Stanbic Bank has launched a campaign that will solely focus on providing quality financial education and money management training to salary earners.
Sylvia Atuhairwe, head of Employee Value Banking directorate at Stanbic says that the three months tailored-made campaign will look at different money aspects including borrowing, investments and saving for retirement age.
“We know the economic situation is quite volatile at the moment where people are living in a situation where interest rates have been going up in the market. We have therefore come up with this campaign, specifically for salary earners to be able to get financial management training,” Ms Atuhairwe said at the launch, saying the campaign will go through Human Resource managers.
Atuhairwe added that the training helps look at different aspects of adjustment that the salary earners should go through from the time of earning their salary until retirement. We need to train them on how to earn money but also how to save, invest and spend it wisely.
“We have come up with affordable loans but also to teach the salary earners to borrow for something responsible and something they have carefully thought about. We are not an institution that just gives people money. We have extended our loan tenure to 84 months to help those struggling with paying too many loans to consolidate them into one and pay flexible installments which reduces the stress on their end.”
Ms. Atuhairwe expressed that as part of efforts to bolster its relations with borrowers, the bank has extended the loan tenure to 84 months to help those struggling with paying too many loans to consolidate them into one and pay flexible installments to reduce the stress on their end.
On her part, Damalie Kairumba, the Manager for Home Loans at Stanbic Bank said the bank has equally designed products to help address the housing gap in the Ugandan real estate market.
“We have done research and over 48% of the customers who take loans now do so to either buy land or construct. Therefore, our home loan offering is to be able to make go to customers whose need is construction which comes with flexible loan tenure of up to 25 years. This means you can be able to get more money and can do something you can start and complete as opposed to running into several cases to borrow money and end up being stressed.”