Key ideas
New Loan
On Loans choose New Loan, pick the Borrower and the Loan product, then enter the Principal, Term (months) and Purpose. The Start date defaults to today, so check it before you go on.
The full cost before signing
Below the form, the Schedule preview shows each instalment (six equal ones in our example), and Cost of credit shows the Effective annual rate, Amount received, Total cost of credit and Total of all payments. Bank of Tanzania rules ask you to show this cost before the borrower signs. The effective annual rate includes every fee, and there's no prepayment fee.
Draft and the requirements banner
Create loan saves the loan as a Draft, and a banner lists what the product still needs before it can move on; for Amina a guarantor was missing, while her National ID was already on file. On the Security tab, Add guarantor needs only the name, relationship and phone. Once it's saved, the banner turns green: Ready to submit.
Key facts and submission
Rules require a Key facts statement before payout, so download it in the borrower's language; Amina's is in Kiswahili so she can read her terms. Submit for approval makes the loan Pending. Whoever prepared a loan can't approve it, so Baraka or Neema checks Asha's.