{"id":54181,"date":"2022-05-09T14:33:47","date_gmt":"2022-05-09T14:33:47","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/all-news\/stanbic-cuts-interest-rates-on-loans"},"modified":"2022-05-09T14:59:04","modified_gmt":"2022-05-09T14:59:04","slug":"stanbic-cuts-interest-rates-on-loans","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/stanbic-cuts-interest-rates-on-loans","title":{"rendered":"Stanbic cuts interest rates on loans"},"content":{"rendered":"

Africa-Press – Tanzania. <\/strong><\/span>STANBIC Bank Tanzania has lowered interest rate on unsecured salaried loans for the public sector to 12.5 per cent. The bank said in a statement that it had lowered the interest rates in a campaign that will run for three months.<\/p>\n

The bank new interest rate comes at a time when the government is looking at measures to maintain economic growth despite the impacts of the Covid-19 pandemic and the world facing rising fuel and commodity prices.<\/p>\n

Stanbic Bank\u2019s Head of Consumer and High Networth Clients Omari Mtiga, said for three months public sector workers can access unsecured salaried loans for a 12.5 per cent interest rate that will be issued within 48 working hours. \u201cOur aim is to ensure that there is quick and seamless access to loan services to ensure that our customers can fully benefit from the campaign period and beyond,\u201d he is quoted as saying in the statement.<\/p>\n

He added that the bank has decided to cut interest rates to provide credit to its public sector customers, which would help boost their income and the nation economy as a whole.<\/p>\n

\u201cWe understand the role played by public servants in the dispensation of public services throughout the year and their unwavering dedication to ensuring that they offer quality service. With this review, we seek to assist them to achieve their personal development goals which we believe, will help to boost morale and enhance effectiveness in their official undertakings,\u201d he said.<\/p>\n

Recently named Tanzania\u2019s Bank of The Year by The Banker Magazine and Best Investment Bank by EMEA Finance, Stanbic bank\u2019s focus on the public sector seeks to support the government achieve its socio-economic growth ambitions<\/p>\n

For More News And Analysis About Tanzania<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. STANBIC Bank Tanzania has lowered interest rate on unsecured salaried loans for the public sector to 12.5 per cent. The bank said in a statement that it had lowered the interest rates in a campaign that will run for three months. 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