Stanbic Bank Tanzania
Benefit from flexible personal loans secured by Treasury Bonds, with competitive rates, up to 90% loan-to-value, and a generous repayment term up to 120 months.
Stanbic Bank Tanzania’s Personal Secured Loan (Treasury Bond cover) is tailored for individuals seeking substantial finance with manageable risk. You can borrow up to 90% of your Tanzanian government bond’s face value, with a maximum repayment term of 120 months. Interest rates are competitive and the loan is designed for flexibility, allowing for increases in loan limit once you have repaid at least one installment after a month.
How to Apply: Step by Step
- Be a Tanzanian citizen, aged 18 and above, earning at least TZS 100,000 per month.
- Maintain an active transactional account with Stanbic Bank.
- Provide your National ID (NIDA) and TIN certificate.
- Fill and sign the loan application form.
- Pledge Government of Tanzania Local Currency Bonds as security.
- Submit a bond statement and fill out necessary Central Depository Participant paperwork.
- Provide proof of extra income if applicable.
Advantages
One clear advantage is the ability to access liquidity quickly using your Treasury Bonds as security. The extended repayment term—up to ten years—makes monthly repayments more manageable.
In addition, you retain ownership of your bonds, continue to receive coupon payments, and can apply for additional funds over time if your financial needs increase.
Disadvantages
This loan offer requires you to own Tanzanian government bonds, limiting access for those who do not invest in bonds. Moreover, the application requires several documents and can feel paperwork-heavy, especially for first-timers.
The upfront facility fee (2%) and insurance charge (0.8%) may increase your initial expenses, impacting the overall loan cost.
Our Verdict
Stanbic Bank Tanzania’s Personal Secured Loan is a solid pick for investors with government bonds who want to unlock capital without liquidating their investments. The terms are attractive if you value flexibility and manageable repayments. However, the entry barrier is the need to own government bonds and navigate the paperwork. If you fit the profile, this loan gives you access to funds with sound terms and insurance included.