Agriculture Loans

Purpose

Agricultural Loans are specifically meant for farmers (Dehkan farmers entities) for growing crops, livestock rearing, processing, storing or marketing agricultural produce. Female borrowers engaged in agricultural activities are highly encouraged.

The loan amount can be used for acquisition of crops, seeds, fixed assets and working capital needs for mature farming businesses.

It should be noted that trading of agricultural produce alone is not considered an agricultural activity.

Quick Facts

  Minimum loan size

TJS 100

  Maximum loan size

TJS 250 000

  Minimum loan term

1 month

  Maximum loan term

36 months

  Guarantor

Guarantor is required for loans above TJS 5,000

  Collateral

Required for loans above TJS 5,000

  Grace period

  (only principal amount)

Up to 9 months depending on the intended use of the loan

  Currency

The product is offered in TJS only to protect farmers from currency risk

  Interest rates in TJS

  29% -35%      Interest rates are stated annually                   

  Early closure

Allowed with the condition to formally report but no penalties

How to Apply

Interested clients should consult with the nearest branch or banking service centre.

Clients should bring with them the following documents:

 Copy of a valid passport;
 Tax Identification Number (TIN);
 Two recent passport size color photos;
 Loan utilization/investment plan;
 Copy of a valid passport of the guarantor (if applicable);
 Tax Identification of Guarantor (if applicable);
 Certificate of state registration or other appropriate document.

Benefits

 Long loan maturity term and grace period supports farmers with handling the seasonality of agricultural activities by providing sufficient time to procure agricultural machinery/ equipment and engage in crop rotation 
 Attractive interest rates with the potential for further discount if the customer opens an FMFB deposit account and services their loan through it
 Transparent and collaborative loan application process that is rooted in integrity and customer protection principles