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