Exim Bank
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EXIM BANK SHOWCASE ITS HOME
MORTGAGE PRODUCT

HOME MORTGAGE PRODUCT

In an effort to support mortgage financing in the country, Exim Bank Tanzania has embarked on a program to showcase its "NYUMBA YANGU" product in various exhibitions.

The awareness campaign aims at ensuring that many individuals get to understand the benefits of home loans to the county’s economic growth.

Speaking during the DarPropertyExpo Exhibition held at Diamond Jubilee Hall in Dar es Salaam at recently, Exim Bank Tanzania Retail Officer Ms Helen Moka said her bank supports government’s efforts to help its citizens own homes at a stress free environment.

She said the Nyumba Yangu product is an individual long term home loan scheme where in Exim Bank provides home loans up to 80% of the cost towards purchase of a residential property either from National Housing Corporation (NHC) or from others.

“Some of the main features include; Minimum loan amount is TZS 30,000,000(Thirty million). Maximum loan amount is TZS 350,000,000(Three hundred and fifty million). Maximum loan repayment period is 180 months.

“Other terms and conditions for the loan are; Applicant's age should be between 21 to 58 years age. In case of insufficient net income, joint income with applicants spouse consent is permissible. The property and life of the applicant is to be insured. Property valuation has to be done by Exim Bank approved valuers. The monthly loan installment should not exceed 50% of the applicant's net income,” she said.

Exim Bank Tanzania Retail Officer Ms Helen Moka (first left) takes Minister for Lands, Housing and Human Settlement Developments, Prof. Anna Tibaijuka through Exim Bank brochures with details on home loan products offered by the bank during the DarPropertyExpo Exhibition held at Diamond Jubilee Hall in Dar es Salaam at the weekend. Looking on (second left) is Exim Bank Marketing Executive Fatma Kilinda. (Photo by our correspondent).

Exim Bank Tanzania Retail Officer Ms Helen Moka (first left) takes Minister for Lands, Housing and Human Settlement Developments, Prof. Anna Tibaijuka through Exim Bank brochures with details on home loan products offered by the bank during the DarPropertyExpo Exhibition held at Diamond Jubilee Hall in Dar es Salaam at the weekend. Looking on (second left) is Exim Bank Marketing Executive Fatma Kilinda. (Photo by our correspondent).

Exim Bank Tanzania Retail Officer Ms Helen Moka (left) takes customers through Exim Bank brochures with details on home loan products offered by the bank, during the DarPropertyExpo Exhibition held at Diamond Jubilee Hall in Dar es Salaam at the weekend. (Photo by our correspondent).

Published: Thursday 8th May, 2014