The NMB Salaried Workers Loan allows employed people to easily borrow money and repay over a period of up to 60 months.
The product requires an agreement between your employer and NMB. Once this is in place, you can easily apply for a loan to purchase household assets, finance incidental expenses like school fees and any other family obligations.
- Maximum loan amount TZS 50,000,000(Fifty million).
- The loan is repayable in 60 months.
- The monthly loan installment should not exceed 40% of the applicant's take home pay.
- Automatic repayment. Your employer will arrange the repayment of your loan by deducting the monthly installments from your salary.
- The loan is insured against death or permanent disability
- Top-up is allowed after 6 months repayment, just contact your nearest branch
The Salaried Workers Loan is a loan for all employed people in Tanzania. The employment contract needs to cover the period of the loan and your employer will need to recommend your loan.
The repayment of the loan is done by way of your employer making monthly deductions.
How to open
Check with your employer whether there is a Salaried Workers Loan agreement with NMB. If there is not, let us know and we will contact your employer.
If an agreement is in place, just contact your local branch. Once all paperwork has been completed and the repayment structure has been agreed upon with your employer, you are ready to get your loan.
Easy and quick!
Where to open
If you are interested in this product, please contact your nearest NMB branch by clicking HERE.