NMB Car loan is designed specifically for employees with regular salary and permanent employment terms. Through this scheme NMB is assisting you to own a car without taking time to accumulate funds for purchasing a car.

Features of Car loan:

• For Used cars 
  • You can get a maximum loan amount of TZS 70 million
  • 25% down payment is required
  • Flexible on repayment term which varies from 1 year to 5 years
  • Affordable Interest rate is charged on outstanding principal balance
  • The loan is insured in case of death or permanent disability
• For brand new cars
  • You can get a maximum loan amount of  TZS 100 million
  • 15% down payment is required
  • Repayment term varies from 1 year to 5 years 
  • Affordable Interest rate is charged on outstanding principal balance
  • The loan is insured in case of death or permanent disability

To calculate your repayment plan use our Loan Calculator.

What you need to have Car loan

• Channeling your salary through NMB account
• Proforma invoice showing car price from approved dealers
• Proof of down payment in your account

Benefits of Car loan

• Ability to own a car with few savings
• Flexible repayment terms from 12 to 60 Months
• You can apply through any of our branches countrywide
• Affordable interest rate charged at reducing balance method
• The loan is insured against death and permanent disability
• NMB Car loan allows you to buy a vital means of transportation without saving up the whole purchase price
• ahead of time 

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