Stanbic Bank Uganda on Monday launched a new campaign dubbed ‘Now-Now loans’ aimed at offering customers quick and affordable loans to overcome financial challenges in the wake of the Covid-19 pandemic.
Under the new campaign, the bank customers and non-customers will be able to apply for a loan within two minutes.
The loan itself will be process within six hours, according Grace Muliisa, the Stanbic Bank’s Head of Personal and Business Banking.
Muliisa told press in Kampala that the campaign, which will be running for 90 days will be see customers acquiring quick loans for as low 15.9% interest per annum. These loans however, will only be accessible through the bank’s digital platforms such as online banking and the mobile USSD code.
“We understand that the impact of the novel Covid-19 pandemic still exists. A host of individuals both in the private and public sector, continue to experience financial stress. This coupled with a high cost of living and delayed payments, has depleted their savings reserves” Muliisa explained.
“It’s because of such hindrances that Stanbic revamped its loans offering to not only allow customers resolve their current financial needs, but also ensuring these loans take them to the next level of their growth.
Stanbic Bank’s Head of Lending Products, Jackson Emanzi, said the “Now-Now loans” campaign will offer personal salary loans, cash advances, unsecured and overdraft loans based on one’s loan assessment.
Meanwhile, customers acquiring the loans using the mobile and internet banking platform will enjoy an annual complimentary personal accident insurance cover and get a chance to enter our monthly draws to win variety of goodies which include; school fees, fuel, shopping and dinner vouchers, Emanzi added.