The product named “Nyumba Yangu Loan’’ offers a fantastic interest rate of 15% per annum to all new applications for new house loans for the next 90 days, according to Exim Bank Head, Retail and SME Assets Mr. Charles Kapufi.
Speaking during the campaign launch held in Dar es Salaam on Monday, Mr. Kapufi, said through the product customers will be rewarded with the right loan at the right cost.
“Buying a house could be a single most important investment decision for many first-time home buyers but could mean something different to those buying their next homes. That is why our approach to home purchases loans and equity release by refinancing a self-owned house is not that of one-size-fits-all.’’ He said.
He said the product, will further assist current home owners who have existing mortgage loans elsewhere replacing their high-interest payment with low rates and favorable loan tenor.
“And the story does not just end there, for those whose houses have increased in value because of price appreciation or quality improvements done on the property, we are better placed to help them convert the value in their houses into cash through a cash-out mortgage loan. Upon which they can use the monies advanced to buy the next home, upgrade the property with the landscape, new paint, new roof, set up an additional saving or put the money towards long-term investment.’’ He said.
As part of a development ecosystem, the bank is committed to taking a front seat in providing a valuable opportunity to potential and existing home owners, the right change and growth in their livelihoods by providing them with affordable loan terms, according to Mr. Kapufi.
“It’ is our belief that, this will surely be achieved by advising and serving our customers as part of our family, as we help them in every stage of the loan application process, in friendly easy steps. A perfect home needs a perfect financial partner, welcome and let’s prosper together through Nyumba Yangu Loan’’. He proudly said.
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