- For construction of New Dwelling Unit.
- For acquisition of New Dwelling Unit.
- For financing purchase of old dwelling unit not more than 15 years provided the flat/house is structurally strong.
- For repair/renovations/extension of the existing house.
- For repayment of the loan already availed from any other institutions.
Maximum Tsh. 500 Mn. or equivalent in foreign currency
CEILING ON LOAN AMOUNT:
Loan amount depends on an adequate monthly net disposable income.
20% for construction/acquisition of dwelling unit (including cost of land).
25% for repair/renovation/extension of existing dwelling unit.
30% for purchase of old dwelling unit.
35% for purchase of plot only.
RATE OF INTEREST:
- Legal mortgage of the property.
- Personal guarantee of one or more persons with an aggregate net worth twice the loan amount.
- The maximum repayment period is 15 years (including moratorium)
- In exceptional/deserving cases up to 20 years (including moratorium)
- Repayment facility available under Equated Monthly Installments (EMI)
Reckoned 18 months from the date of first disbursement or completion of construction whichever is earlier.
As per card rate.