BOOM ADVANCE LOAN
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.
Why Boom Advance Loan?
- Instant loan 24/7- no paperwork required
- No interest applied.
- Reasonable loan amount of up to TZS 120,000
- Option to top up loan
- Automatic repayment as soon as HESLB pays allowances.
Who is Eligible for Boom Advance Loan?
- HESLB Loan beneficiary
- Registered in a public or private university
- Must Maintain Account with CRDB Bank and received HESLB allowances at least once
- Registered with SimBanking App.
- A student must be on-boarded through Digital Disbursements Solution (DIDIs)
How to Apply for Boom Advance Loan?
- Log in SimBanking App. Don’t have SimBanking App? Download here
- Select Quick Loans
- Select Boom Advance
- Enter loan amount requested (You can lend from TZS 10,000- TZS 120,000- You are not restricted to apply the whole amount at once, you can apply at any time you are in need.
- Accept Terms & Condition
- Confirm Transaction
- The loan amount will be credited instantly into the borrower’s accounts.
To apply Open Simbanking App here