Yes, a bank account or mobile money wallet (M-Pesa, Tigo Pesa or Airtel Money) is required to receive your loan and make repayments. This ensures security and transaction transparency.
How long does it take to receive a loan decision?
We deliver decisions within 48 hours for salaried loans, 72 hours for business loans, and 72 hours for church loans — after receiving all complete documents.
Can I repay my loan early?
Yes. BSI Finance accepts early repayments with no penalty fees. You may also request a top-up loan after repaying 50% of your current balance.
Are there any hidden or additional fees?
No. BSI Finance charges zero application fees and has no hidden costs. All interest and any applicable charges are clearly disclosed before you sign any agreement.
Do I need collateral for a loan?
It depends on the loan type. Salaried loans use your payslip as collateral. Business and church loans require a physical asset such as a property title, plot deed or vehicle logbook.
Is BSI Finance properly licensed?
Yes. BSI Finance operates under a Tier 2 Microfinance licence issued by the Bank of Tanzania. Our TIN is 158-862-654 and our BRELA registration number is 158862654.
