Mtumishi Loan
Mtumishi Loan product aims to cater for public servants, also known as government employee loans or civil servant loans, are specialized loan products offered to individuals employed in the public sector, including government employees, civil servants, and public servants.
Our microfinance institution tailored the Mtumishi Loan Product to meet the specific needs and financial circumstances of public sector employees.
This product can assist the public servants with challenges such as
- Personal Expenses: The funds can be used for personal expenses such as home improvements, medical expenses, debt consolidation, education, or wedding expenses.
- Housing: Mtumishi loan funds can also cater to housing needs, including home purchase, construction, renovation, or refinancing.
- Vehicle Purchase: In this case, the funds utilized for purchasing or leasing vehicles, including cars, motorcycles, or other modes of transportation.
- Emergency Funds: Public servant loans can serve as emergency funds to address unexpected financial needs or contingencies.
Mtumishi Loan from kopafasta Microfinance comes with favorable terms and conditions that are specifically tailored to the needs of public sector employees. These conditions may include lower interest rates, longer repayment periods, flexible repayment options, reduced fees, and streamlined application processes just to mention a few.
This product loan works hand in hand with the Ministry of Planning and Finance to enable instalment auto-deductions from the public servant’s monthly salary; this procedure is also known as salary deduction or payroll deduction.
Government and International Organizations Supports
In some cases, public servant loans are offered in collaboration with government institutions or agencies. These loans may be part of government programs aimed at supporting public sector employees by providing access to affordable financing options. At kopafasta, we provide flexibility to such partnerships or collaborations to enable the public servants to promote a more financial well-being to public servants.
