Ecobank loans up to K15 million to government officials – Malawi 24
Ecobank Malawi has extended unsecured personal loans of up to K15 million with 36-month repayment terms to government officials, including those who are not customers of the bank.
That’s according to Sophie Kala Mable, Country Head of Consumer Banking at Ecobank Malawi, who said the unsecured personal loan aims to be a faster and more affordable financing option for all government employees across the country.
Kalambule said the bank always strives to provide services that will improve many livelihoods, so the loan she said will help many of its customers, as well as officials, achieve their goals.
“At Ecobank, we always focus on the interests and needs of the Malawians and our customers. With this customer-centric, innovative loan, we’ve streamlined the loan application process to easily accommodate any civil servant who may or may not bank with us.
“We believe this loan will go a long way towards fulfilling dreams and plans for many officials,” Kalambule said.
The Country Head of Consumer Banking went on to point out that to apply, the officer only needs to fill out an application form and present their ID card, with no affidavit or change of paying agent required.
She also mentioned that within minutes, applicants will be informed of the total loan they can afford and the applicable monthly installments, and goes on to say that once approved, the money will be deposited into their account within 48 hours.
Kalambule said the 36-month tenure increases affordability, allowing more officials to obtain substantial loans, up to a maximum of 15 million kwacha.
In order to facilitate access to the loan, the bank has also developed an online pre-application form in which customers are contacted after filling in the required details to inform them of their affordability.
Follow us on Twitter: