Laina Finance

Personal loans range from Tsh 5000 to Tsh 5,000,000
Conventional Loan
Tenure: 3 months to 12 months. Interest rates range from 3.5% reducing balance and fees from 13.5% to 25% of the product amount.

Example: If the loan amount is Tsh 100,000 & interest is 25.98% per annum with a tenure of 12 months, the interest would be Tsh 25,985. The EMI per month would be Tsh 11,120. This would translate to a maximum APR of 46.5%. The total cost of the loan will be Tsh 46,500. The total amount paid back including everything at the end of the term will be Tsh 146,500.00.

Under Islamic contract (Sharia)
Tenure: 6 months to 12 months. Profit charged ranges from 39% to 49% of the product amount.

Example: If the product value is Tsh 100,000, the profit is 49% per annum for a tenure of 12 months, the profit would be Tsh 49,000. The EMI per month would be Tsh 10,333. This would translate to a maximum APR of 49%. The total cost of the loan will be Tsh 49,000. The total amount paid back including everything at the end of the term will be Tsh 149,000.00.