Credit
This account is to enable a member of unregistered group get access with the loan facility. He/ she must be a member of the small group of five members formed with the guidance.
Need to maintain a savings account with MHB with a compulsory amount equivalent to a minimum of 20% of the loan being requested.
Features:
- Loans are for existing businesses and not for startups with regular cash flows
- Must attend pre-loans training to be conducted by MHB officers
- Must have attained majority age i.e 18 years old
- Must be a resident in a community where group lending is operational
- Should be willing to attend weekly/monthly meetings as required by MHB without fail
Min. loan amount (TZS):
- 50,000/=
Max. loan amount (TZS):
- 2 Million (4 levels)
Loan tenure (TZS):
- 3 – 12 Months
This account enable a member of unregistered group get access with the loan facility and one of the eligibility must have graduated from basic solidarity loans of up 2.0 million.
Features:
- Loans are for existing businesses and not for startups with regular cash flows
- Must attend pre-loans training to be conducted by MHB officers
- Must have attained majority age i.e 18 years old
- Must be a resident in a community where group lending is operational
- Should be willing to attend weekly/monthly meetings as required by MHB without fail
Min. loan amount (TZS):
- Above 2 Million
Max. loan amount (TZS):
- 3 Million
Loan tenure (TZS):
- 12 Months
Account designed for groups to easily get access with loans, maintaining a savings account with MHB with a compulsory amount equivalent to a minimum of 20% of the loan being requested.
Features:
- VSLA Group must maintain account with MHB
- Must be registered by CDO
- Must have share registration certificate
- The group must have 3 leaders: Chairman, Secretary and Treasury
Benefits:
- Get access to over our MHB branches
- Customer money is safe and secured
- Reasonable Bank charges and yet affordable
- Enjoy unlimited Transactions with signatories
- Free cash and on us cheque deposit
Min. loan amount (TZS):
- N/A
Max. loan amount (TZS):
- Loan Amount will depend on the value of shares of the group as well as last amount graduated with
Loan tenure (TZS):
- 12 Months