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Standard Bank woos clients to take loans


Seabata Mahao

Standard Lesotho Bank (SLB) has kicked off a lending campaign from March to May this year, urging clients to consider taking out loans to meet their urgent financial requirements.

During this limited-time opportunity, clients have the option to apply for personal loans, vehicle and asset finance loans, or home loans.

Building on the success of the campaign introduced in 2023, the bank has relaunched the initiative, offering prizes to fortunate customers as an incentive.

Teboho Sello, the Head of Personal Banking at the bank, highlighted the success of their previous campaign, which ran from May to August 2023. During this period, the campaign disbursed M5.6 million in cashback incentives to hundreds of clients who successfully repaid their loans.

“The second edition of the lending campaign, following its successful launch in 2023, has made a lasting impact on individuals and businesses, fostering financial empowerment and community development,” Sello said.

He said the lending campaign aims at comprehending the needs of customers and the requirements needed to make them enjoy what the bank offers.

“We are currently giving back M11 million in insurance cash back to thousands of Basotho who took Unsecured Personal Loans with us several years ago. A customer who takes up an Unsecured Personal Loan with a minimum loan term of four years and payback their loans consistently without defaulting and or doing redraws, receive a guaranteed 15 percent of the total insurance premiums as cash back at the end of loan term.”

He said they also have digital loans, where customers are able to get loan offers on their digital gadgets and get an instant loan at a click of a button, with life and funeral covers, where in the event of death the bank pays off the entire loan and gives the balance to the family.

“I urge our customers to leverage on this campaign period and on our benefits-loaded lending value proposition to take up loans, transform their lives and build better future today. We remain committed to make lending not only easily accessible but also more rewarding, and this is congruent with our purpose,” Sello added.

Neo Macheli, one of the bank’s clients who won a M20 000 cashback prize in 2023, stated that he took a personal loan to fulfil his dream of building a home for his family. He then used the money for other projects until he repaid it all.

“I received a call from SLB requesting me to a meeting at their branch in Maseru Mall. Upon my arrival there I was rewarded with a cashback of over M20, 000 for just paying my loan,” Macheli explained.

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