KAMPALA – Stanbic Bank Uganda has on Monday rolled out the ‘Now-Now loans’ campaign aimed at offering customers quick and affordable loans to overcome financial challenges in the wake of the Covid-19 pandemic.
The campaign that will be going on for the next 3 months will see customers getting loans at very competitive price rates of 15.9%.
While launching the campaign today at the financial institution’s headquarters at crested towers, Grace Muliisa, the Stanbic Bank’s Head of Personal and Business Banking said the ‘Now-Now loans’ campaign is a new concept derived from the exciting loan offering to be enjoyed by customers.
She explained that this lending solution comes with unique benefits of a low interest of up to 15.9%, insurance cover, and much more much as the rates might be subject to changes based on individual loan assessment.
“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.
He added that all their loan products have been migrated onto their digital platforms making them easy to access in real time at their customer convenience. Those transferring their loans to Stanbic Bank also enjoy a zero management fees.
Customers can now ably cater for their day-to-day needs, pay for essential services like healthcare, education and grow financially thus able to live a decent livelihood.
As the bank that drives Uganda’s growth, Stanbic’s focus is to identify key financial obstacles that stand in the way of their customers from attaining an affordable financial service to enhance personal growth.
Jackson Emanzi, Stanbic Bank’s Head of Lending Products noted that the ‘Now-Now loans’ campaign will offer personal salary loans, cash advances, unsecured and overdraft loans at a low interest rate of up to 15.9% based on one’s loan assessment which is currently the cheapest in the market.
He explained that the purpose of pricing these loans low is to make them affordable and to encourage potential borrowers with urgent cash needs to approach the bank for relief.
These loans are also a crucial financial service that can help boost businesses and enhance the speedy recovery of the economy from the effects of the Covid-19 pandemic.
“With the digital component on these loans, application process will be seamless and efficient without any paperwork. And the funds acquisition quickly without any hustle with the loan disbursed into your Stanbic account in real time thus able to resolve your financial need urgently,” he shared.
Manzi added that with the impact of the pandemic still amidst us, finding financial sources to sustain our day-to-day needs continues to be the biggest challenge.
“Mindful of this urgency, Stanbic Bank has lowered its interest rate and migrated all its lending solutions on to the digital platform to encourage customers in need of a helping hand access them in real time to quickly resolve their issues and carry on with their plans.”
With the ‘Now Now loan’ scheme, 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.
