Pensioners' loans (Wastaafu Loans) are loans issued to retirees or pensioners where their future pension payments are used as collaterals.
Under this type of loan, the pensioner will receive a lump sum of money repayable by certain amount of his/her pensions and/or other reliable sources of income like rent income with valid lease agreements, viable businesses etc
This credit programs currently covers pensioners from PPF, PSPF, LAPF, HAZINA NSSF and ZSSF.
TPB Bank and the Public Service Pensions Fund (PSPF), Government Employees Pension Fund (GEPF) and Public Provident Fund (PPF) introduced to their members the Start-up Life Loans and Education loans with the objective of assisting the pension funds members to meet their financial obligations to include undergoing further studies and providing financial support during the commencement of their employment.
Members may sometimes fail to secure financial support from their employers due to budget constraints (or any other reasons) or scholarships elsewhere to achieve their educational objectives and assisting them to meet financial requirements when they secure employment.
The Education loans scheme also aims at enhancement of knowledge and skills on the part of members toward improving their work/business performance and therefore the scheme will have mutual benefits to both the member and employer.
Plot loans is a product under Tpb Bank PLC /Presidential Sector Pension Fund (PSPF) partnership specifically designed to issue loans to PSPF eligible members for the purpose of acquiring plots owned by companies
The bank and PSPF have entered into agreement with Real estate developer for selling surveyed plots situated in various areas like Mlandizi, Kibaha, Kigamboni and Bagamoyo.
The Consumer Group Scheme aims at issuing loans to employed persons whose employers have executed collective guarantee agreement with the Bank.
Under this scheme the employer will execute a Guarantee Agreement with the Bank to guarantee remittance of its employees’ loan installments to the Bank periodically.
The individual applicant (i.e. the employee) apart from monthly salary, he/she will not be required to provide any tangible collateral.