CRDB Bank simplifies acquisition of quick loans for Tanzania’s public servants

DAR ES SALAAM: CRDB Bank Plc has officially launched its “Kopa Kimpango Wako” campaign aimed at enabling public servants to access loans more easily, quickly, and under more favorable terms.

Speaking during the launch, CRDB’s Head of Retail Banking, Stephen Adili, said public servants will now be able to borrow up to  300m/- and receive their funds within 24 hours after completing the required application procedures.

Adili said the bank has reduced the loan interest rate from 17 percent to 16 percent, a move intended to lower borrowing costs and provide greater affordability for customers.

ALSO READ: Dr Salim Centre for Foreign Relations hosts Nigeria Air Force delegation

In addition, the loan repayment period has been extended from 10 years to 12 years, giving borrowers more flexibility to manage their finances and repay their loans more comfortably.

Through the campaign, CRDB has also introduced a debt-buyout arrangement that allows the bank to take over outstanding loans held by public servants at other banks, enabling them to benefit from improved services and more customer-friendly lending terms.

The “Kopa Kimpango Wako” loan is available to public servants who use the ESS system.

Those who are not enrolled in the system have been advised to visit their nearest CRDB branch for further information and assistance.