Stanbic Bank Launches ‘Now-Now Loans’ To Boost Businesses After COVID
Stanbic Bank to support clients and boost business with affordable loan offers
Kampala, Uganda | THE INDEPENDENT | Stanbic Bank Uganda today launched the ‘Immediate Loans‘ campaign aimed at providing clients with fast and affordable loans to overcome financial challenges in the aftermath of the Covid-19 pandemic.
All of Stanbic’s loan products have also been migrated to digital platforms, making them dematerialized, easy to access in real time and at the customer’s convenience. The plan includes allowing those who transfer their loans to Stanbic to benefit from zero management fees.
Announcing the new ‘now-now loans’ package, Grace Muliisa, head of personal and business banking at Stanbic Bank, said the campaign will provide attractive loan offers tailored to businesses recovering from the aftermath. of the COVID-19 pandemic.
“This loan solution comes with unique advantages such as a low interest rate of up to 15.9%, insurance coverage and much more. However, rates may be subject to change depending on individual loan valuation, ”Muliisa said.
“We understand that the impact of the new Covid-19 pandemic still exists. Many people, both in the private and public sectors, continue to experience financial stress. This, coupled with a high cost of living and late payments, has depleted their savings reserves, ”explained Muliisa.
She added: “What this means is that they are unable to meet their daily needs, pay for essential services like health care, education and grow financially, therefore unable to make a decent living. . As a bank that drives Uganda’s growth, Stanbic’s goal is to identify the main financial barriers that prevent our clients from obtaining affordable financial service to enhance their personal growth.
Muliisa also noted, “It is because of such hurdles that Stanbic has revamped its loan offering to not only enable clients to solve their current financial needs, but also to ensure that these loans take them to the next level of finance. their growth.
Stanbic keeps your dream plan alive
Anne Juuko, Managing Director of Stanbic Bank Uganda, was convinced that the new loan would keep many dreams alive.
“We know the past year has been tough for everyone, but we at Stanbic Bank tell you not to put your dreams of buying a car, landing or starting that side business on hold. We believe this year offers new possibilities and with Stanbic Bank as a financial partner anything can be, ”said Juuko.
Stanbic Bank’s loan product manager Jackson Emanzi said the “immediate loans” campaign will offer personal payday loans, cash advances, unsecured and overdraft loans at a low interest rate of up to reach 15.9% based on the valuation of your loan which is currently the cheapest on the market.
“The low price of these loans is meant to make them affordable and to encourage potential borrowers with urgent cash needs to approach the bank for help. These loans are also a crucial financial service that can help stimulate businesses and improve the rapid recovery of the economy, ”said Emanzi.
He added, “With the digital component of these loans, the application process will be transparent and efficient without any paperwork. And the acquisition of funds quickly and hassle-free with the loan disbursed to your Stanbic account in real time thus allowing you to resolve your urgent financial need.
In addition, customers who acquire the loans using the mobile and internet banking platform will receive free annual accident insurance coverage and have the chance to participate in our monthly raffles to win a variety of gifts, including: tuition, fuel, vouchers and dinner vouchers, Emanzi added.
With the impact of the pandemic still with us, finding financial sources to meet our daily needs continues to be the biggest challenge. Recognizing this urgency, Stanbic Bank lowered its interest rate and migrated all of its lending solutions to the digital platform to encourage clients needing a helping hand to access it in real time to quickly resolve their issues and pursue their projects.
Stanbic Bank Uganda is a member of Standard Bank Group, Africa’s largest bank in terms of assets. Standard Bank Group reported total assets of R198 trillion (approximately US $ 128 billion) as of December 31, 2015, while its market capitalization was R184 billion (approximately US $ 11.8 billion). .
The group is represented directly on the ground in 20 African countries. Standard Bank Group has 1,221 branches and 8,815 ATMs in Africa, making it one of the largest banking networks on the continent. It provides global connections backed by in-depth information about the countries where it operates.