Pension Advance

Maelezo

Pension Advance is a short-term, interest-free loan offered exclusively to pensioners who hold a CRDB Pension Account. This digital financial solution is accessible via the SimBanking platform (USSD or app), ensuring retirees can apply remotely and receive funds swiftly, without the need for documentation or collateral.

  • Loan Amount: Ranges from TZS 5,000 up to TZS 1,000,000 (1 million) limited to 50% of monthly pension paid to the customer.

  • Interest & Charges: The loan is interest-free; the only cost small charge of application fee.

  • Speed & Convenience: Funds are disbursed almost instantly once the loan is approved - delivered directly via SimBanking.

  • Security & Simplicity: No collateral or documentation needed; fully digital processing ensures a quick and secure experience.

  • Immediate Access to Funds: customer gets quick financial relief for unexpected expenses or short-term needs without waiting for his/her pension payout.

  • Completely Digital & Accessible: applied from anywhere, anytime via SimBanking App or USSD - no need to step into a branch or agent!

  • No Paperwork or Collateral Required: The streamlined, paperwork-free process makes accessing credit faster and easier.

  • Safe & Reliable Repayment: repayment is coordinated with your pension disbursement -no unexpected deductions or manual repayments.

  • Retired individuals whose pension are paid via CRDB Bank.

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