Bank, Loan, Revolving Line of Credit, Stanbic

Revolving line of credit

A Revolving line of credit offers you continuous credit at a fixed monthly instalment.  This means you may borrow again up to the original amount on the same loan, without re-applying, immediately after you have repaid 15% of the loan.

Features and benefits

The loan amount you qualify for depends on your income and how much you can afford
Once you have repaid 15% of the loan, you may borrow again up to your original loan amount and your repayments will remain unchanged
You can apply to increase the limit on your existing loan when you require additional funds
The minimum repayment remains fixed for the life of your loan account which enables you to budget more effectively
The interest rate is linked to the prime rate and will be based on your risk profile.
When the prime interest rate changes, your minimum repayment amount remains unchanged while the loan period increases or decreases.
You can pay into your loan whenever you have extra cash available. You can withdraw this extra cash once you have met the minimum revolve limit.
You have the option to take out insurance which will give you the peace of mind of knowing that your loan will be settled in full in the event of disability, dread disease or death
You will be charged a once-off initiation fee at the start of the loan; thereafter a monthly service fee will be levied.

Who can apply

To qualify for a Revolving Line of Credit, you must:

be 18 years or older;
be a Tanzanian citizen or permanent resident with an identity book;
earn a gross monthly income of at least Tsh1.5 Million; and
have a transactional account (with Stanbic Bank or another bank) into which your salary is deposited

How to apply
To apply for a Fixed Term loan account  just visit your nearest Stabic Bank branch with the following documents:

Your  identity card;
your latest salary slip or confirmation of your income
proof of your current residential address; and
six months bank statements if you do not bank with Stanbic Bank.


Tel: +255 (22) 266 6850
        +255 (22) 266 6801
E-mail: tanzaniacustomercare@stanbic.com
service@stanbic.com
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Bank, Loan, Vehicle Asset Finance, Stanbic

Vehicle and asset finance

Finance lease
This is a contractual arrangement that allows the bank to buy the asset and lease them to the customer for an agreed period of time for a consideration of specified periodic rental payments. Once the period is complete the customer has the option of gaining outright ownership and title of the assets for a nominal price.

Asset based term loan
This arrangement is best tailored for all those customers who are VAT exempt and need to enjoy the benefits of Asset based Finance Under this arrangement the Bank provides a customer with a specific assets loan and takes charge over the asset financed as security in the form of debenture or chattel mortgage. The option is also suitable for businesses which seek to invest in plants and machinery and joint ownership cannot be affected on conventional registration documents.

Sale and lease-back
This option is only available to corporate organizations that want to raise cash for working capital by “selling” their unencumbered assets to us and we refinance the goods over a specific period of time.  Due to complexities in accounting, income tax, and VAT implications this type of finance is offered on restrictive basis. Shall you wish to pursue this option further please talk to our specialists who will be happy to discuss in detail.

Personal vehicle finance
At Stanbic, we want to make owning a vehicle a quality vehicle less complicated and yet affordable for Private Individuals and other professionals.

We have in our offer a number of options for personal vehicle finance. These include:

Individuals vehicle finance scheme
You as an Individual person may apply for a facility based on monthly income and retirement age restriction. The option is also available to expatriates working in the country with an unexpired term in their contract of more than two years

Company car schemes
We offer a range of tailor-made solutions, including:
Direct finance - We finance the employer on a normal finance transaction or on a rental (operating lease) basis. The employer then gives the employee use of the vehicle
Guaranteed scheme - We provide finance to employees while the employer provides us with a guarantee that monthly deductions will be made from their employee’s salary, ensuring that all payments are met while the employee remains with the company and guarantees the settlement of all finance deals.
Administrative scheme - We provide finance for employees while the employer offers administrative support with monthly deductions from the employee’s salary and informing us about resignations and retrenchments.
Types of assets financed
We offer options of finance for new and used* as well as imported. The broad categories of assets financed through our schemes include:

Passengers, commercial and personal vehicles
Capital equipment including plants and machinery, mining equipments, printing and press machinery and professional equipments.
Medical and specialized healthcare equipments
Construction and Earth Moving equipments
Agricultural equipment
Specialized Finance for Aircraft and marine vessels
Assets must sourced from a reputable supplier, preferably from the panel of approved Bank suppliers**. Proof of capability for after sales support and maintenance is of essence for the sought asset to be financed

Who can apply
You can apply for Vehicle and Asset Finance provided you:

are 18 years or older;
are a Tanzanian citizen or permanent resident with an identity book;
have a transactional account (with Stanbic Bank or another bank) into which your salary is deposited or have a bank statement for a period of more than six months, but you are ready to open an account with Stanbic bank and route all proceed through us
We also offer vehicle and asset finance to:

Small and Medium Enterprises
Corporates
Non-Governmental organisations, government entities


Tel: +255 (22) 266 6850
        +255 (22) 266 6801
E-mail: tanzaniacustomercare@stanbic.com
service@stanbic.com
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Finance Loan Home Stanbic





Unlock Your Dream Home with Stanbic Bank Home Loans

A house is more than just an investment; it's a place to call home and create memories that will last a lifetime. With a Stanbic Bank home loan, you can invest in your future and simplify the process of buying, building, or improving your home. By being pre-approved for a home loan, you are seen as a cash buyer by estate agents and sellers, giving you a significant advantage in the competitive real estate market.

Key Features and Benefits

Stanbic Bank has designed its home loan options to make the process of house hunting and buying easier. Because they understand what life is like, they have tailored their solutions to meet your needs.

  • Generous Financing: The bank will finance up to 80% of the property's value, with a required deposit of just 20%.

  • Flexible Amounts: There is no maximum loan amount as the loan is determined by your repayment ability.

  • Affordable Repayments: Your monthly repayments should not exceed 40% of your net monthly income, ensuring the loan remains manageable.

  • Long Repayment Period: You have up to 15 years to repay your loan, providing a flexible and comfortable repayment plan.

Who Can Apply?

Applying for a Stanbic Bank home loan is straightforward. You are eligible if you:

  • Are 18 years or older.

  • Are a Tanzanian citizen or permanent resident with an identity book.

  • Have a transactional account (either with Stanbic Bank or another bank) where your salary is deposited.

How to Apply

The application process is simple. To get started, just visit your nearest Stanbic Bank branch with the following documents:

  • Your identity document.

  • Proof of income.

  • Your bank account details.

  • Your employer's details.

  • Any existing Stanbic Bank loan details, if applicable.

Helpful Weblinks and Contact Information

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