Yes, it is safe to borrow from Bayport. Bayport Financial Services is a leading non-Bank retail credit provider with operations in Africa and South America. The Company was established in 2001 and the holding company operates from Mauritius.
Bayport Financial Services’ operations are available in Botswana, Ghana, Tanzania, Uganda, Zambia, Colombia, Mozambique and South Africa . The group services more than 537 000 customers through its 398 branches and over 6665 employees.
I have never heard of Bayport.
Bayport Financial Services Tanzania Is a microfinance company that has operated since 2006, with registered number 55322 and has rapidly become the leading specialist credit provider to civil servant and approved private companies’ employees.
Is Bayport in my region?
The company has 80 branches in all the regions of mainland Tanzania. You can find a branch near you by simply using our easy to use branch locator. Its Head Office is in Dar es Salaam at the Bayport house, Bayport House 3rd floor Al Dua Towers, 3 Regency Estate, New Bagamoyo Road, P.O Box 71967. To find your nearest Bayport branch you can call us on +255 22 277 1420/1/2/3.
Who is eligible?
As long as you are a civil servant or an employee from the approved private company then you are eligible for a Bayport loan.
What do I need to get a loan?
It’s simply all you need is a recent pay slip, a copy of your work ID, Bank statement that shows your income.
Do I need collateral to get a Bayport loan?
You do not need any collateral for your loan. It’s unsecured.
What can I use my loan for?
We encourage our clients to borrow for the right reasons but you can use your loan for education agriculture, health, build a home etc.
I am not a civil servant nor is the company I work for approved by Bayport, how do I get a loan?
At the moment you wouldn’t get a loan. However if your organisation has more than 100 employees, the Bayport management can enter an agreement with your employer to enable you to borrow from us.
How much of loan can I get?
You can borrow any amount as long as you meet our affordability criteria.
Is my salary enough to get a loan?
Any salary is enough for a loan as long as you pass our affordability criteria, you can get a loan.
Which is your cheapest loan product?
The 60 month product is the cheapest product as you can spread your loan payments over 5 years. However, we offer 1 month, 3 month, 6 month, 12 month, 24 month, 36 month loan products as well for shorter loan payments if you needed.
Does Bayport offer Asset Finance?
Yes, please visit your nearest Bayport Branch for more information.
Can I pay my loan early if I want?
You are welcome to pay your loan early but there will be a penalty on the loan for early cancellation. For more information contact the Bayport Head Office on +255 22 277 1420/1/2/3.
How long will it take my loan paid into my account?
You can get your loan after 24 hours after head office approval.
I’ve heard there are delays in payment of loan into accounts.
Usually if there is any delays it’s because the required documents were incorrect, or we have tried to contact the client to confirm their request for a loan and you were not reachable, or simply the Bank Account number is incorrect. These are some of the reasons why payment might be delayed.
Bayport loans are too expensive.
Bayport offers unsecured loan where you the client receives a loan with no collateral. This means Bayport has to bare all the risk, in the unlikely event you are terminated from your job or you die the company does not chase after you for the loan.
Can my Bayport loan be used to for my other loans/debts?
Yes, your Bayport loan can be used to pay all your other debts as we pay you directly into your account for freedom to pay whom you need to.
Can I increase loan amount?
Yes, you can have a replacement loan or loan increase which usually cheaper that your first loan.
If my monthly deducted are more that what was agreed what should I do?
It’s uncommon for this happen, but when if it does please inform your nearest Bayport immediately so as to fix this error.
How do I make a complaint?
Naturally, we pride ourselves on the quality of our service, and the products we offer. However, should you feel you need to make a complaint, please visit your nearest Bayport branch and see the manager, who is more than willing to help. Alternatively, you can visit our Customer Service page to leave your feedback and we will have someone contact you.
Bayport Financial Services Tanzania is a subsidiary of Bayport Management Ltd (registration number 54787 C1/GBL) ("BML") which is a Public Limited Company incorporated in the Republic of Mauritius under section 299 of the Mauritius Companies Act. BML's Registered Office is situated at C/o DTOS Ltd, 10th Floor, Raffles Tower, 19 Cybercity, Ebene, Mauritius. BML is licensed and regulated by the Financial Services Commission of Mauritius.