First Capital Bank, FCB, one of Malawi’s leading financial institutions has launched a special farming season loan product ‘Tiyeni ku Munda’ — targeting Malawi government civil servants only.
The bank launched this under the theme: ‘Feed the Harvest with a First Capital Bank Loan’, which is a response towards the approaching farming season, whose rains are picking up. Criteria are that they must possess valid national IDs; stamped bank statements and do not need any other collateral.
This was disclosed in a press release from Twikale Chirwa, the FCB’s head of marketing.
It further states that;
“First Capital Bank would like to remind its customers that with a loan of up to K3 million, processed within 48 hours, they can secure a harvest that can feed their families and generate additional income.
“With a loan from First Capital Bank, beneficiaries can qualify for affordable means in order to meet this farming season’s needs.
“First Capital Bank Malawi continues to support its customers by providing credit to civil service employees of the Government of Malawi, which is deducted through the centralized Malawi Payments Solutions.
“The targeted market is civil servants who are First Capital Bank customers as well as non-First Capital Bank account holders at competitive interest rates; no upfront charges.
“Top-up facility is available and First Capital Bank can consolidate existing loans with other institutions, credit life and funeral cover.
In October — as the new academic year approached – First Capital Bank also offered loans for civil servants to assist them to pay school fees for their children and wards — also with access of up to K3 million and a maximum repayment of 60 months based on affordability.
This was towards the Bank’s campaign aiming at assisting children’s
In addition, this gives the customers the option of becoming banked by FCB, which is not concentrated in one place only as it is spread out all over the country.
“The loan can be used for purchasing of personal assets, school fees, farming, business, expansion or start-up, consolidation of debts and other general purposes,” he had said.