First Capital Bank introduces loan scheme for civil servants with a K1m promotion for lucky winners
First Capital Bank has introduced a loan scheme for civil servants whose takers stand a chance of winning K1 million in a promotion dubbed Zanga Phee to run over the next 3 months.
Making the announcement, First Capital Bank’s Head of Marketing, Twikale Chirwa said under, the Consumer Lending function of the bank, civil servants can now apply for a loan of a minimum of K1.2 million.
“Customers also willing to consolidate and top their loans also stand a chance to win some amazing prizes in the promotion,” he said.
“We would like to incentivize our existing customers who would like loan top ups but also encourage potential customers to access the First Capital Bank Civil Servant loan, which is available within 48 hours of application.”
“The Civil Servant loan is fast, flexible, and affordable and does not require any form of collateral or security as long as one is permanently employed by the Government of Malawi.
“The loan, which is processed in 48 hours, can be used for purchase of personal assets, school fees, farming activities and business start-ups amongst other things,” he said.
Chirwa reiterates that the unavailability of mass lending solutions for customers is also one major disadvantages that cause clients to change banking services provider — hence First Capital Bank’s commitment to create a viable market segment for the provision of credit to the civil service employees.
The bank provides credit services to all civil servants that are deducted through the centralized Malawi Payments Solutions, and this include both its existing customers — but more notably also be available to non-customers.
“This will significantly benefit civil servants who currently have limited access to credit. In addition, these customers will be given the option of becoming banked by FCB and it should noted be noted that this market is not concentrated in one place only as it will be spread out all over be it in town and districts,” he said.
