Your Partner Bank

Overdrafts

Overdraft facility is a revolving borrowing facility repayable on demand, made available in connection with a current account. The customer can overdraw the current account when any entry is debited to the account for more than the available credit balance on it. The facility is valid for 12 months renewable.

Benefits

Assured liquidity/ cash flow position for daily obligations.

Flexible form of borrowing intended to finance day to day cash flow requirements generated by normal business activities

Minimized cost of borrowing as interest is charged on the overdrawn balance on a day to day basis.

Asset Financing:

Asset Financing Loan is a contract between the borrower and TIB CBL, whereby the bank grants a loan to the customer with a purpose of purchasing assets such as vehicle, earth moving equipment, heavy plants, plants and equipment for manufacturers, office equipment, constructions equipment. The facility is availed for a maximum period of 5 year.

Benefits

Self-secured facility.

Shorter facility processing process

Assured financial support for quicker and shorter business deals

Lump sum payment to finance acquisition of specific assets with affordable repayments to match with cash flow.

Contract Financing

Contract financing Loans are structured form of borrowing intended to finance execution of a specific transaction, usually specific contract and the funding requirements that this generates. The facility tenor is limited to the duration of the contract and should not exceed 5 years.

Benefits

Assured financial support for quicker business deals in hand.

Can also be self-secured facility.

Payable within short time period.

Short-term loans

These are short term Loans usually intended to finance specific short term capital transactions such as purchase of assets, expansion or short term increase in working capital of a business, or purchase of real estate etc. Mostly the loan is assigned to specific cash flow transaction.

Benefits

Shorter facility processing process

Payable within short time period i.e 12 months

Assured financial support for quick and short business deals

Medium term loans

Medium term Loans are term loans availed for a maximum period of 5 years. These are structured form of borrowing intended to finance specific transactions such as purchase of capital assets, expansion or long term increase in working capital of a business, or purchase of real estate etc.

Benefits

A longer tenor financing to release cash flow stretch

Assured financial support for business growth

Eligibility/Basic requirements

  1. Application letter
  2. Board resolution
  3. Memorandum and Articles of Association,
  4. Certificate of company registration/ Incorporation
  5. Valid Business license
  6. Recent annual returns
  7. TRA Tax clearance certificate
  8. VAT and TIN Certificates
  9. Business Plan
  10. Audited accounts for past 3 years
  11. Projections in line with borrowing tenor
  12. Security details
  13. Authorization to borrow from the parent Ministry (For Government Institutions).

Group Scheme Loan

We offer personal loans to monthly salaried employees of a reputable Government or Private company / institution.

The employer needs to be current or prospective customer of TIB CBL bank using TIB payroll system.

Employer should have a clearly signed arrangement with regards to collection of loan repayments.

Secured Personal Loan

Bank financing to facilitate business or any other personal investment such as; investment in government securities, purchase of shares listed in Dar es Salaam Stock Exchange (DSE), renovation of domestic house or business premises, purchase of small scale processing machine and other investment required.

Benefits

Flexible repayment tenor up to 48 months

Top up is allowed after agreed repayment time

Loan up to TZS 200M or USD equivalent

Short facility processing process

TIB CBL is well placed to offer a wide range of cash management solutions to support our clients business needs related to receipt and payment of funds, such products include

  1. Current/ Transactional accounts- A business transactional cheque account for daily business undertakings.
  2. Call accounts - A flexible investment accounts has no fixed deposit period, provides instant access to funds and allows unlimited withdrawals and deposits.
  3. Savings Accounts- A personal account that enables customer save money and earn interest.
  4. Fixed Deposit Account- An investment account in which money is deposited for an agreed period of time and attractive fixed interest rate is paid at the end of that period.
  5. Funds Transfer (SWIFT,TISS & EFT)- Enabling local and international transfer of money
  6. Cash collection (CIT/Teller Implant – Customized cash management solutions
  7. Electronic Banking Platform – Safe, convenient and quicker banking wherever you are.
  8. Mobile Banking Solutions (TIB Mobile) – Enabling banking in your fingertips and convenient payment of bills
  9. ATM Services- Access to over 250 Umoja ATM switch all over the country
  10. Check clearing services – Facilitating timely clearing of check and funding customers account.
  11. Jipange Plan Acounts

Jipange flex Account is a deposit Account that offers high returns. It enables proper planning by allowing one to save money and earn competitive interest rates. The account enables customers to have proper and rewarding saving behaviors and room to invest further in accumulated fund.

