Faidika, a Financial Services firm has launched a new product dubbed ‘Executive Loan’ which aims at providing up to 30m/- unsecured credit to government employees.
Faidika Chief Executive Officer, Ms Marion Moore, told a news conference in Dar es Salaam that the Executive Loan product was one of the products to be used to facilitate the disbursement of loans to government employees.
“Our Executive Loan Product is a first of its kind from FAIDIKA to be introduced in the Tanzanian market and will enable many government employees to have access to higher funding to upgrade their standard of living by engaging in larger projects.
“The loans have disbursement starting from 10m/- up to 30m/- and repayment between six to sixty months,” said Ms Moore.
“Executive Loan Product is tailor made for the Tanzanian market as the applicant doesn’t need to produce any collateral or security to get a loan and the loan is processed within 48 hours,” she noted.
FAIDIKA Regional Sales Manager, Mr Haule Stephen, said an applicant needed to provide two salary slips for the last two months, banking statement for the last two months, an identity card and one passport size photo to be able to qualify for a loan.
“Our intention is to see the living standard of Tanzanians is upgraded through easily accessible financial inclusion,” said Mr Stephen.
Originally published on DailyNews Tanzania
