{"id":33668,"date":"2021-07-28T14:12:43","date_gmt":"2021-07-28T14:12:43","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=33668"},"modified":"2021-07-28T13:28:53","modified_gmt":"2021-07-28T13:28:53","slug":"crdb-slashes-interest-on-loans-for-freight-clearing","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/crdb-slashes-interest-on-loans-for-freight-clearing","title":{"rendered":"CRDB slashes interest on loans for freight clearing"},"content":{"rendered":"

Africa-Press<\/a> – Tanzania<\/a>. <\/strong><\/span>CRDB Bank and the Tanzania Business Community yesterday inked a deal where the lender slashed by 2.0 per cent on the interest rate on loans charged for port freight clearing.<\/p>\n

For the lender to facilitate the deal\u2014Post Import Financing Solution\u2014cut interest rate charged on freight clearing loan to 16 per cent from current 18 per cent.<\/p>\n

The agreement is structured to assist importers to pay and clear their consignment at the port on time and reduce dwell time challenges and ultimately minimise clearing costs.<\/p>\n

CRDB Chief Commercial Officer Dr Joseph Witts said they segmented the loan as port cargo loans from other normal loans to freight to give importers the much-required financial relief.<\/p>\n

\u201cThe loan is issued according to the rate of payment of cargo at the port where a merchant can pay customs duties, port costs and shipping agent on time and without delay,\u201d Dr Witts said during the signing ceremony.<\/p>\n

The loan will only be issued to Tanzania Business Community members and is payable within three months. The CCO said the loan\u2019s interest rate may further taken down depending on the response, trust and repayment phenomenal shown by the community members.<\/p>\n

Also, the bank said loan issued without any collateral and the process takes only seven days upon submission of the loan application. In addition, tax payments and port costs will be paid directly to the relevant institutions including TRA, TPA or shipping agency.<\/p>\n

\u201cThis service will support the government\u2019s efforts to collect taxes on time and improve the country\u2019s economy,\u201d Dr Witts said. The other aim is to provide relief to the business community members especially after their activities were hit by coronavirus pandemic challenges.<\/p>\n

\u201cIt is my hope that the loan will be a great solution for importers and bring down port costs due to delays in paying import duties,\u201d he said.<\/p>\n

The Tanzania Business Community, Chairman, Pastor Silva Kiondo, thanked the bank for recognising the importance of importers and designing a service that will eliminate challenges related to cargo clearance at the ports.<\/p>\n

\u201cOur goal is to see our members do their business without any inconvenience. I call on members to seize the opportunity to improve their business,\u201d said Pastor Kiondo.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. CRDB Bank and the Tanzania Business Community yesterday inked a deal where the lender slashed by 2.0 per cent on the interest rate on loans charged for port freight clearing. For the lender to facilitate the deal\u2014Post Import Financing Solution\u2014cut interest rate charged on freight clearing loan to 16 per cent from […]<\/p>\n","protected":false},"author":84,"featured_media":33667,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-33668","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nCRDB slashes interest on loans for freight clearing - Tanzania<\/title>\n<meta name=\"description\" content=\"CRDB Bank and the Tanzania Business Community yesterday inked a deal where the lender slashed by 2.0 per cent on the int ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/crdb-slashes-interest-on-loans-for-freight-clearing\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CRDB slashes interest on loans for freight clearing\" \/>\n<meta property=\"og:description\" content=\"CRDB Bank and the Tanzania Business Community yesterday inked a deal where the lender slashed by 2.0 per cent on the int ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/crdb-slashes-interest-on-loans-for-freight-clearing\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-28T14:12:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/07\/img-61015b7f42a72.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"801\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/crdb-slashes-interest-on-loans-for-freight-clearing#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/crdb-slashes-interest-on-loans-for-freight-clearing\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"CRDB slashes interest on loans for freight clearing\",\"datePublished\":\"2021-07-28T14:12:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/crdb-slashes-interest-on-loans-for-freight-clearing\"},\"wordCount\":379,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/crdb-slashes-interest-on-loans-for-freight-clearing#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/07\/img-61015b7f42a72.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/crdb-slashes-interest-on-loans-for-freight-clearing#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/crdb-slashes-interest-on-loans-for-freight-clearing\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/crdb-slashes-interest-on-loans-for-freight-clearing\",\"name\":\"CRDB slashes interest on loans for freight clearing - 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