Fees, Charges and Loan Terms

1. Our loans at a glance

The table shows the amounts and repayment periods for each loan. Your exact rate, fees and repayment schedule are confirmed in writing before you sign your loan agreement.

2. How interest is worked out

[To be confirmed: interest computation method, for example reducing balance or flat rate, and how often interest is charged]

The effective annual rate shows the full yearly cost of a loan, including interest and all fees, so you can compare loans fairly.

3. Fees and charges

• Application or processing fee: [To be confirmed: amount or percentage, and when it is paid]
• Insurance or credit life cover required with a loan, if any: [To be confirmed: details]
• Late payment charges: [To be confirmed: how late payment charges are calculated]
• Early settlement: you can repay your loan early with no early settlement fee.
• Any other charge: [To be confirmed: list every other fee, or confirm there are none]

We do not charge any fee that is not set out here and in your loan agreement.

4. Example repayment schedule

[To be confirmed: a worked example: loan amount, period, instalment amount, total interest, total fees and total repaid]

5. Before you sign

• We give you the loan terms, total cost and repayment schedule in writing before you sign.
• Ask us to explain anything you do not understand, in English or Kiswahili.
• Loans are processed within 24 hours once we have all the required documents.
• Collateral and guarantor requirements depend on the product and amount: [To be confirmed: summary of collateral and guarantor requirements]

6. Questions or complaints

Call +255 740 200 711, email info@greenlifemicrofinance.co.tz or visit any branch. If you are unhappy with our answer, see our Complaints Procedure.