Whether you have a sudden expense or simply need money, a personal loan can give you the resources you need to make the impossible possible. Explore our bond-secured overdraft, executive loan, or a cash-securd overdaft.
Bond secured overdraft
- Overdraft limit of up to 90% on government issued bonds of any value
- Tenor goes up to 1 year (12 months) with the option of rolling over on maturity of loan
- No insurance fee is charged on the facility
Requirements
- Your bond should still have a maturity period equal to or longer than one year and cannot be matured
Executive Loan
Benefits
- Short-term loan tenor of up to 6 years
- Borrow up to TZS400 million
- No insurance fee is charged
Requirements
- You must be a Prestige or Premier customer with Absa
- Security must be pledged to the bank before the loan is issued
- Secure the loan with either an FDR, government bond or a property
- Flexible and affordable monthly repayments through an automated STO
Cash secured overdraft
Benefits
- Interest rate of 13-14%
- Open an FDR (fixed deposit) account with Absa and we can assign an overdraft limit of up to of 90% of the security pledged as a limit.
- No insurance fee is charged
- Limit is assigned for a period of 12 months with an option to renew or extend before expiry
Requirements
- You must have an FDR with the bank (this can either be in local currency or foreign currency)
- You must operate a transactional account with Absa
- Deposit should be made for specified period that matches tenor of overdraft
Need more help?
Call us:
0800750078 (Toll free)
+255 (0)746 882 000 (Network charges apply)
Email us:
