CRDB unveils interest-free registration students loans

DODOMA: CRDB Bank has launched an interest-free registration loan aimed at helping higher education students pay their registration fees promptly, even before they receive financial support from the Higher Education Students’ Loans Board (HESLB).

This initiative addresses the financial challenges students face during registration, ensuring they can start their studies without delays.

During the launch, Director of Higher Education in the Ministry of Education, Science and Technology, Professor Peter Msofe, hailed CRDB for providing a financial solution that alleviates registration-related financial burdens.

“This will enable many students to overcome the financial challenges that have hindered their studies,” he stated.
Students can borrow up to 360,000/- interest-free, with funds directly transferred to the universities’ accounts through a control number, simplifying the registration process.

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The loan is accessible via CRDB’s SimBanking App, allowing students to apply without visiting a branch.

CRDB’s Central Region Manager, Mr Chabu Michwaro emphasised the bank’s commitment to supporting higher education students through various financial services.

He noted, “CRDB is proud to be a close partner to students, offering services that assist in their studies and help them build a strong financial foundation for the future.”

CRDB Bank has been providing tailored financial services to university students for several years, including the Scholar Account, which has no operational fees and can be easily opened through the SimBanking App.

The app also allows students to manage their accounts, pay for services and apply for short-term loans like Boom Advance, designed for those waiting HESLB funding.