{"id":110868,"date":"2024-05-22T18:54:48","date_gmt":"2024-05-22T18:54:48","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/all-news\/ecobank-offers-12pc-interest-rate-loans"},"modified":"2024-05-22T20:49:46","modified_gmt":"2024-05-22T20:49:46","slug":"ecobank-offers-12pc-interest-rate-loans","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/ecobank-offers-12pc-interest-rate-loans","title":{"rendered":"Ecobank offers 12pc interest rate loans"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Tanzania. <\/strong><\/span><b>TANZANIA:<\/b> ECOBANK Tanzania is offering a 12 per cent interest rate loan to civil servants to enable them to access affordable credits.<\/p>\n<p>Ecobank Tanzania\u2019s Managing Director Dr Charles Asiedu further said civil servants are allowed to borrow up to 125m\/- at ago in a repayment period of seven years.<\/p>\n<p>\u201cNow is the time for us to extend our services to the public servants to enable them maximising their income capacity,\u201d said Dr Asiedu.<\/p>\n<p>Through this, public employees do not need to present and asset as a security to access a loan, but rather the status of being employed within government institutions and once everything is completed, the loan will be processed in 24 hours.<\/p>\n<p>Eco\u2019s Head of Consumer Banking Ms Ruth Mwaiselage said apart from the affordable interest, the borrower\u2019s account will not have monthly charges and also loans offered have life insurance.<\/p>\n<p>\u201cAll of our loans are insured to protect the borrower when is faced with various challenges such as death, permanent disability and possibly dismissed from employment,\u201d she said.<\/p>\n<p>She added that to the customers who have loans from other financial institutions, the lender buys their loans and gives them the chance to restructure and top up the amount to meet their life goals.<\/p>\n<p>The bank in 2020 had a non performing loans (NPLs) ratio of 38 per cent and registered a loss of 11bn\/-, but in the following year, the lender dropped the ratio to 7.7 per cent mostly through write-offs to clean their book.<\/p>\n<p>In 2022, the NPLs ratio dropped to 5.0 per cent and last year to a further 2.7 per cent, signifies the positive growth of the bank.<\/p>\n<p>Ecobank Tanzania, a subsidiary of Ecobank group, has five branches in the country in Dar es Salaam, Arusha, and Mwanza with seven ATMs and more than 700 agents.<\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/tanzania\">Tanzania<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Tanzania. TANZANIA: ECOBANK Tanzania is offering a 12 per cent interest rate loan to civil servants to enable them to access affordable credits. Ecobank Tanzania\u2019s Managing Director Dr Charles Asiedu further said civil servants are allowed to borrow up to 125m\/- at ago in a repayment period of seven years. \u201cNow is the [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":110867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6990,6991,711],"class_list":["post-110868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Ecobank offers 12pc interest rate loans - Tanzania<\/title>\n<meta name=\"description\" content=\"TANZANIA: ECOBANK Tanzania is offering a 12 per cent interest rate loan to civil servants to enable them to acces ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ecobank-offers-12pc-interest-rate-loans\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ecobank offers 12pc interest rate loans\" \/>\n<meta property=\"og:description\" content=\"TANZANIA: ECOBANK Tanzania is offering a 12 per cent interest rate loan to civil servants to enable them to acces ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ecobank-offers-12pc-interest-rate-loans\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-22T18:54:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-22T20:49:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/05\/sm_1716393114.644126.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"405\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ecobank-offers-12pc-interest-rate-loans#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ecobank-offers-12pc-interest-rate-loans\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Ecobank offers 12pc interest rate loans\",\"datePublished\":\"2024-05-22T18:54:48+00:00\",\"dateModified\":\"2024-05-22T20:49:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ecobank-offers-12pc-interest-rate-loans\"},\"wordCount\":316,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ecobank-offers-12pc-interest-rate-loans#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2024\/05\/sm_1716393114.644126.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ecobank-offers-12pc-interest-rate-loans#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ecobank-offers-12pc-interest-rate-loans\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/ecobank-offers-12pc-interest-rate-loans\",\"name\":\"Ecobank offers 12pc interest rate loans - 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