VERSION I – 2024 Form R/N……………

P.O.BOX 543
ATC House, Ohio Street,
Dar Es Salaam
TEL: +255768836530, +255684550154

DEVELOPMENT TOPUP LOAN APPLICATION CONTRACT

(cum DEVELOPMENT TOPUP LOAN APPLICATION FORM)

A. LOAN APPLICANT’S DETAILS

i. FULL NAME: ……………………………………………………………………………..

ii. DATE OF EMPLOYMENT……………………………………………………………….
iii. DATE OF JOINING ATCL SACCOS……………………………………………………
iv. SHARES BALANCE TODATE (TZS)…………………. ……………………………….
v. SAVING BALANCE TODATE (TZS)……………………………………………………
vi. DUTY STATION…………………………………………………………………………..
vii. STAFF NUMBER………………………………………….………………………………
viii. PHONE NO……………………………………………….……………………………….
ix. CURRENT RESIDENCE ADRRESS……………………………………………………

B. LOAN DETAILS

i. I hereby request a loan of TZS……………………………………………………………

ii. I hereby declare to pay all of my loan inclusive of all charges (interest on loan, and
insurance fee on loan) from (date) ...................................... to
(date)……...…….………………which is equal to …………………… equal monthly
installments (Interest on loan is 11% per annum and insurance fee on loan is 1% per
loan taken) [You have a right to request for a Loan repayment schedule]

NOTE: Application form fee of TZS 10,000/= per application form should be deposited
in ATCL SACCOS BANK ACCOUNT prior submission of the Loan application form.
The following are the bank details of ATCL SACCOS (0133623344200 CRDB BANK)

iii. Purpose for which loan is requested.………………………………………………………

iv. Provide name and value of the collateral security you secure against your loan (if loan
exceed Tsh. 10,000,000/=) …………………………………………………………………...

v. Bank account details of the beneficiary;

a) Account number ……………………………………………………
b) Name of the bank …………………………………………………..
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 C. DOCUMENTATION AND APPRAISAL

The member should note that the following documents must be attached. Failure to do so will
cause the application to be rejected until the missing documents are provided;
1. A recent original pay slip.
2. Copy of employment contract.
3. Latest development application form with all attachments you submitted previously before
applying for Top-up
4. Previous and latest development loan repayment schedule
5. New development loan repayment schedule
6. Any other relevant document.
a) Any other collateral security in case of loan exceeding Tsh. 10,000,000/=

D. AUTHORITY OF DEDUCTIONS FROM SALARY.

I HEREBY AUTHORIZE MY SALARY TO BEDEDUCTED BY THE AMOUNT OF LOAN

GRANTED PLUS11% INTEREST PER ANNUM, MOTHLY ON DIMINISHING BALANCE
ACCORDING TO THE PAYMENTS TERMS UNDERWHICH THE LOAN IS GRANTED.
WHEN I RETIRE/RESIGN/DISMISSED BEFORE COMPLETION OF REPAYMENT, I HEREBY
AUTHORIZE THE BALANCE TO BE DEDUCTED FROM ANY OF MY TERMINAL BENEFITS
DUE TO ATCL.

…………………………………………………… ……………….……………………………
MEMBER’S SIGNATURE DATE

E. RULES APPLICABLE TO ATCL SACCOS LOANS.

1. A member must have completed at least three months’ membership and contributed not less
than TZS 100,000 shares’ value.
2. The total loan granted by the ATCL SACCOS shall not exceeds two times the member’s
savings.
3. The maximum repayment period for all loans must be as per loans policy (not exceeding FIVE
(5) years).
4. No member will be permitted to suffer total deductions which will cause the net salary to fall
below 1/3 of basic salary.
5. Basic salary excludes transport allowance, overtime, acting allowances and any other
allowance.
6. Every loan applicant must have at least three (3) guarantors against the particular loan. (Each
guarantor must be ATCL SACCOS member owning at least TZS. 100,000 shares value)
7. No member will be allowed to withdraw his/her shares nor savings unless all loans granted to
him/her are all settled.
8. No member will be allowed to withdraw from the ATCL SACCOS’s membership and he or
she is a guarantor of others’ loans unless he/she finds other members to take his place as
guarantor.
9. No member is allowed to guarantee more than two loans.
10. Top-up on loan is allowed on Development loan only.

