STANBIC Bank Limited is disbursing up to K120 million per personal loans for its clients mainly in formal employment.
And the bank has partnered with Tafika Zambia Limited to provide mortgages to enable people buy houses from Tafika’s Lusaka project.
Stanbic head of marketing and public relations Kamiza Chikula said the loan arrangement has so far received overwhelming response with an average disbursement of 75 loans per day.
Mr Chikula was speaking in an interview at the 85th Agricultural and Commercial show whose theme is ‘Shaping Tomorrow’s World’ in Lusaka yesterday.
He said the disbursement process is efficient saying within 48 hours a loan application is approved and money given out at attractive interest rates.
Commenting on the housing partnership, Mr Chikula said the alliance, which was done since inception of the Tafika projects, highlights many benefits on behalf of the housing firm.
He said the finance is done in two different pricing ranges of the houses.
He said the project has so far received overwhelming response and almost running out of space.
The Tafika residential estate is a secure community, housing consisting 178 residential marionette units.
The townhouses are arranged into blocks of eight units each. Each duplex has a living area of 80 square metres and comprises lounge, dining area, kitchen – storage/laundry room, master bedroom – second bedroom, upstairs bathroom and enclosed backyard.
Included in the price of the maisonette is a fully fitted bathroom and kitchen, floor finishes (ceramic and carpet tiles), built-in closets and retractable washing lines.
In addition, each unit has its own allocated parking bay with garbage collection points, security guard houses and security fencing.
The firm has two projects in Foxdale and Chinika townships.
Meanwhile, the bank plans to open Lumwana and Kabwe branches in the next three weeks to provide banking services to the under-served.
Mr Chikula said all logistics towards the official opening of the two branches are almost in place.
He said the opening of the branches is in line with the bank’s policy to extend banking products and services to as many people as possible.
The bank is also optimistic that with the country’s reclassification of lower middle-income status and the assignment of the B+ credit ratings, the banking industry is poised to register massive growth.
“We focus exciting moments for the bank with the country’s continued positive economic growth,” he said.
[Zambia Daily Mail]
Good times yet to come with MMD is power no f.o.o.l.i.s.h cheap promises!MMD moving the country forward.
Nafuti Nafuti!!!
thats good news indeed.housing investment is the only way forward. Viva stanbic!!!!
What taking Zambia forward? I am in formal employment earning a net pay of K1,000,000 (less than food basket requirements). Can I access a meaningful mortgage? These loans are for thieves/plunders. What kind of counttry is this where only t
he aforementioned have their heads above the water?
mmd extra measure for you
This is how people should acquire houses, go to the bank borrow and buy a house, not Sata’s method of building all kaponyas free houses. The housing makert should be left to work this way and should be left to develop. Viva RB
Is K120,000,000=00 enough to buy such houses?
I am NOT pro MMD, but UPND but here I am giving credit where its due. Well DONE!!!!!!
NAFUTI NAFUTI NO 4 GO TO SCH AND ADVANCE YOUR EDUCATION WHY SHOULD YOU GET 1M WHEN YOUR FORMER CLASSMATES R EARNING MORE THAN 10M PULL YOUR SOCKS MY DEAR GOVT WONT BUY EVERYTHING EVEN UNDERPANTS U MUST BE GIVEN FOR FREE?GALAMUKANI
Good point mwana (No 9),this guy should go to school(#4),If he cant manage,us will continue managing to buy houses!!!sha!!!
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