Wastaafu Loan

  • It is a special Loan for the government retirees who channel their pension at Mwalimu bank.
  • Min period = 3 months
  • Maximum period = 60 months based on amount and ability to pay
  • Minimum loan shall be TZS 300,000/= and
  • Maximum unsecured amount of up to TZS 30,000,000/= for retirees who will route their monthly pensions via Mwalimu bank
  • Maximum secured amount is up to 80% of amount fixed with Mwalimu bank as cash – cover
  • Lower interest rate
  • Credit life insurance cover for customer up to age 70
  • Loan access and free consultation from bank professional experts