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CRDB is introducing a new service ‘Boom Advance’ to help students whose study loans have been delayed. ‘Boom’ denotes the amount allocated to students for meals and accommodation. CRDB’s Head of Consumer Banking, Mr Stephen Adili, said: “For a long time we have looking at how we could find a lasting solution to this challenge which affects students academically”.
Boom Advance loans will be interest-free and issued electronically through the SimBanking app. Loans of TSh 40,000 to TSh 120,000 will be available, and repayable within 45 days. Students must be registered with the Higher Education Students Loans Board to qualify.
 (The Citizen)

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