Standard Bank rewards K1 million to customers for savings

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 3^rd April, 2018.