Benefits

Competitive interest rates on the fund.

No account maintenance fees

Available for both local and foreign currency ( TZS and USD)

Customer will be availed with a free cheque book as a unique feature

Customer can continue to accumulate deposit daily

The customer will have access to borrow against deposit at competitive interest.

Access to TIB Mobile wallet

Jipange fix Account is a deposit account that offers high returns on investments. It enables proper planning by allowing one to save money and earn competitive interest rates for the fund invested over specified time.

Benefits

Flexibility to choose from a wide range of tenor (1month, 3months, 6months,9months,12months& 24months)

Interest accrues on daily basis payable on the month end.

Customer will also maintain a normal savings account to be used to credit monthly interest.

The depositor will have access to borrow against deposit at competitive margin.

Attractive interest rates depending on the tenor

No account maintenance fees

Available for both local and foreign currency ( TZS and USD,)

Accessibility of interest in the event of early liquidation.

Free TIB CBL Umoja Switch ATM card

Jipange Toto Bank is a saving account that offers high returns. It enables proper planning by allowing one to save money and earn competitive interest rate. Overall the product is aimed at enabling parents/ guardians to save money for their children for intended future use i.e University fees, potential investment for children etc.

Benefits

The Parent/Guardian will have access to borrow against deposit at competitive interest.

Competitive interest rates to be earned on the fund.

No account maintenance fees.

Can deposit anytime through TIB CBL branch network of TPB Bank

Minimum account opening balance of TZS 50,000.00 and US20K

Available for both local and foreign currency ( TZS and USD)

Customer can continue to accumulate deposit daily

Available for children from birth date to 17yrs

Free money box for the kid.

Jipange Jamii Account is a current account with zero operating charges. The account is suitable to government institutions, schools, colleges, NGOs, VICOBA, SACCOS and religious institutions.

Benefits

No operating charges

Free cheque book

Free in house cheque clearance and deposit

No minimum account opening balances

Access to a wide range of banks products at competitive price for their staff

Can deposit through TIB CBL branch network of TPB Bank branches

Free monthly statements

Basic requirements to open account with TIB CBL

Company

  1. Memorandum and Articles of Association. (MEMARTS) Parliament Act.in under which the entity is created.
  2. Certificate of Incorporation
  3. Application letter.
  4. Tax Identification Number (TIN).
  5. Trading licence.
  6. Business Licence.
  7. Value Added Tax Certificate (VAT)
  8. Board resolution to open an account with TIB CBL, indicating list of authorized signatories, and signing Mandates.
  9. List of current Directors together with the latest annual return filed with the Registrar of Companies.
  10. Two (2) recent passport size photographs of each of the signatories.
  11. Letter of introduction from the lawyer for the company
  12. Introduction letter from recognise authority for all signatories.
  13. Valid and recognised identity card (eg. Passport, nationaI ID, driving licence)this applies to all types of account

Individuals

  1. Two (2) recent passport size photographs.
  2. Valid and recognised identity card (e.g. Passport National ID Driving license).
  3. Introduction letter from recognised authorities.
  4. Initial deposit.

Letters of Credit:

This is a written undertaking issued by bank, acting at the request and on instructions of its customer, the applicant for the credit, account party or buyer, in which the bank obligates itself to make payment to the beneficiary (seller of goods or services) up to a stated amount within a prescribed time limit and upon presentation of appropriate documents by the beneficiary that conform to terms and conditions set by the buyer and expressed in the Letter of Credit (LC).

