Personal Secured Loan (Treasury Bond cover)
Get access to your funds again after repayment of one month and above with the option to increase your original amount over time.
Personalized
Interest rate
120 months
Months to repay
Up to 90%
Maximum loan limit
TZS 100 000
Minimum monthly income
Some of the benefits
Access to Liquidity
Provides quick access to liquidity
Affordability
Let your coupon repayments cover your loan repayments
Ownership Retention
You continue to own your bonds for the duration of the loan
Flexible
Able to increase your loan amount at a later stage
What you get
- Ability to apply for an increase in the limit on the existing loan when you require additional funds.
- Loan size of up to 80% of the bond face value ( TZS 500,000 minimum as aligned to minimum investment quantum) if client repays using coupons only and 90% if repays with coupons and additional sources of funds such as salary.
- Tenure up to 120 months ( 10 years)
- Loan repayment: bi-annual basis aligning to coupon payment dates
- Eligible for Buy back
- Eligible for family registered bonds
- Insurance cover on the loan
What it costs
- Facility fee of 2% chargeable upfront
- Competitive interest rates
- Insurance cover at an upfront rate of 0.8% of loan amount
- ITI (Instalment to income) of 50% for additional income sources such as salary, dividends, director’s fees & 100% for full coupon repays/repayments
How to get it
- Tanzanian citizen
- Be 18 years and above
- Earn a minimum Net monthly income of TZS 100,000
- Have an active transactional account with Stanbic bank
- Minimum banking history with Stanbic: New & Existing clients
- Valid National ID (NIDA)
- Personal TIN certificate
- Signed Loan application form
- Client must have Stanbic Bank as its Central Depository Participant (CDP)
- The security will be Government of Tanzania Local Currency Bonds
- CDS Agreement form/Application to open a CDS Securities Account
- Signed Dealing Mandate and PSA
- Bond statement which shows bond status (FREE & PLEGDED)
- CDS Bank account details illustrating where the coupons are paid
- A signed Lien creation form which pledges the bond as a security
- A signed Lien release form when loan has matured, or value of the bond has exceeded 85% of market value which increases the loan exposure to the adequate level determined of 80% loan to total collateral held
- Submission of proof of additional sources of income such as Salary slip, shares certificate etc, where applicable.
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What you get
-
What it costs
-
How to get it
- Ability to apply for an increase in the limit on the existing loan when you require additional funds.
- Loan size of up to 80% of the bond face value ( TZS 500,000 minimum as aligned to minimum investment quantum) if client repays using coupons only and 90% if repays with coupons and additional sources of funds such as salary.
- Tenure up to 120 months ( 10 years)
- Loan repayment: bi-annual basis aligning to coupon payment dates
- Eligible for Buy back
- Eligible for family registered bonds
- Insurance cover on the loan
- Facility fee of 2% chargeable upfront
- Competitive interest rates
- Insurance cover at an upfront rate of 0.8% of loan amount
- ITI (Instalment to income) of 50% for additional income sources such as salary, dividends, director’s fees & 100% for full coupon repays/repayments
- Tanzanian citizen
- Be 18 years and above
- Earn a minimum Net monthly income of TZS 100,000
- Have an active transactional account with Stanbic bank
- Minimum banking history with Stanbic: New & Existing clients
- Valid National ID (NIDA)
- Personal TIN certificate
- Signed Loan application form
- Client must have Stanbic Bank as its Central Depository Participant (CDP)
- The security will be Government of Tanzania Local Currency Bonds
- CDS Agreement form/Application to open a CDS Securities Account
- Signed Dealing Mandate and PSA
- Bond statement which shows bond status (FREE & PLEGDED)
- CDS Bank account details illustrating where the coupons are paid
- A signed Lien creation form which pledges the bond as a security
- A signed Lien release form when loan has matured, or value of the bond has exceeded 85% of market value which increases the loan exposure to the adequate level determined of 80% loan to total collateral held
- Submission of proof of additional sources of income such as Salary slip, shares certificate etc, where applicable.