Thursday , March 28 2024
Home / Business / Stanbic Bank launches ‘Now-Now loans’ to boost businesses post-COVID

Stanbic Bank launches ‘Now-Now loans’ to boost businesses post-COVID

Grace Muliisa, Stanbic Bank’s Head of Personal and Business Banking

Stanbic Bank to support customers and boost business with affordable loan offerings

Kampala, Uganda | THE INDEPENDENT | Stanbic Bank Uganda has today launched 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.

All Stanbic’s loan products have also been migrated onto digital platforms, making them paperless, easy to access in real time and at customer’s convenience. The plan includes enabling those transferring their loans to Stanbic to enjoy zero management fees.

Announcing the new ‘Now-Now Loans’ package, Grace Muliisa, the Stanbic Bank’s Head of Personal and Business Banking said the campaign will offer exciting loan offerings tailored to suit businesses getting back on their feet after the COVID-19 pandemic effects.

“This lending solution comes with unique benefits of a low interest of up to 15.9%, insurance cover, and much more. However, the rates might be subject to changes based on individual loan assessment,” Muliisa said.

“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.

She added, “What this means, is that they are unable to cater for their day-to-day needs, pay for essential services like healthcare, education and grow financially thus unable 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 our customers from attaining an affordable financial service to enhance personal growth.”

Muliisa also noted, “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.”

Sam Mwogeza Chief Financial Officer , Cathy Adengo Head of Corporate Communications ,Jackson Emanzi Head of lending , Grace Mulisa Head of Personal and Business Banking , Sam Bulenzi Ag Head of Products, Israel Arinatwe Head of Personal markets pose for a photo after the launch of Now Now loans at Stanbic Bank Headquarters at Crested Towers

Stanbic keep your dream plan alive

Anne Juuko, Chief Executive Stanbic Bank Uganda was confident the new loan would keep many dreams alive.

“We know that the previous year was a difficult one for each and everyone but we, at Stanbic Bank are telling you not to put your dreams of buying a car, land or starting that side-hustle on hold. We believe this year comes with new possibilities and with Stanbic Bank as a financial partner, it all can be,” Juuko said.

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 at a low interest rate of up to 15.9% based on your loan assessment which is currently the cheapest in the market.

“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,” Emanzi said

He further noted, “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.

Also, 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.

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.

Stanbic Bank Uganda is a member of the Standard Bank Group, Africa’s largest bank by assets. Standard Bank Group reported total assets of R1,98 trillion (about USD128 billion) at 31 December 2015, while its market capitalisation was R184 billion (about USD11,8 billion).

The group has direct, on-the-ground representation 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 deep insights into the countries where it operates.

6 comments

  1. IWANT 2MILLION LOAN TO EXPAND MY BUSINESS

  2. Big up Stanbic for loans that have helped me continuously since 2005.
    Now covid-19 has been a set back to me. Have 1.1 acre in Lira City that needs surveying and want to start a small dairy business here in Bugembe JINJA to boost my earnings and support my children at school.
    I have a 60 months running salary loan for now about 10 months.
    Is is possible to get a top up of about 4M to enable me achieve the above?

    Thanks

    OGWANG PATRICK
    A/C: 9030000902631

  3. I have a/c with stanbic bank Moroto branch,a/c 9030005969726 Allah Wakil building constructors supply Enterprise LTD,I need aloan of 6000000 ,currently am in mbale to buy building materials,payment within one month,Can stanbic Mable branch help mi

  4. hello everyone
    I just got a hacked card from darkerwebcoinbase@gmail.com containing 550,000.00 usd .
    I am so happy that all my debts have been settled .you should give them a try if you need quick cash..
    Terms and conditions apply though.

  5. Fred David kasozi

    Good morning laddies and Gentlemen am a poultry farmer and my business was hit hard with covid effect I tried on my own to keep up to date to support the business naye wapi so I have come to the bank requesting your assistance to benefit rom this now now loan offer to get my business back to its feet.only 6millon is what I ask for.i hold an account with you.

Leave a Reply

Your email address will not be published. Required fields are marked *