Monthly Archives: February 2021

Stanbic Bank Uganda on Monday launched a new campaign called ‘Immediate Loans’ aimed at providing customers with quick and affordable loans to overcome financial challenges in the aftermath of the Covid-19 pandemic.

As part of the new campaign, bank customers and non-customers will be able to apply for a loan within two minutes.

The loan itself will be processed within six hours, according to Grace Muliisa, head of personal and business banking at Stanbic Bank.

Muliisa told reporters in Kampala that the campaign, which will run for 90 days, will see clients acquire quick loans for an interest rate as low as 15.9% per annum.

However, these loans will only be accessible through the bank’s digital platforms such as online banking and mobile USSD code.

“We understand that the impact of the new Covid-19 pandemic still exists. Many people, both in the private and public sectors, continue to experience financial stress. This, coupled with a high cost of living and late payments, has depleted their savings reserves, ”explained Muliisa.

“It is because of these obstacles that Stanbic has revamped its loan offering to not only enable clients to solve their current financial needs, but also to ensure that these loans take them to the next level of their growth.

Stanbic Bank’s loan product manager Jackson Emanzi said the “immediate loans” campaign will offer personal salary loans, cash advances, unsecured loans and overdrafts based on the loan valuation.

Meanwhile, customers who acquire the loans using the mobile and internet banking platform will receive free annual accident insurance coverage and have the chance to enter our monthly draws to win a variety gifts, including school fees, fuel, vouchers and dinner vouchers, Emanzi added.

From time to time, one needs to access a short-term credit facility without a tedious process to settle emergencies or pursue emerging opportunities.

In response to market demand, Cogebanque introduced Gisubizo Loan Express, an unsecured facility that meets the short-term financial needs of the bank’s customers to cover expenses such as medical bills, utility bills, fees. schooling, auto repairs, and vacations, among other needs.

Gisubizo Loan Express eligibility conditions include regular monthly income with a contract with an employer, business partner or client.

The Bank also requires that a borrower have proof of regular monthly income for at least the last three months, be prepared to commit up to 50 percent of their monthly household income, and have a TransUnion report. clean (CRB report).

Gisubizo Loan Express allows borrowers to access up to fifteen times their net income with a loan repayment term of up to 5 years.

In addition, borrowers can also get Cogebanque credit cards with an interest free period of up to 55 days.

The bank says the loan has a quick turnaround time, which is in part due to the less stringent requirements and renewed focus on the bank’s retail customers. The loan has a flexible repayment schedule which is based on the ability to pay and no penalties for clients who wish to repay it before the end of the term.

The lender also has other quick loan products such as overdraft facilities for employees to be repaid through a cover account upon receipt of the next salary or spread over months.

The lender’s overdraft facilities are intended for employees who receive their salary in Cogebanque accounts and can be useful to finance various expenses.

Customers who previously worked with other banks can submit their original bank statements from the last three months showing the salary credit history.

Present in the Rwandan market for over 20 years, the institution has constantly upgraded its services, products and financial solutions for the consumer segments of business, SMEs and retail.

Cogebanque has many service delivery channels such as branches (28), ATMs (36), internet banking, mobile banking (USSD & Mobile Wallet), a Mastercard provider in the country, a chip payment card, branch banking services (Over 600 agents across the country) and points of sale across the country.

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