Standard Bank has conducted the first draw of its Savings promotion dubbed ‘Pa Mawa’ that aims to encourage a saving culture amongst Malawians.
Launched in January 2018 the promotion presents customers the chance to start financial high by in which customers will win back as much as K5 million in prizes for saving a minimum of K50,000 or more in their accounts.
Speaking during the draw at Standard Bank Head Office in Lilongwe, Bank’s Head of Personal Banking & Channels Effie Malange said the promotion has received overwhelmed response which demonstrate that customers have embraced the habit of saving.
“We are pleased that our drive towards adoption by our valued customers has received positive response. Over 11,000 customers have participated so far and as a bank we would like therefore to play a role in promoting and advancing saving and investment culture in order to contribute to nation building and wealth creation,” she said.
Malange said Pa Mawa promotion was launched to reward customers in pursuit of personal financial freedom and happiness
“Banking in fixed deposit, Contract Save and Pure Save Account, our customers can achieve their dream while earning interest rates of up to 11%,” she said.
She said Pa Mawa is a continuation of bank’s strategy to move the lives of Malawians forward, by giving customers an opportunity to make saving a habit adding that Customers can open a PureSave (Saving account) account using Internet Banking.
“Customers can open a Fixed deposit , Contract Save and Pure Save account on their own through our new Enterprise online ( For Business customers) New Internet banking , new mobile banking (*247#) and App 247 at their own convenience,” said Malange.
During the first draw the bank rewarded 18 customers with cash amounting to over K1 Million for saving a minimum of K50,000 in the month of January.
The bank will give out over K5 million in cash prizes to lucky customers during the promotion with two people carting home K1 million each as grand prize.
To enter the Pamawa Promotion, all customers need to do is to keep K50, 000 for a month as one entry.
The grand prize of K 1 million second prize K500,000, third prize K250,000 for three personal banking customers and another grand prize of K1 million second prize K500,000, third prize K250,000 for three enterprise banking customers.
Monthly regional top prize of 100,000 for 3 customers (one from north, center, south) and a second regional monthly prize of 50,000 for 15 customers (5 from north, 5 center, 5 south prizes. The promotion will run for a period of 3 months ending 3rd April, 2018.