NBM rolls out loan packages for Icam members

National Bank of Malawi (NBM) plc in partnership with the Institute of Chartered Accountants (Icam) yesterday rolled out special tailored packages for accountants to allow them to access loan products at reduced rates.

Under this partnership, Icam members who earn K2 million and above will automatically be invited to the premium platinum club while those who earn K500 000 and above will automatically be invited to premium gold club.

The two groups will stand a chance to get a general purpose loan of up to K20 million with a maximum repayment period of 48 months.

Accountants in the age ranges of 18 to 35 years and whose salary is between K300 000 and K1 million, will automatically qualify for a product called Step -Up Professional Product.

Speaking during the launch in Blantyre yesterday, NBM Henderson Street service centre manager Tamara Mtuwa said the Malawi Stock Exchange-listed bank is looking for financial solutions to help its customers.

She said: “This special package for accountants targets those accountants registered with Icam whose salary has been consistently received through their National Bank account. If the salary is not received through National Bank account, then they need to open an account with us.

“Through this product, they will be able to get a loan at a reduced premium of 8.1 percent, which is on the lower side.”

Icam acting chief executive officer Charles Chimpeni asked its members to be innovative.

He said: “We urge the members to not only depend on employment income but to be entrepreneurs to create new opportunities in the economy. “The product the bank has introduced will help our members to access finance for various reasons and one of them will be opening businesses.”