Boom Advance Loan
Overview
Loans for students
Boom Advance is a short-term loan designed specifically for students of higher learning institutions. The product is intended to offer short-term financial solutions to students prior to receiving HESLB allowances.
Loans for students
Boom Advance is a short-term loan designed specifically for students of higher learning institutions. The product is intended to offer short-term financial solutions to students prior to receiving HESLB allowances.
FAQs
No, eligible customers must apply through CRDB Simbanking Application.
There are no interest charges. Only a processing fee of 4% is charged and paid on payday.
Up to 24% of Meals and Accommodation allowance from HESLB.
You can pay manually through the Simbanking Application; by log in and select BOOM Advance repayment.
Yes, by depositing money into your scholar/savings account then log into the Simbanking Application and command repayment.
Yes, the top-up is allowed up to the maximum limit of 24% of Meals and Accommodation allowances net pay. The minimum amount for each top-up is Tzs 10,000/=
You can borrow as many times as you wish once you pay fully the existing loan.
Yes, as long as a customer can access the Simbanking Application.
You might also be interested in
Personal Loan
Are you an employee looking for funds to meet your financial needs? Start a business? Pay for Education? Purchasing a new car? We have got you covered
Jijenge Loan
Get Jijenge loan for your dream house from TZS 20 Million to 1 Billion at affordable interest of 17% and repayment period of up to 20 years
Salary Advance
Emergencies happen. Get instant loan up to 50% of your Salary until your next payday. We have a solution for you with low interest rate of 5%