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Watu is one of the best companies for boda boda loans in Tanzania. You only require down payment of Tsh 400,000 to get the loan. Approval is within 24 hours.
Brands available are:
- Bajaj
- Hero
- TVS
Requirements for the loan
- One of the following: National ID (NIDA), Voter ID or Driving License
- A minimum down payment of Tshs 400,000
- Original TIN certificate
- Introduction letter from the local government
- One guarantor over the age of 20 with an original ID
- The borrower must be accompanied by a guardian if they are below the age of 20
The loan duration is 8 to 15 months. This means that you have to repay within 15 months.But if you are using the boda boda well, you will even pay within 8 months.
You can make these payments via M-PESA, Tigo Pesa and Airtel Money to the Paybill number 650880 provided. No cash payments are accepted.
he official Watu Paybill number for weekly payments is 650880 through M-PESA, Tigo Pesa and Airtel Money. No cash payments are accepted
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