Akiba Commercial Bank (ACB) offers loans for salaried Tanzanians. The loans are paid at reasonable interest rates.
Eligible employees will be accepted for the loans upon the explicit recommendation of their employer.
WHICH EMPLOYEES ARE ELIGIBLE?
- Employees whose loan application has fulfilled the loan requirements of the bank
- Employees on permanent terms of employment
- Employees on long–term employment contracts
LOAN PERIOD AND AMOUNT
- ACB loans are short-term repayable from 6-36 months
- The maximum loan amount will be 11 times your take home salary
- A top-up on the loan balance is acceptable after 9 months of repayments
INTEREST AND OTHER CHARGES
- He bank’s interest rates are based on your declining principal balance
- Repayments are in equal monthly installments and will coincide with your salary payment dates
- ACB loan processing fees will be only 2% and a minimum of Tshs 20,000/=
- Insurance will cover your outstanding loan in case of death or permanent disability
Akiba Commercial Bank will facilitate repayments by deducting from your salary every month and issuing a repayment cheque for the total amount to any of our branches or through salary channeled into your personal account.
ACB will ensure quick, hassle-free processing of your application.
Advantages of taking a loan from Akiba include:
- Faster processing
- Low interest rates
- Flexible repayment period