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NMB Reviews Interest Rates, comes with a total loan solution for its customers.

 Lowers Loan Interest rates to 17 Percent, amount up to TZS 150 Million paid in 6
 Introduces a take-over of loans from Higher Education Students’ Loan Board
and other banks.

Dar es Salaam, May 25, 2018… NMB Bank Plc ‘NMB’ has announced the reduction of its loan
interest rates from 19 percent to 17 percent for salaried workers loans aiming at attracting
more customers to access its loan facilities.

NMB Bank - the largest bank in the number of customers, profitability and branch network
has lowered the rates to 17 percent down from 19 percent for both public and private sector

NMB Bank’s minimum loan remains at TZS 200,000 and the maximum one can take up to TZS
150 Million depending on one’s salary and only takes 24 hours for loan processing until a
customer receives the loan.

Speaking in Dar es Salaam, The NMB Bank’s Managing Director – Ineke Bussemaker said the
bank has taken broad steps towards creating a solution for workers whose salary goes
through their NMB Accounts.

“For a long time, customers have been asking for the reduction of interest rates, we have
now approved a huge reduction of interest rates that comes with best offers including a free
processing fee for 6 weeks from today” said Ms Bussemaker.

Ms Bussemaker said customers feedback is very important to the bank and apart from the
reduction of interest rates, the bank has also extended the repayment period from a
maximum of 60 Months to 72 Months (5 years to 6 years) for employees from private and
civil servants.

“We remain committed to providing innovative affordable and convenient financial solutions
that will continue to expand customer’s opportunities,” said Ms Bussemaker.
The bank announced that its personal loans will now be available at an interest rate of 17
percent down from 19 percent for both public servant and private sector employees.

“With these additions, we now allow a takeover of the Higher Education Students’ Loan Board
(HESLB) facilities for those who still owe the loan board, we will take the burden by clearing
the loan and give them a longer repayment period.” Said Ms Bussemaker.

Most employees struggle to settle down their loans from HESLB, NMB Bank now is ready to
take over of Loan Board facilities and settle them at once and avoid penalties imporsed by loan

Other improvements made include: extension of the credit ratio from 50% to 60%, removal
of top up waiting period to anytime as long as the credit ratio allows and the qualifying age
extended to 60.

About NMB:

For more information, contact:

Joseline Kamuhanda, NMB Bank Plc Head of Communication & Corporate Affairs


NMB Bank PLC is Tanzania’s leading retail bank, both in customer base and branch network. With
over 2.8 Million customers, about 220 branches and over 800 ATM’s, NMB is represented in more
than 98 percent of Tanzania’s districts. NMB serves individuals, micro and small enterprises as
well as larger businesses. NMB has a strong financial record, based on years of strong and stable
performance. NMB is listed at the Dar Es Salaam Stock Exchange. NMB’s largest shareholders are
its strategic partners Rabobank with a 34.9% share and the Government of Tanzania with a 31.9%