Ecobank Malawi has unveiled an unsecured personal loan facility of up to K15 million to civil servants to be repaid in 36 months.
In a statement, Ecobank Malawi country head of consumer banking Sophie Kalambule said the unsecured personal loan seeks to avail a quicker and affordable financing option for all government employees across the country.
She said: “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.”
To apply for a loan, a civil servant has to fill an application form and present their national identity card, without a letter of undertaking or changing one’s pay point.
“Within minutes customers will be advised of the total loan they can afford and monthly instalments applicable.
“Upon approval, funds will be disbursed in their account within 48 hours,” said Kalambule.
To increase easy access of the loan, Ecobank Malawi has come up with an online pre-application form where upon filling in required details, applicants will be contacted.
Ecobank Malawi Limited is part of the Ecobank Transnational Incorporated, the parent company of the Ecobank Group, which employs over 14 000 people and serves about 29 million customers in the consumer, commercial and corporate banking sectors in 33 African countries.
Kalambule: We have streamlined the loan application process