Benefits

Safe import/ export transaction

Assurance on delivery and quality of good

Post import finance loan to cover the matured obligation (To be pre-arranged)

Assured to obtain desired goods

Bank Guarantees

Bid Guarantees: A guarantee by the bank on behalf of a customer to facilitate taking part in a tender.

Performance Guarantee: A Bank guarantee to the employer to guarantee the performance of the contract by the customer.

Advance payment guarantee: A Bank guarantee to the employer to secure advance funds to the client for project mobilization.

Retention Guarantee: A Bank guarantee issued to the employer to enable customer access retention funds of a contract from the employer.

Payment Guarantee: A Bank guarantee issued to the beneficiary to guarantee payment from a buyer.

Benefits

Customer gains confidence to employer

Minimized performance risk to Employer

Assured advance money for project execution

Assurance of payment.

Bill/Invoice Discounting

A working capital facility enabling advancing fund against certified/confirmed invoices or cheques

Benefit

Customer able to access fund once an invoice has been issued or against post-dated cheques.

Quick processing.

Bills Avalisation

The payment undertaking from the collecting bank to the presenting bank to secure the Payment from the Drawee

· Assist the customer to access the imported goods and trade in the market before the payment to the Supplier

Commodity Financing

Financing acquisition of stocks of crops and/or other commodities.

Benefit

Self-securing facility for commodity financing

Pre shipment Finance against export orders

Financing provided to an exporter who is in receipt of an export order(s) from importer

Benefit

Pre-shipment finance to purchase goods for exportation.

Documentary collection

TIB CBL facilitates handling of documents in accordance with instructions received in order to obtain payment and facilitate deliver of goods.

Benefits

Fast processing

Cheaper instrument

Eligibility/Basic requirements

Kindly refer to the criterion indicated under credit facilities section.

Our Treasury team comprises of highly qualified and professionally trained treasury dealers with a sound un derstand ing of how risk management instruments c an be su ccessfully a pplied to the needs of their clien ts. Our treasury professionals can best postulate the appropriate treasury solution requirements of the client in money markets and foreign exchange.

We offer a wide range of value-added treasury services such as money market and foreign exchange as well as and structured products to suit the financial market needs of our clients as well as being customer focused. These include.

Spot Foreign Exchange - This involves buying or selling foreign currencies, within two business days between the deal and the settlement date. TIB CBL Treasury also offers deals with same day (value today) or next-day value dates (value tomorrow) depending on the agreed terms of the deal.

Forward Foreign Exchange - Customers agree to buy or sell one currency against another at a predetermined future date and price, to help them hedge against foreign exchange risk.

Foreign Exchange Swaps - An agreement between two parties to exchange two currencies at a certain exchange rateat a certain time in the future. This eliminates the risk that the exchange rate will change in a way that is disadvantageous to one party or the other.

Primary Dealership in Government Securities- TIB is a licensed Primary Dealer of Treasury Bills and Treasury Bonds. As such, TIB can invest in these Government Securities on behalf of customers.

Market intelligence on major trends and developments in the local, regional and global financial markets

Daily SMS Updates on prices of major currencies against our local currency.

Benefit

Protection from trivial losses resulted by making inappropriate investment decisions

Competitive prices

Reliable investment advise.

The TIB CBL Premier Banking platform provide innovative solutions that offer choice, convenience, security, and affordability as part of our commitment to helping our deserving customers to get the most out of life with exciting services and products that are tailored to meet their financial needs

As such, we offer you a team of highly skilled professionals who are committed to supporting your success.

Benefits.

Dedicated relationship management.

Exclusive lounge for elite banking and private meeting room facility

Convenient banking via mobile/phone or email.

Complementary airport lounge access before taking off

Financial advisory solutions

Free access of premier banking privilege to family members i.e spouse and children

Doorstep delivery at office/home for non -cash items upon arrangement

Free wi-fi connection in the Lounge and meeting rooms

Special Premier Products.

Premium Insurance Advance - Enabling our premier customers pay different insurance premium obligations during the year. This includes but not limited to private motor vehicle, loss or damage to building, personal accidents, group life assurance, medical insurance and all other classes of property insurance

Motor Vehicle Loans - Enabling up to 90% financing of a new car with competitive terms

Unsecured Personal Term Loan – Quick financing for salaried people to enable meeting personal obligations of choice i.e medical, education, home improvement, plot purchase or any other.

Secured Personal Term Loan - Quick and convenient financing to facilitate business or any other personal investment i.e share purchase, investment in government securities

Secured and Unsecured Overdraft Facility – Quick financing provide premier customers with overdraft line to cover their personal commitments

Overdrafts

Overdraft facility is a revolving borrowing facility repayable on demand, made available in connection with a current account. The customer can overdraw the current account when any entry is debited to the account for more than the available credit balance on it. The facility is valid for 12 months renewable.

Benefits

Assured liquidity/ cash flow position for daily obligations.

Flexible form of borrowing intended to finance day to day cash flow requirements generated by normal business activities

Minimized cost of borrowing as interest is charged on the overdrawn balance on a day to day basis.

Asset Financing:

Asset Financing Loan is a contract between the borrower and TIB CBL, whereby the bank grants a loan to the customer with a purpose of purchasing assets such as vehicle, earth moving equipment, heavy plants, plants and equipment for manufacturers, office equipment, constructions equipment. The facility is availed for a maximum period of 5 year.

Benefits

Self-secured facility.

Shorter facility processing process

Assured financial support for quicker and shorter business deals

Lump sum payment to finance acquisition of specific assets with affordable repayments to match with cash flow.

Contract Financing

Contract financing Loans are structured form of borrowing intended to finance execution of a specific transaction, usually specific contract and the funding requirements that this generates. The facility tenor is limited to the duration of the contract and should not exceed 5 years.

Benefits

Assured financial support for quicker business deals in hand.

Can also be self-secured facility.

Payable within short time period.

Short-term loans

These are short term Loans usually intended to finance specific short term capital transactions such as purchase of assets, expansion or short term increase in working capital of a business, or purchase of real estate etc. Mostly the loan is assigned to specific cash flow transaction.

Benefits

Shorter facility processing process

Payable within short time period i.e 12 months

Assured financial support for quick and short business deals

Medium term loans

Medium term Loans are term loans availed for a maximum period of 5 years. These are structured form of borrowing intended to finance specific transactions such as purchase of capital assets, expansion or long term increase in working capital of a business, or purchase of real estate etc.

Benefits

A longer tenor financing to release cash flow stretch

Assured financial support for business growth

Eligibility/Basic requirements

  1. Application letter
  2. Board resolution
  3. Memorandum and Articles of Association,
  4. Certificate of company registration/ Incorporation
  5. Valid Business license
  6. Recent annual returns
  7. TRA Tax clearance certificate
  8. VAT and TIN Certificates
  9. Business Plan
  10. Audited accounts for past 3 years
  11. Projections in line with borrowing tenor
  12. Security details
  13. Authorization to borrow from the parent Ministry (For Government Institutions).

Group Scheme Loan

We offer personal loans to monthly salaried employees of a reputable Government or Private company / institution.

The employer needs to be current or prospective customer of TIB CBL bank using TIB payroll system.

Employer should have a clearly signed arrangement with regards to collection of loan repayments.

Secured Personal Loan

Bank financing to facilitate business or any other personal investment such as; investment in government securities, purchase of shares listed in Dar es Salaam Stock Exchange (DSE), renovation of domestic house or business premises, purchase of small scale processing machine and other investment required.

Benefits

Flexible repayment tenor up to 48 months

Top up is allowed after agreed repayment time

Loan up to TZS 200M or USD equivalent

Short facility processing process