CRDB Steps into the Mortgage Market!

Our Underdeveloped Mortgage market in Tanzania just got a Knock from CRDB! Tanzania's Biggest Bank..

Jijenge, a new house loan scheme to be repaid within a period of up to 20 years, unlike the bank's previous house loan schemes that could only be repaid in a period not exceeding five years.
The interest rate for Jijenge is 18 per cent plus one per cent insurance cover for death or injury that would stop the borrower from repaying the loan. Potential borrowers must prove a basic monthly salary of no less than 80 per cent of the total house cost, as per the Tanzania Mortgage Regulation Act of  of 2011