LILONGWE-(MaraviPost)-Standard Bank Plc is proud to announce that it is experiencing steadygrowth in new customers and loan uptake, thanks to the Switch your Salary and Win promotion.
Speaking during the first draw of the promotion in Lilongwe, the bank’s Head of Personal Banking Takula Kapalamula said during the first month of the promotion, the bank experienced a growth by 14% in
new customers switching their salary accounts to Standard Bank and 4 percent on loans processed.
“We are glad to note a 14% increase in new customers joining the Bank and 4% more loans processed and approved since we launched this promotion.
“Switch your salary and Win is aimed at engaging customers through the bank’s value proposition, advanced solutions, and improved service. The cash prizes were deliberately chosen so that winners can then direct funds to their most urgent needs,” he said.
Kapalamula said the promotion encourages Malawians to move their salary accounts from other banks to Standard Bank, which in turn takes over their loans and offers a flexible repayment of up to five years.
Existing account holders need only open a Pure Save account.
“At Standard Bank, we have solutions and services that Malawians from all walks of life, can benefit from in their day-to-day financial needs, while also supporting clients to plan for their current and future aspirations.
“To enter this promotion, customers need to switch their salary to Standard Bank. The Bank has made the switching process more convenient and flexible with an extended repayment for loans of up to five years,” he said.
New customers gain access to Standard Bank’s 247 digital platforms which remove the hassle of physically visiting the banking hall every time one needs service and support.
The four-month promotion will see clients winning cash prizes every month and a grand prize of K10 million will be given at the end of the promotion.
“One of the major points of inquiry by most clients and stakeholders was how one can move their loan to Standard Bank. We can do this in 6 steps, where we need an official correspondence from the other institution holding a customer loan.
“After calculating affordability and relevant credit checks we can issue a loan takeover. Thereafter processing loans even before a salary is switched, as we use the letter of undertaking from an applicant’s employer,” added Kapalamula.
Kapalamula urged clients to open a Pure Save account to increase their chances of winning.
Standard Bank has vowed to continue driving the growth of Malawi and remains committed to continuously transforming lives through its product and service portfolio.
Centered on the Bank’s global network, wide local physical network, globally accepted caras and class leading digital services.
The focus moving forward is on ensuring a simplified onboarding process, with the objective of giving customers the best banking experience.
