Salaried Workers Loan
SWL is unsecured loan product offered to contractual/permanent employees of government as well as private institutions. NMB doesn't require an employee to pledge any collateral to guarantee the repayment rather, the employee will channel his/her salary through the Bank after a Bank has entered a binding contract with the employer. Click here for more details
Features
- You can get a maximum loan amount of TZS 80 million
- You can top up your loan amount after six months
- Affordable interest rate is charged on reducing balance
- Loan tenor is 7 years (84 months)
- Repayment term varies from 1 year to 6 years
- The loan is insured against death or permanent disability
What you need to have Salaried Workers Loan?
- Channeling your salary through NMB account
- Employer must sign a facilitation agreement with the Bank
- 3 recent copies of original salary slips
- Letter of employment/contract
- Staff Identity Card
- Employee has to sign Loan application form
- Be a confirmed bona fide employee
Benefits of Salaried Workers Loan
- We TAKE OVER loans from financial institutions and loans from Higher Education Student Loan Board (HESLB)
- No restriction on the purpose of the loan
- You can use the loan as a capital to your start up business
- Ability to meet your personal needs
- The loan is insured against death and permanent disability
- No penalties and unnecessary deductions
- Surety of your repayments as agreed and signed in your repayment schedule
- You can top up at any given time
- Monthly repayments remain unchanged even if your salary goes up.
For more assistance, please visit your nearest NMB branch or call our toll free number– @nmbbank.co.tz
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