Other benefits of the promotion include an unsecured loan of up to UGX250 million accessible within two minutes using Stanbic Mobile Banking service and a cash-back of UGX500, 000.
A total of 100 winners will benefit from the cash-back offer.
Cashback winners will be chosen through separate draws conducted via select radio stations across the four regions of the country and announced every two weeks.
According to Israel Arinaitwe, the Acting Head, Consumer & High Networth at Stanbic Bank, the promotion is building on the success of the ‘Get It Done’ loan campaign to make it possible for Stanbic customers to finance their projects in a convenient and timely manner.
“We are unveiling these opportunities at a time when parents are returning their children back to school for the third term and also addressing those circumstances where our clients and individuals need an urgent financial boost as the year comes to an end,” said Israel Arinaitwe.
“The loan tenure of 84 months means that customers who get salary loans during this period can pay back smaller installments and have more disposable income to attend to their daily needs as the economy improves. The increase in the loan tenure also gives our existing borrowing customers an opportunity to consolidate their loans with us, top up and pay back in affordable loan repayment amounts,” he adds.
Explaining the waiving off arrangement fees and cash back Arinaitwe said, “0% arrangement fees reduces the cost of borrowing. This has been waived for loan buyoffs, new salary loans and top-ups for existing customers. The cash-back offer is to give clients a boost and support them to attend to their recurrent needs during this challenging interlude.”
The promotion will benefit customers from different sectors including education, agriculture, health, security, manufacturing, Oil & Gas, housing/real estate and tourism – both private and public sector.
Stanbic remains committed to delivering products and solutions that are attuned to the current extraordinary tough economic times, keeping the customer at the center “of all we do and ensuring that with us, it can be, and dreams can be achieved.”