Bank loans in Tanzania

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Priscilla ViP

Member since 30 May 2013

PriscillaViP22 August 2018 09:42:32

42358

Hello,

Finances and banking can sometimes be a headache for many expats, especially when it comes to taking out bank loans.

Is it difficult for an expat to get approved for a bank loan in Tanzania?

What are the types of bank loans available for expats (mortgage/bonds; business loans; car loans; personal loans; student loans)?

What are the general conditions for expats to take out bank loans (interest rates; timeframe to repay loans, etc.)?

Which bank in Tanzania is the most popular or accessible for expats regarding loans?

Would you normally require the services of an accounts manager at the bank in order to facilitate the process of taking out a loan? Is this service free of charge?

What would happen in the case of an unpaid loan if you have to repatriate back to your home country or move somewhere else?

Are there any other options for loans aside from the bank in Tanzania, such as taking out a loan from your bank in your home country, or other types of companies not affiliated with banks, that give out loans?

Thank you for sharing your experience.

Priscilla

rishi Serial expat

Member since 17 June 2009

rishiSerial expat27 August 2018 08:06:38

206

Hello

Rishi here.. Bank of BARODA was useful for me to get a quick loan of USD 5000 as i had to come for my father funeral in Mauritius. My company which i was working had to guarantee me for same.

We have others bank like Exim bank also are good .As expat contact also is very important with banker to facilitate process.

REGARDS
Rishi

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