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, business owners and Diaspora Citizens. We offer 4 types mortgage loans:

  • 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. The Minimum loan amount is TZS 10Mill. and Max is 700mill.
  • 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 The Minimum loan amount is TZS 10Mill. and Max is 700mill.
  • Semi finish -This is the loan whereby we help people to finish up their houses, that have reached on linter stage; the money will be disbursed in two stages that is Roofing and Finishing. The Minimum loan amount is TZS 10Mill. and Max is 700mill.
  • NMB Construction Mortgage: Give your ability to construct your own home to match your preference.  In this case the bank pays the customers as work is being complete then that cost is converted to a Mortgage at completion of the house. The construction amount is to given in five stages as per BOQ. The Minimum loan amount is TZS 10Mill. and Max is 200mill.


  • For employed and self employed 
  • It requires 10% of the selling price for those purchasing houses
  • Debt service Ration should not exceed 50% 
  • Competitive interest rate 17%
  • The maximum loan period is 15 years 
  • 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
  • It allows for flexibility of design

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