NBS Bank launches ‘Kachangu’ Loan

Leading home-grown commercial bankers, the Malawi Stock Exchange (MSE) Listed NBS Bank, popularly known as the ‘Red Brigade,’ has launched a new digitized personal loan dubbed ‘Kachangu’ aimed at targeting its retail customers.

Kachangu Personal Loan comes barely two months after a similar one called Kachangu Payday was launched to provide easy loan access to the customers within 10 minutes.

NBS plc’s Head of Marketing and Customer Experience, Tamanda Ng’ombe-Longwe, the introduction of the digitized loan, which is accessible on the Bank’s website, reflects the growing digital world.

NBS Bank Head of Marketing and Customer Experience Tamanda Longwe.

“We are moving towards a digital world where systems, processes and general operations are becoming more digital in nature. NBS Bank wants to move with the changing times by offering a quicker and convenient way of applying for and accessing loans through our digital banking platforms.”

“Kachangu has now gone personal and with time, we intend to add more products to create a full bouquet of facilities under the Kachangu umbrella,” said Ng’ombe-Longwe.

According to Ng’ombe-Longwe, apart from applying online, the loan also provides convenience to customers since the process to access it does not require paperwork or need to visit the banking halls and is approved instantly.

The loan, which targets civil servants receiving salary through the bank, and workplace banking customers, offers a minimum K100, 000 and K6 million cash limit.

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