Boom Advance Loan

• Immediate liquidity: Students don’t have to wait for the official HESLB disbursement date - they can access cash earlier.

• Convenience: No need to visit a branch or agent; it's fully digital on SimBanking.

• Affordability: Interest-free; only a small application fee applies.

• Financial inclusion: Builds students’ credit profile and familiarizes them with formal financial services.

• Reliability: Guaranteed repayment source since deduction happens directly from HESLB disbursement.

• Supports student welfare: Helps with urgent needs like transport, meals, or study materials.

How to Apply for Boom Advance Loan

• Log in SimBanking App. Don’t have the SimBanking App? Download here
• Select Quick Loans
• Select Boom Advance
• Enter loan amount requested (You can lend from TZS 10,000 to TZS 120,000 - You are not restricted to apply for 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.

Customer Must be:

• A university student holding a CRDB Scholar Account

• Confirmed HESLB loan beneficiary with loan allocation