15,000,000
- Any Loan above 15 Mil borrower’s Contribution will be 20%
- Affordable interest rate
- Quick loan processing
- NIDA ID or Introduction letter from local leader.
- ID/ Passport- Originals to be viewed and copies attached.
- Two passport size photograph.
- To open an account with the Maendeleo Bank
- Cost effective as customer can save the operational cost significantly
- They will have easy access to services, including a bank loan for a guarantee from service provider,
- Renewable Energy can easily convert into cost effectively renewable energy systems which at the end of the day will have improved their income by maximizing profits.
- Enables the customer to improve income by reducing operating expenses up to 60%
- No need to change your car engine
- It is a friendly technology that enables better care of the environment
SEPA NA BAJAJI LOAN
With down payments of 20%, you can become the proud owner of your Bajaji In addition, your loan includes insurance that offers you protection against any damage to someone else’s vehicle, property or personal injury. Now get your Bajaji for any one of the following brands in Tanzania: Bajaji and TVS.
- 20% down payment is required
- Flexible on repayment term which varies from 1 year to 2 years
- Affordable Interest rate
- The loan is insured in case of death or permanent disability
- Proforma invoice showing car price from approved dealers
- One of the following: National ID (NIDA), Voter ID or Driving License
- A minimum down payment 20%
To open an account with the Maendeleo Bank
- Ability to own a Bajaji with few savings
- Flexible repayment terms from 12 to 24 Months
- You can apply through any of our Maendeleo Bank branches
- Affordable interest rate charged at reducing balance method
- The loan is insured against death and permanent disability