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 F. REPAYMENT GUARANTEE

We the undersigned are the guarantors for the loan applied on page 1 of this Contract, we
accept jointly and severally liability for the repayment of the loan in the event of the borrower’s
default.

We understand that the amount in default including accrued interest shall be recovered from us and
offset against our salaries or shares or any payment due to us in ATCL SACCOS.
1ST Guarantor……..………………………………………………………………PF NO………………………
Value of total shares owed TZS……………………………………………
SIGNAURE…………………………………………………………………………….
2ND Guarantor………………………………………………………………………PF NO……………………
Value of total shares owed TZS…………………………………………….
SIGNATURE……………………………………………………………………………
3RD Guarantor………………………………………………………………………PF NO……………………
Value of total shares owed TZS……………………………………………
SIGNATURE…………………………………………………………………………..

G. CONDITIONS OF ACCEPTANCE & DECLARATION

In signing this Contract, you undertake to comply with ATCL SACCOS’s rules and regulations as set out in the
General Terms and conditions above.

Declaration:
I have read and understood the terms and conditions in this Contract and I confirm that to the best of my knowledge
all the information I have supplied as part of my ATCL SACCOS’s loan application process is true and correct.

I agree to abide by the terms and conditions described in this Contract, and I consent to the disclosure of personal
information as described above.

I understand that if I have supplied false information as part of the application process or do not comply with the
rules and regulations my loan application may be cancelled.

Signature:………………………………………………………..
Full name:……………………………………………………….
Date:………………………………………………………………

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 FOR OFFICIAL USE ONLY

A. VERIFICATION OF THE ATCL HUMAN RESOURCE OFFICE

I certify that the applicant is an employee of ATCL and of good character;

Stationed at……………………………………………………………………Date…………………………………..
Full names…………………………………………………………………..Signature……………………………….
OFFICIAL RUBER STAMP……………………………………………….

B. VERIFICATION OF THE ATCL SACCOS ACCOUNTANT

ATCL SACCOS accountant name………………………………….…………………………………..

a) Date application received: …………………………………………………………………….
b) Total saving (TZS) of the applicant……………………………………………………………
c) Outstanding loan balance (TZS)………………………………………………………………
d) New Loan Applied (Top-up): …………………………………………………………………
e) Savings needed to add to get top-up: ………………………………………………………
f) Total New Loan after top-up: …………………………………………………………………
g) 1/3 of basic salary………………………………..………………………………………………
h) Total Interest on Loan (TZS)……………………………………………………………………
i) Total insurance fee on Loan (TZS) ……………………………………………………………
j) Total amount to pay the applicant after computations………………………………………
k) Monthly repayments after computations……………………………………………………
l) Signature……….………………………..Date……………………………………………………

C. VERIFICATION OF THE ATCL SACCOS CREDIT COMMITTEE

At the credit committee meeting held on ................................................................................................ it was resolved

that loan application of the ATCL SACCOS member mentioned on page 1 of this Contract to be paid loan amounting to TZS
.................................................................................................................. which will be recoverable
in….............................equal monthly installments.

At the credit committee meeting held on ................................................................................................. it was resolved

that loan application of the ATCL SACCOS member mentioned on page 1 of this Contract to be
… ................................................................ (Postponed/Rejected) for the following under the following reasons
i. ………………………………………………….
ii. ………………………………………………….
iii. ………………………………………………….

a) Credit Committee Chairman name………………………………………..Signature…………………

b) Credit Committee Secretary name…………………………………………Signature……….……….
c) Credit Committee member name…………………………………………Signature……….…………
D. VERIFICATION OF THE ATCL SACCOS TRASURER

ATCL SACCOS Treasurer is hereby authorizing to prepare a payment for the amount ATCL SACCOS CREDIT COMMITTEE have
approved subject to sufficient funds being available.

Signature of ATCL SACCOS Treasurer ………………………………………………………. Name of ATCL SACCOS

Treasurer……………………………………………. Date of Approval ……………………………………………………

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