About Bank of India (Tanzania)
Bank of India (Tanzania) Ltd was registered in Tanzania in 2007 with Banking license granted by Bank of Tanzania. Bank started operations on 16th July 2008 by opening its first branch in Dar es Salaam. We have bouquet of Loan, Deposit and Foreign Exchange products which can be further be customized to satisfy customer requirements.
Our bank is wholly owned subsidiary of Bank of India, one of the largest public sector banks in India, established in 1906 and having banking expertise and tradition of over 113 years. Bank of India has over 5100 domestic Branches and 60 foreign offices,5 subsidiaries and 1 joint venture abroad spread over 22 countries covering all the important business centers like New York, London, Paris, Dubai, Hong Kong, Singapore, Jakarta, Nairobi, Antwerp, Jersey, Shenzhen, Beijing, Cambodia, Vietnam, Uganda and all continents including Africa.
We in Bank of India believe in the concept “The Bank that Cares” and ‘Relationship beyond Banking”.
The performance of Bank of India (Tanzania) Limited as on 31st December 2018 was as under
| Capital | TZS 21.50 Billion |
| Total Assets | TZS 161.85 Billion |
| Business Mix | TZS 191.26 Billion |
| Operating Profit | TZS 1.40 Billion |
| Net Profit | TZS 1.04 Billion |
| Names of Directors : | |
|---|---|
| 1. | Mr. Sharda Bushan Rai- Chairman |
| 2. | Mr. Antaryami Sarangi – Managing Director |
| 3. | Mr. Anand Venkatachalam – Director |
| 4. | Mr. Susanta Sekhar dash – Director |
| 5. | Dr. Bernard E Mnzava – Director |
| 6. | Mr. Suitbert Kageuka – Director |
| 7. | Dr. Paul R Kato – Director |
Bank of India (Tanzania) Loan
Bank of India (Tanzania) lends property and cash loans at the rate you need, there are loans for entrepreneurs and small business owners who need to grow their businesses and capital according to their income. Bank of India (Tanzania) gives you the opportunity for a businessman & entrepreneur to borrow the amount of money you need. they also offer property and cash loans to government employees and companies click here so you can check the methods and criteria for getting a loan.
Term Loan
We offer term loan for acquisition of commercial property, purchase of fixed assets and business expansion, including loan against property to business . This loan is useful for professionals, proprietors, partnership firms and limited companies.
- Credit Grading Methodology
- Longer tenor of upto 3 years
- Attractive interest rates
- Quick turn around time
Overdraft
Loan Against Deposit
Personal Loans
Bank of india Personal Loan is the easiest way to make your dreams come true.
LC & Guarantees
Standby Letter of Credit/Guarantee
A Standby Letter of Credit/Guarantee is a written undertaking given by BOITZ to the person with whom you are doing business (beneficiary) to pay a specified amount of money in the event that you or a third party do not meet specific financial or performance obligations. Upon BOITZ’s payment to the beneficiary, you reimburse BOITZ for such payment.
Different types of Standby Letters of Credit/Guarantees offered by BOITZ
- Bid Guarantees (Bid Bond)
- Performance Guarantees (Performance Bond)
- Advance Payment Guarantees
- Retention Guarantees/Advance Payment Holdback Under Contract Guarantees
- Financial Guarantees
Key benefits :
Improves your cash flow
Eliminates or reduces the need to give a beneficiary, with whom you have entered into a contract, cash collateral or other security to support the performance obligations under the contract
May eliminate the need for you to prepay for products or services, which allows you to use your funds for alternate purposes before payments become due A bid or performance guarantee may help you win contracts by providing the company with financial security of payment
Convenient
BOITZ has expertise in structuring Standby Letters of Credit/Guarantees to meet your business needs while helping to protect your interests to the extent possible in the circumstances
We can customize our formats to suit your needs, subject to Bank’s requirements
Is it for you?
Standby Letters of Credit/Guarantees may be for you if you :
Do business domestically or internationally with government or other entities Enter into contracts/agreements, which require you to provide cash, collateral or other security to another party to support your business transactions or to meet specific financial or performance obligations
BENEFITS :
- Achieve the flexibility to buy almost anything you want
- You can spread the cost to suit your budget, with fixed monthly repayments to meet your needs.
- To meet personal requirement of any nature
- Easy maximum instalments
- Interest maximum 20% p.a for secured loans and 21% p.a for unsecured loans
Bank of India (Tanzania) Address, Location and Contact Details
HEAD OFFICE : Bank of India (Tanzania) Ltd
Maktaba Street
P.O.BOX 7581 Dar es salaam-Tanzania
Managing Director Tel : +255222135362
Fax : +255222135363
Email : [email protected]
Dar Es Salaam Branch
Maktaba Street
P.O.Box 7581 Dar es Salaam
Chief Manager- Tel : +255222135358
Operation Department-Tel : +255222135368
Credit Department-Tel : +255222135369
Treasury Department-Tel : +255222135366
Email : [email protected]
Zanaki Street Branch
Zanaki Street
P.O.Box 7581 Dar es Salaam
Chief Manager-Tel : +255222111062
Operation Department-Tel : +255222111061
Email : [email protected]
Job Vacancies, career and Internships at Bank of India (Tanzania)
NMB uses creative recruitment practices that ensure all applicants are carefully evaluated. Bank of India (Tanzania) Job vacancies are normally advertised through the Official Bank of India (Tanzania) Tanzania career website page which can be accessed through this link – https://www.boitanzania.co.tz/Home/Display?PageName=CareerPage
Find and apply for jobs advertised by Bank of India (Tanzania) by browsing the links listed below:
Bank of India (Tanzania) useful links
- Bank of India (Tanzania) website: https://www.boitanzania.co.tz/
- Bank of India (Tanzania) job vacancies – careers page: https://www.boitanzania.co.tz/Home/Display?PageName=CareerPage
- Bank of India (Tanzania) Loan: https://www.boitanzania.co.tz/Home/Display?PageName=Loans
