Express Credit

Purpose

Express Credit is designed to provide the Bank’s customers with quick access to loans. This product allows a wide range of flexibility and could be used for business, agriculture or consumption purposes.

Quick Facts

  Minimum loan size

TJS 900 / USD 100

  Maximum loan size

TJS 450,000 / USD 50,000

  Minimum loan term

  • Working capital: 3 months

  • Acquisition of fixed assets: 6 months

  Maximum loan term

  • Working capital: 24 months

  • Acquisition of fixed assets: 48 months

  Guarantor

Not required

  Collateral

Gold, coverage ratio – 110%

  Grace period

  (only principal amount)

  • Working capital: 2 months

  • Acquisition of fixed assets: 4 months

  Currency

TJS and USD

  Interest rates in TJS

  28% - 35% Interest rates are stated annually                  

  Interest rate in USD

18% - 25% Interest rates are stated annually

  Early closure

Allowed with the condition to formally report but no penalties as per the NBT requirements.

How to Apply

Interested clients should consult with the nearest branch or banking service centre.

Clients should bring with them the following documents:

• Copy of a valid passport;

• Tax Identification Number (TIN);

• Two recent passport size color photos;

• Loan utilization/investment plan;

• Patent or business license (if appropriate);

• List of gold items pledged as collateral; 

• Certification of gold quality inspection.

Benefits

• Quick Access to funds, within 1 day of application (if all necessary documentation is provided on time) 

• Attractive interest rates with the potential for further discount if the customer opens an FMFB deposit account and services their loan through it

• Generous grace period to provide sufficient time for procurement of working capital or purchase and installation of fixed assets

• Transparent and collaborative loan application process that is rooted in integrity and customer protection principles