Ecobank Malawi has extended unsecured personal loans of up to K15 million on a 36-month tenure to civil servants, including those who are not the bank’s customers.
This is according to Ecobank Malawi’s Country Head of Consumer Banking, Sophie Kala Mable, who said the unsecured personal loan, seeks to avail a quicker and affordable financing option for all government employees across the country.
Kalambule further said the bank is always committed to providing service that will see many livelihoods improving, hence the loan which she said will help many of their customers and also civil servants to achieve their goals.
“At Ecobank we always put the interest and needs of Malawians and our customers at heart. With this client centred innovative loan, we have streamlined the loan application process to easily cater for any civil servant banking or not banking with us.
“We believe that this loan will go a long way in fulfilling dreams and plans for many Civil Servants,” Kalambule said.
The Country Head of Consumer Banking further indicated that to apply, the civil servant needs to only fill an application form and present their National ID with no need for a letter of undertaking or changing one’s pay point.
She also mentioned that within minutes, applicants will be advised of the total loan they can afford and monthly instalments applicable and further says upon approval, funds will be disbursed in their account within 48hrs.
According to Kalambule, the tenure of 36 months drives up the affordability making it possible for more civil servants to get loans of substantial amounts of up to a maximum of 15 Million Kwacha.
To increase easy access of the loan, the bank has also come up with an online pre-application form where upon filling in the necessary details, customers will be contacted to advise them of their affordability.
Follow us on Twitter:
