StandChart increases personal loan limit to K450,000

STANDARD Chartered Bank Zambia has revised the personal loan limit up to K450, 000 to widen access to finance.

Head of corporate affairs, brand and marketing, Christine Matambo, said the move widened access to finance and the amount of personal financing available to Zambians.

Ms Matambo said the amount clients could borrow had now increased.

She said this in a statement. “The bank has revised the personal loan limit up to K450, 000 -the highest personal loan offering in Zambia. It is the first commercial bank to increase personal loan limits to this level, giving clients greater opportunity to finance their needs and aspirations,” she said. Previously, the personal loan limit stood at K320,000.

Through the bank’s new personal loan offer, she said, clients could also top-up their existing loans, consolidate loans and make balance transfers from any bank in Zambia to Standard Chartered Bank.

Ms Matambo said the clients would also benefit from favourable re-financing at competitive interest rates, amongst others.

“Standard Chartered has pioneered several’ firsts’ on the market, especially in the digital banking space. This year, the bank announced that it is investing over US$850,000 to enhance its digital proposition in Zambia.’’ She Said