List of Best School Fees Loans in Tanzania

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If you want the best school fees loans for your high school, college or university in Tanzania, you can get from the following institutions:

—-FINCA Tanzania

School Fees Loan

Let us invest in yours or child’s educational – get yourself a School fees boost of up to TZS 10,000,000/= and complete your or their studies.

Freedom to choose a repayment schedule in a period of up to 36 Months
Repayments are made according to the periods of school fees
Parent or guardian should have source of income
This product is accessible to those from Primary level to University level
The school fees shall be paid directly to the school or institute
The Loan you will get depends on the amount of Savings within Mipango account

—Enterprise Finance Ltd

Loans For School Fees

Features and Benefits

Quick and convenient.
Highly flexible and affordable.
Does not restrict you from taking business loan.
Very easy to access with flexible collateral.

Key Requirements

Have a steady source of income that is
verifiable.
Have valid identification.
Have a working current or savings bank account.
Have an adequate collateral (chattel, motor vehicles, land title deeds etc.)

—Radiance Finance

School Fees Loan

Loan Features:

Minimum loan amount 2,000,000.
The maximum loan amounts up to 25,000,000.
Maximum repayment period up to 6 Months.
An interest rate of 5% Monthly.
Monthly installment

—-NewFortis Sacco

School Fees Loan

Description

Amount granted depends on the ability to pay.
Granted on daily basis.
Repayable within 12 months.
Secured by 4 guarantors.
Interest rate 0.54% per month.
No supporting documents.

—–Amana Bank

Elimu Financing

Features

Sharia Compliant financing arrangement
Financing courses that are acceptable by sharia.
Facilities are issued for students attending local or overseas academic institutions.
Flexible and reasonable repayment periods.
The financing amount will depend on customer’s ability to pay and security arrangement.
Flexible collateral arrangement.
Maximum payment period of up to 12 months.
No hidden charges.

Benefits

Sharia Compliant Solution for those who desire to avoid interest-based loans.
Will help academic institutions (schools and universities) to increase enrollment.
Will help academic institutions (schools and universities) to collect education fees (fee, meals and accommodation) timely.
Will help parents to pay education fees on flexible installments.
Will help students to study the program(courses) of their choice.

Requirements

For Elimu financing to work, there must be a Memorandum of Understanding (MoU) between Amana Bank and the respective academic institutions.
The applicant should have account with Amana Bank.

—-Tanzania Revenue Authority

Student’s Financing

Students’ Financing

Students’ financing at ITA has various range of sources.

1. Private

2. Higher Education Students Loan Board ( HESLB)

The loans are applied through the Online Loan Application System (OLAS).

Accordingly, all Tanzanian students who have/will have admission at ITA are strongly advised to utilize such a privilege.

3. Zanzibar Higher Education Loan Board ( ZHESLB)

4. Government Ministries and Agencies.

5. Other organization such as Religions, Charitable Organizations, etc.

—–Bank of Baroda

Education Loans For Students Going Abroad

Benefits

Students who have been admitted to various general and professional courses viz.
Graduate course in the Faculties of Arts, Science, Commerce, Economics and other Social Science.
Professional courses like Engineering, Technology, Medicine, Agriculture, etc.
Post-Graduate courses in the Faculties of Arts, Science, Commerce, Economics, Engineering and other Social Sciences, Business / Industrial Management in various fields and course conducted by a professional body recognized by the Republic of Tanzania.

Interest Rates & Charges

Loan up to Tsh. 2.0Mn	Prime Lending Rate
Above Tsh.2 .0Mn and up to Tsh.4.0Mn	1% over PLR
Above Tsh 4.0Mn	2% over PLR
or as negotiated with the borrowers at the time of sanction.

Terms and conditions

Complete academic record of the student to be obtained.
Confirmation of admission from university/Institution to be obtained.
Disbursement of loan should be made as far as possible directly to the university/educational institution, term wise after assessing the requirements for each term.
Interest on the loan to be recovered as and when applied.
Collateral security may be insisted upon over and above personal guarantee from parent/guardian.
Processing fee to be recovered.

Undertaking from the student that he/she will inform bank about the status of employment, change of address

You can also get a student loan from the higher Education Loans Board

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