Standard Bank Malawi brings ‘start a-fresh’ loans to grow customers

With only two months to go before year ends, Standard Bank is re-opening a fresh window to allow customers get additional to enable customers’ growth through farming, home repairs, and festive season holidays.

Dubbed “Start a Fresh”, the offer is with immediate effect and valid until January 31, 2018.

Head of Personal & Business Banking (PBB) Dr Margaret Kubwalo-Chaika said the ‘Start Afresh’ loan offer is open to customers who have existing loans, but would like to top-up as soon as possible.

“The loan aims to provide a cushion to our Personal customers during this loan period when additional responsibilities and obligations set in, but cash flows are low,” she said.

Chaika said it is during this time of the year that we need extra money for farming, household maintenance, school fees and festive season family vacation.

“Thus this loan facility provides the much-needed relief from the shock of these demands. Our goal is to ease the pressure and psychological burden that these obligations may create and move our customers comfortably forward,” she said. In addition to this loans offered under this campaign require no collateral as security, she noted, “customers require only evidence of a salaried account to access a loan from MK4.5 million up to MK15 million”.

The PBB Head said the bank’s loans are available within the shortest time possible from application, and customers will be able to monitor their accounts in real time using the bank’s digital platforms.

Eligible customers should have an existing performing loan for at least 6 monthsand should not have been in arrears or in default at a particular point. In return Standard Bank promises to process the loan within the shortest possible time.

The loan has a minimum of three month re-payments for Private and Executive Banking and six months for other accounts.