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sales@microtelecomms.com
Email Address
+255 712 602 202
Hotline
2nd Floor, Savei Plaza, Sam Nujoma Road, Mwenge

Employee Loan

A loan which is designed to help families or individuals who are in need of any Home items such as Television, Sofa Set, Dinning Table, Refridgerator, Gas Stove etc. The borrower will be granted one of aforementioned Home Appliances and an appliance will serve as Collateral. Therefore no external collateral is required.

Eligibility Criteria

  • One current passport size of Borrower;
  • Loan application letter;
  • official first appointment employment letter;
  • Salary deduction confirmation letter from current Employer;
  • An individual can access a Personal Loan of between TZS 300,000.00 and TZS 3,000,000.00;
  • Client must be in active employment;
  • No collateral is required to secure loan;
  • Maximum repayment period is six (6) Months;
  • National Identity card (NIDA) for Borrower and Guarantor is mandatory;
  • One (1) guarantor is required he/she must be working in the same company;
  • Loan process is within 48 hours during working days;
  • Applicant must be at least 18 years old or above;
  • Six (6) months’ salary bank statement and three (3) current pay slips;
  • Loan Application Letter and Letter of employment/ last promotion letter;
  • Clients will be charged by SML an interest rate of 3.5%;
  • Repayment mode is strictly through cheque/ Remittal (standing order) mandate on client’s salary account.
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