The Malawi Savings Bank (MSB) has launched a fixed deposit promotion dubbed ‘Khashi Khashi’, under which customers stand a chance to win cash and instant prizes upon entry.
MSB Head of Retail and Business Banking Teddie Chanza said, following the success of previous competitions, the bank has been motivated to introduce the ‘Khashi Khashi’ promotion to encourage a saving culture.
“MSB appreciates that every person has goals to achieve. We spend every day of our lives engaging in some form of work or economic activity in order to achieve these goals. MSB is therefore giving its customers and the general public a platform to save money for the future,” said Chanza.
He added that the promotion runs for six months up to November 28 2013. The promotion’s first draw will be held on July 29, second draw on September 29 and the grand draw on November 29.
In the first two draws, winners will walk away with K500 000 (about $1 250), K250 000 (about $625), and K100 000 (about $250) in each of the three regions, while in the grand draw one lucky winner in each region stands to win K1 million (about $2 500) cash.
Customers may also win pieces of cloth, T-shirts or a cap as instant prizes upon opening an account with a minimum of K100 000 (about $250).
To be eligible, one has to open a fixed deposit account with no less than K250, 000 (about $62.50) for a minimum of two calendar months.
“Entrants may be farmers, SMEs or any other customers. MSB appreciates that every person has goals to achieve. We spend every day of our lives engaging in some form of work or economic activity in order to achieve these goals.
“Some of these goals are short term while others are long term. MSB is therefore giving its customers and the genral public a platform to save money for future use,” said Chanza.
The promotion has been run in the past under different names.