Diaspora Banking English

Eligibility and Requirements:

Tanzanian Citizen Diaspora

• Certified copy of your National Identification card (NIDA) or Tanzanian Passport ID.
• Two passport size pictures.
• Certified Copy of (Driving License, Student ID, Voters ID, resident permit/ Working permit/Work/Employment ID).
• Proof of residency (utility bill with account owner’s name).

Non-Citizen Tanzanian Diaspora

• National identification or Passport ID.
• Two passport size pictures.
• Certified Copy of (Driving License, Student ID, Voters ID, resident permit/ Working permit/Work/Employment ID).
• Proof of residency (utility bill with account owner’s name).

Under Serengeti Diaspora Banking, you can enjoy the below wide range of products.

1. Serengeti Diaspora Current Account

   A Personal Current Account designed for Diaspora customers that are either employed, self-employed, or students who wish to transfer funds easily and conveniently to family and friends. This account is also available for Diaspora customers that own or run a business registered and operating in Tanzania.

   Features

   • Can be opened and operated in TZS/USD/EURO/ GBP.
   • Minimum opening balance of TZS 100,000 or USD/EUR/GBP 100.
   • Worldwide accepted Exim MasterCard for convenient payments.
   • Access to the Online Banking platform for ease management of your account and perform transactions.
2. Serengeti Diaspora Savings Account

   A Savings Account that allows customers to conveniently save money back at home.

   Key Features & Benefits:

   • Can be opened and operated in TZS/USD/EURO/ GBP.
   • Minimum opening balance of TZS 100,000 or USD/EUR/GBP 100.
   • Access to our Online Banking Solution for ease access to your account.
   • Earns interest on deposits products up to 5% for TZS and 1% for USD/EUR/GBP.
   • No monthly maintenance fees.
3. Serengeti Diaspora Mortgage Financing

   Get Mortgage Financing Solution under Exim Nyumba Yangu Loan products.

   1. Home Purchase Loan
      • The product offers customers an opportunity of purchasing/buying a residential property either for own use or for rental purposes.
      • The Bank will finance the customer 80% of the loan amount while the customer will be required to pay 20% of the purchase price to make it 100%.
      • Transfer of rights of ownership is done before the disbursement of the funds to the seller & title presented to bank must be in customer’s name.
   2. Equity Release
      • A facility given to a customer with either an existing mortgage loan or wishes to get top up amount on the appreciated property or to a customer who have already invested their own cash to build a residential property and wishes to pledge their property to release the capital tied up.
      • The LTV for unmortgaged properties is 80%.
   3. Buy-off an existing home loan/ Mortgage Refinancing
      • A facility offered to borrowers with an existing mortgage loan and wishes to move the facility to Exim Bank and enjoy better and affordable terms and services financed by another financial institution.
      • Get an LTV up to 80%.

      Key Features & Benefits:

      • Minimum loan amount of TSH 30,000,000.
      • Maximum loan amount of TSH 500,000,000.
      • Maximum loan repayment period of 180 months.
      • Loans are sanctioned in the fastest possible time frame.
      • Loans can be taken over also for beneficial terms and conditions.
      • No hidden charges.

      Eligibility and Requirements:

      • Applicants should be between 21 and 58 years of age.
      • In case of insufficient net income, joint income with applicant's spouse consent is permissible.
      • The property and life of the applicant must be insured.
      • Property valuation must be done by Exim Bank approved valuers.
      • Loan is available to salaried employees and businesspersons.
4. Cash Cover Loans

   These are term loans or overdraft granted by the bank against a deposit account. You can access loans up to 90% of the deposit amount.

   Features & Benefits:

   • Minimum loan amount is TZS 1 million.
   • Maximum loan amount is 90% of the deposit amount, up to 60months.
   • Repayment is by equal monthly installments for Term Loan and on the agreed interest payment for Overdraft throughout the loan period.

   Eligibility and Requirements:

   • Maintain a deposit account with us.
   • Completed application letter with a colored passport size photo.
   • Copy of ID (Passport, Voter's ID, National ID, Driving License, Zanzibar ID).
5. Other Investment Solutions that the Diaspora can enjoy Exim Fixed Deposits

   Save for short- or long-term goals by getting the most out of your money with competitive interest rates. The terms range from one month to four years. The best part is you get to decide based off your goals. The longer the period, the higher the returns.

   Features & Benefits:

   • Our Fixed Deposits are available in TSH, USD, GBP, and EUROS.
   • With a low opening balance of TSH 1,000,000 or USD/GBP/Euro 500, you can choose to open several Fixed Deposits or pool your surplus funds into one.
   • Our highly advanced security systems will keep your money safe 24 hours a day, 7 days a week.
6. Haba na Haba Plus Account

   Haba na Haba Plus Account facilitates the need of customers who want to save money for use in the future. This product is meant to plug the gap of pure saving. This is Plus version of the Haba na Haba Account aimed for High-Net-worth customers who are being rewarded with higher interest rates.

   Features & Benefits;

   • Credit Interest of 7% per annum (accrued on daily balances).
   • A minimum deposits balance of Tzs 10,000,000.
   • Zero monthly maintenance fee.
   • Dedicated service at all our branches.
   • Value-for-money with a spectrum of value-added services from our dedicated Relationship Managers.
7. Nyota Savings Account

   Children are the future of our world and securing their future is the best gift we can give them. Nyota Junior Savings Plan is a tailor-made investment designed to give your child the brighter tomorrow you have dreamed of.

   Features & Benefits:

   • Monthly saving: Invest / deposit a fixed, small amount* every month in the name of your child *(Minimum balance – TSH 10,000).
   • Specific term: Make deposits for a period of 1 year in both TSH and USD and earn competitive interest.
   • End-of-term benefits: Healthy accumulated sum with interest.
   • Gifts: These deposits units can be gifted to child relatives.