Mortgage loan is a secured loan, in which property is used as collateral. The borrower enters into an agreement with the lender (usually a bank) wherein the borrower receives cash upfront then makes payments over a set time span until he pays back the lender in full. This product is offered to contractual/permanent employees of government as well as private institutions and business owners. We offer 3 types mortgage loan: 

  • Purchase –This applies to all customers who would like to buy houses/apartment, where by the bank will finance up to 90% of the selling price
  • Refinance/equity release  -customer who owns a complete titled property and would like to get cash release from their property to invest in other legal activities
  • Semi finish -This is the loan whereby we help people to finish up their houses , start financing from linter stage; the money will be disbursed in two stages that is Roofing and Finishing


  • For employed and self employed 
  • It require 10% of the selling price 
  • Debt service Ration should not exceed 50% 
  • Competitive interest rate 17% in TZS and 9% USD  
  • The maximum loan period is 15 years 
  • Minimum loan amount is TZS 10Mill. and Max is 700mill.
  • Flexibility in term of reduction of the loan 
  • Joint application is allowed 

To calculate your repayment plan use our Loan Calculator.

What you need to have Mortgage loan?

  • Copy of your 3 current pay slip/ proof of income – 
  • Proof of identification – ID of Borrowers – in case of Individual 
  • Certified copies of 3 months personal bank statements (if new client)
  • A letter of reference from your employer that the will channel of salary/ income 
  • Employment contract letter and application has any pending loan 
  • Certified copy of title Deed (to facilitate property valuation)

Benefits of Mortgage loan

  • You could utilize the value in your existing property to do alterations and home Improvement 
  • Ability to meet your personal needs 
  • You will be able to finish your house within short period of time 
  • Opportunity to purchase your dream house 
  • The loan is insured against death and permanent disability
  • Early liquidation is allowed no penalties for this

For more assistance, please visit your nearest NMB branch or call our toll free number – 0800 002 002