LBF Loan

The LBF Loan (Gari Lako Mkopo Wako) is a loan that is secured against the value of your car. This loan can be used for any purpose and is ideal for people looking to expand their business, paying school fees, rent paying, house maintenance or supplement the working capital cash flow deficits.

Loan details

Maximum Loan Amount
1,000,000 - 30,000,000 TZS
Term
3 - 18 months
Interest Rates
3.5%
Funds paid into your account
Loan paid within 48 hours
Installment Payment
Monthly basis

Loan details

Maximum Loan Amount
1,000,000 - 30,000,000 TZS
Term
3 - 18 months
Interest Rates
3.5%
Application Process
-
Funds paid into your account
Loan paid within 48 hours
Repayment Frequency
Monthly basis
Fees and Charges
-

Is the loan product that offers short to medium term loans whereby a person borrowing the funds must provide the lender with a security interest in the assets, where in the person borrows, pledging an asset (in this case Motor Vehicle) against the debt.

 If the loan is not repaid, the lender may seize the asset (in this case Motor vehicle) that was wagered against the debt.

All Log Book Loans are subjected to a loan appraisal process. Once a loan has been approved the loan will be disbursed within 48 hours.

Loan qualifiers

Anyone who owns a motor vehicle ( Car ), has a legally known source of income and has reached a maturity age of 18+ years.

Qualifying Motor vehicle for logbook loan

All Motor vehicles that meet company’s criteria except Heavy Duty vehicles

Loan Application Requirements

  • Copy of national ID.
  • Copy of driving license
  • Letter from the local Government
  • Certified Bank statements for the last six months/mobile transaction (Tigo pesa, Mpesa, Air tell money, Halopesa, Tpesa etc)
  • Two recent colored passport size photos
  • Original Vehicle registration card
  • Valid Comprehensive Insurance cover.
  • Copy of the next of Kin National ID
  • Copy of TIN Certificate (For business owners only).
  • Valid business license (For Business owners only)
  • Latest 3 months pay slips (For Employees Only)
  • Copy of employment contract (For Employees Only)