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Mwanga Hakika Microfinance Bank LimitedMwanga Hakika Microfinance Bank LimitedMwanga Hakika Microfinance Bank Limited
+255 747 666 511
Mwanga Hakika Microfinance Bank LimitedMwanga Hakika Microfinance Bank LimitedMwanga Hakika Microfinance Bank Limited

Personal Banking

Credit

  • Agricultural Loans

This is account is designed to grant loans to farmers as individuals, groups, associations, company, saccos etc

Features:
  • The applicant must have attained majority age of 18 yrs old
  • Farmer must have a farm producing non – perished crops and harvest records for at least 2 years
  • Have good borrowing records
  • Maintain account with MHB Only
  • This loan is eligible for supporting already planted crops and not for starting cultivation i.e. Clearing the field
Benefits:
  • Guaranteed safety of your cash after harvest
  • No maintenance fees
  • Access to all MHB delivery channels I.e Branches , Umoja Switch ATMs, MHB Mobile Banking and WAKALA Agents.
Min. loan amount (TZS):
  • N/A
Max. loan amount (TZS):
  • Depend to the requirements submitted and analysis by Credit Officer
Loan tenure (TZS):
  • 3 – 12 Months
  • Salary Advances (Ext. employees)

This is a credit scheme which intends to cater for salaried employees’ of reputable institution to meet their short term financial needs in particular

Features:
  • Salary advances shall be repayable within 1 to 3 months
  • No upfront charges
  • Mode of repayment; deduction from employee monthly salary
Benefits:
  • If incase of emergence occur, may be a quick loan, Salary Advance is an inexpensive way to sort you
  • Registered on Mobile Banking
Min. loan amount (TZS):
  • N/A
Max. loan amount (TZS):
  • 75% of net salary after all deduction including MHB loans.
Loan tenure (TZS):
  • 1 – 3 Months
  • Salaried Loans (Government)
For Government Employees

Loan offered to the salaried employees of government whose mode salary payment is through monthly remittance of net salary by the employer to the borrower’s salary account held at MHB.

The product requires an agreement between the Employer and MHB. Once this is in place, you can easily apply for loan to purchase household assets, finance incidental expenses like school fees and any other family Obligations.

Features:
  • Must have attained majority age i.e 18 years
  • Employee must be employed on a permanent basis or under a contract of at least two years
  • Employee must have worked with the employer for not less than 6 months
  • At least salaries for the past 1 month must have passed through MHB
Benefits:
  • Eligible for MHB Card
  • Access to salary Advance loan
  • Easy access of fund 24/7 days using MHB Mobile Banking, MHB Branches and MHB ATMs partnered with Umoja switch all over the country
  • Easy process for opening account
Min. loan amount (TZS):
  • N/A
Max. loan amount (TZS):
  • Any amount which meets the conditions of 2/3 of deductions or the amount approved by the Bank
Loan tenure (TZS):
  • 60 Months
  • Salaried Loans (Private Sector)
For Private Sector Employees

Loan offered to the salaried employees of private whose mode salary payment is through monthly remittance of net salary by the employer to the borrower’s salary account held at MHB

The product requires an agreement between the Employer and MHB. Once this is in place, you can easily apply for loan to purchase household assets, finance incidental expenses like school fees and any other family Obligations.

For any Employee of the private sector will compulsory require to channel his/her salary to the Bank.

To reduce risk, Employees from private companies can be requested to provide additional collateral (on case-to-case basis)

Features:
  • Must attained majority age i.e 18 years
  • Employee must be employed on a permanent basis or under a contract of at least years
  • Applicant must open and operate account with MHB
  • Employees must have worked with the employer for not less than 6 months or longer and must be confirmed in the position
Benefits:
  • Eligible for MHB Card
  • Access to salary Advance loan
  • Easy access of fund 24/7 days using MHB Mobile Banking, MHB Branches and MHB ATMs partnered with Umoja switch all over the country
  • Easy process for opening account
Min. loan amount (TZS):
  • N/A
Max. loan amount (TZS):
  • Any amount which meets the conditions of 2/3 of deductions or the amount approved by the Bank
Loan tenure (TZS):
  • 60 Months
  • Asset Financing Loans

Applicable only to buying of new assets, vehicles and not second hand assets. The buying asset / vehicle must be used for commercial purpose (i.e. income generating activities) not for personal use (e.g. Purchase of three wheeler Bajaj to ferry passengers, or purchase of construction equipment’s for commercial use by contractors or agriculture equipment’s etc.)

Features:
  • The Borrower required to take a comprehensive insurance of the financed assets at all point in time
  • Customer / Borrower to maintain account with the Bank
Eligibility (Requirements):
  • Loan application letter
  • Full description of Assets to be financed
  • Full contact details of the Supplier/Manufacturer/Vendor
  • KYC documents relating of the Customer (IDs/Photo etc.)
For Corporate Customers:
  • ID of all Directors
  • TIN Numbers of the company
  • Business license and certificate of Registration of the company
  • Certificate of incorporation
  • Tax clearance certificates
  • BRELA return
  • 3 years audited financial statement
  • Cash cover to cover the whole period of the Loan
Min. loan amount (TZS):
  • TZS. 1 Million
Max. loan amount (TZS):
  • Up to single borrower limit as per Bank Capital
Loan tenure (TZS):
  • 6 – 60 Months
  • Home Improvement Loans

The purpose of this loan is to provide funds to MHB Clients for housing improvements and incremental building to improve standard of living.

Features:
  • Customer must have business which will cater for installment payments in which its assessment will done as for Business Loan.
  • Affordable interest rates
Benefits:
  • Loan insured with Mortgage Protection Cover (In case of death or disability)
  • Opportunity to own your dream house
Min. loan amount (TZS):
  • TZS. 3 Million
Max. loan amount (TZS):
  • Up to single borrower limit as per Capital
Loan tenure (TZS):
  • 3 – 60 Months