NBS Bank plc has signed a memorandum of understanding (MoU) with Build Africa to enable the bank’s customers to buy goods in the shop on loan.
Speaking after signing the MoU in Blantyre on Thursday, NBS Bank products manager Esnart Nchembe said the MoU will allow customers to get a 24-month loan which will give them an opportunity to buy merchandise in the Build Africa shop.
She said: “To access this loan, customers who receive salaries from NBS Bank are supposed to bring national identity, pay slip and quotation for products from Build Africa shop and we will assist them to access the loan if they qualify.
“This product will assist our customers to plan finances well as there are many expenses during the festive season which strain budgets.”
Build Africa marketing and corporate affairs manager Atupele Stambuli said the partnership will enable NBS Bank customers buy high-quality merchandise.
“We have noticed that times have changed and this facility will allow NBS Bank account holders to purchase products on loan at a low-interest rate of 21.7 percent,” she said. n