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Jinasue Overdraft Facility

Overview

Jinasue is a quick and convenient digital loan solution that allows a customer to apply for and repay loans directly through his/her mobile phone. It is accessible 24/7 via Simbanking, both through mobile app and USSD (*150*03#).

A flexible credit facility that automatically tops up shortfalls in a customer's account, allowing them to complete transactions even when their available balance is insufficient.

  • Loan Limit: Up to TZS 1,000,000.

  • Tenure: Automatically repaid on the next deposit or within 30 days, whichever comes first.

  • Competitive and affordable Interest Rate.

  • Access Channels: Simbanking App or USSD.

  • Multiple Loans: Customers can access the facility multiple times within their approved limit.

  • Disbursement: Facility is activated instantly at the point of transaction. 

  • Usage Scope: Can be used to complete a variety of essential transactions, including:

    • Transfers to CRDB accounts, other banks, or mobile wallets

    • Utility bill payments (e.g. LUKU, water and TV subscriptions)

    • Payments of air tickets, insurance premiums, school fees, and more.

Customer must have an active CRDB account registered with Simbanking.

  • Salaried customers: Eligible for up to 50% of net monthly salary.

  • Non-salaried customers: Eligibility determined based on transactions performed through their accounts.

FAQs

The Jinasue OD is a convenient way to complete your transaction if you have insufficient funds in your account. It allows you to borrow the necessary amount to cover your purchase, payment or money transfer transaction. 

When you initiate a transaction and have insufficient funds in your account, Jinasue will prompt you for a Jinasue OD loan. If you agree, the required amount will be instantly credited to your account, allowing you to complete the transaction seamlessly. 

Eligibility criteria may vary based on factors such as account history, creditworthiness, and other parameters determined by the bank. A User must have a certain level of account activity and a history of regular deposits to qualify for the loan. 

The borrowing limit depends on various factors, including your account history, creditworthiness, and the bank's policies. The prompt will display the maximum loan amount available to you when you opt for the Jinasue OD loan.

The maximum loan is TZS 1,000,000 (One Million only).

There is a one-time fee of 8% charged on the loan amount.  

The loan amount, along with any applicable fees and interest, will be automatically deducted from your account upon your next deposit. You do not need to take any additional steps to repay the loan. However, the loan must be whole paid within 30 days. 

The loan duration is one month, 30 days. You can repay your loan within one month through several deposits. If you are unable to repay the loan within thirty days, additional fees and interest may apply. It's important to manage your finances responsibly and ensure that you have sufficient funds to cover the loan repayment. 

The availability of the Jinasue OD loan may vary depending on the type of transaction. The Jinasue mobile application will indicate whether the option is available for the specific transaction you wish to complete.

Simply follow the prompts during the checkout process when you have insufficient funds in your account. The application will guide you through the steps to apply for and receive the Jinasue OD loan. 

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