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Malkia Proposition

Overview

CRDB Malkia proposition is a package of existing bank products and services bundled together and tailored at enhancing women access to finance and non-financial services. The proposition offers competitive financial solutions to women in order to enhance the onboarding of women to the Bank.

Women are incredible financial managers. They can manage businesses better when empowered. Malkia Proposition specifically targets female entrepreneurs and professional women to assist them to build sustainable businesses and careers by providing them conception interest rates, effortless requirements, and trouble-free Terms and Conditions.

1. MSE Malkia

  • Caters for both registered and unregistered business;
  • The loan type includes working capital, investment loan, and asset financing;
  • The loan amount is up to TZS. 50Million;
  • Competitive and affordable interest rate of 14%;
  • Repayment period of up to 24 months
  • Flexible collateral requirements;
  • No application fee required
  • Minimum six (6) months business experience 
  • Term loan

2. SME Malkia

  • Caters for registered business;
  • Loan type including working capital, investment loan, and asset financing.
  • Loan amount from Above TZS. 50Million up to TZS.3 Billion;
  • The competitive and affordable interest rate of 14% for loans up to TZS. 100Million and 17% for loan amount above TZS.100 Million;
  • Repayment period of up to 60 months depending on the loan type
  • Flexible collateral requirements;
  • No application fee is required;

3. Retail Agribusiness

  • Caters for both registered and unregistered business;
  • Loan type includes working capital, investment loan, and asset financing;
  • Loan amount of up to TZS. 200- 3BLN BN; 
  • The competitive and affordable interest rate of 14% for loans up to TZS. 100Mn and 17% for loan amount above TZS.100Mn both on reducing basis;
  • Repayment period of up to 60 months depending on loan type;
  • Flexible collateral requirements;
  • No application fee is required;
  • Minimum six (6) months business experience;
  • Flexible loan repayment schedule according to business needs.

Who are eligible borrowers?

  • Women with registered or unregistered business
  • The borrower must be a woman age 18 to 70 years
  • Must have an existing business for at least for 6 Months
  • Must own business at least by 50% or more
  • Must be active in business not merely having a share

What are the required business documents?

  • Registered
    • Business License
    • Tin Certificate
  • Unregistered 
    • Machinga ID
    • Soko letter
    • Local business permits


FAQs

Interest rate - A loan of up to TZS 100MLN is 14% - A loan of above TZS 100MLN is 17% Other Fees - Application Fee – Zero - Facility Fee – 2% - Insurance fees – 1% - Collateral cover fees – 1.8% Legal documentation: - Malkia MSE – 0.5% - Malkia SME – 0.3% maximum TZS. 560,000 - Malkia Agri – 0.3% maximum TZS. 560,000

Collateral Coverage i. Minimum 50% of loan exposure Acceptable Collateral ii. Finished and unfinished properties (with at least a roof) iii. Title deed (80%) iv. Residential license (80%) v. Customary right of occupancy (80%) vi. Sales Agreement (50%) Max 50MLN vii. Lien over the deposit – up to 90% of deposits viii. Treasury Bond & Bills – up to 80%

Respective procedure for MSE, SME and Agribusiness shall apply. MSE procedure has already been updated to incorporate MSE Malkia. We are currently in the process of reviewing SME & Retail Agribusiness procedures and the same shall apply.

NO, Malkia account is not a mandatory requirement. It is an investment account when a customer wants to save funds for a specific purpose. At the application point, we expect customers to have Bidii account, Fahari Kilimo, MSE account when ready or personal account.

Yes, existing customers can renewal through the new Malkia proposition, new terms and conditions shall apply.

- Acceptance of SOKO Letter, Local Business permits and Machinga ID for loans up to TZS 5 MLN - Interest rate 14% up to TZS 100 MLN - Interest rate 17% above TZS 100 MLN - 50% Collateral for loans supported with a Guarantee cover - Third part collateral acceptable to all collaterals except properties with the sales agreement

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