Finance Loan Personal Stanbic




Get the Funds You Need with a Stanbic Bank Fixed Term Loan

Need some extra cash for a major purchase or to cover an expense over time? A Stanbic Bank Fixed Term Loan could be the perfect solution. This personal loan is designed to provide short- to medium-term financing, giving you the flexibility to meet your financial goals.

What Is a Fixed Term Loan?

A fixed term loan is a type of personal loan that allows you to borrow a specific amount of money and repay it over a set period of time. With Stanbic Bank, this period can be 12 to 24 months. The loan is repaid in fixed monthly installments, which makes budgeting simple and predictable. You'll know exactly how much you need to pay each month, which includes both the principal and the interest.

Key Features and Benefits

Here’s a breakdown of what makes the Stanbic Bank Fixed Term Loan a great option:

  • Flexible Loan Amounts: The amount you can borrow is based on your income and what you can comfortably afford. This ensures the loan is manageable for you.

  • Affordable Repayments: The loan amount is tied to your Installment To Income (ITI) ratio, meaning your monthly payment won't be more than what's considered acceptable for your financial situation. In fact, loans may be granted for up to 30% of your net salary.

  • Clear Terms: The loan has a fixed term of either 12 or 24 calendar months, providing a clear timeline for repayment.

  • Amortized Payments: Your monthly payments are amortized, meaning they are structured to pay off both the loan principal and the accrued interest over the life of the loan. This ensures the loan is fully paid off by the end of the term.

  • Late Payment Charges: It’s important to make your payments on time. Interest will be charged on late payments, so be sure to stick to your repayment schedule.

Who Is Eligible to Apply?

Applying for a Fixed Term Loan is straightforward, provided you meet a few simple criteria. You must:

  • Be a Tanzanian citizen with permanent residency.

  • Have been permanently employed for at least 12 months.

  • Earn a net monthly income of Tsh 150,000 or more.

  • Have an existing Stanbic Bank transactional account that has been active for at least 6 months and receives your monthly salary deposits.

How to Apply

Ready to get started? The application process is easy. Just visit your nearest Stanbic Bank branch and bring the following documents with you:

  • Your most recent verifiable payslips.

  • A formal letter of introduction from your employer.

  • Your last six months of bank account statements (if you're a new customer).

  • Proof of your residential address.

Need to Learn More?

For additional information or to speak with a customer service representative, you can reach out to Stanbic Bank directly.

  • Phone:

    • +255 (22) 266 6850

    • +255 (22) 266 6801

  • Email:

    • tanzaniacustomercare@stanbic.com

    • service@stanbic.com

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1 comment:

  1. Mahesh BaneJuly 25, 2023 at 2:58 AM

    In personal loan there are special preference for Salaried People where they can loan instantly.

    ReplyDelete

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