Leading local commercial bankers, Malawi Stock Exchange (MSE)-listed NBS Bank, popularly known as the “Red Brigade”, has launched a new digitized personal loan dubbed “Kachangu” to target its retail clients.

Kachangu Personal Loan comes just two months after the launch of a similar loan called Kachangu Payday to provide easy loan access to customers within 10 minutes.

According to NBS plc’s head of marketing and customer experience, Tamanda Ng’ombe-Longwe, the introduction of digitized lending, accessible on the Bank’s website, reflects the growth of the digital world.

Tamanda Longwe, Head of Marketing and Customer Experience at NBS Bank.

“We are moving towards a digital world where systems, processes and general operations are becoming increasingly digital. NBS Bank wants to move with the changing times by providing a faster and more convenient way to apply for and access loans through our digital banking platforms.

“Kachangu has now gone personal and over time we intend to add more products to create a full bouquet of facilities under the Kachangu umbrella,” Ng’ombe-Longwe said.

According to Ng’ombe-Longwe, apart from applying online, the loan is also convenient for customers since the process to access it does not require paperwork or a visit to bank counters and is approved instantly.

The loan, which targets civil servants receiving a salary through the bank and bank customers at the workplace, offers a minimum cash limit of KK 100,000 and 6 million.

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