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Standard Bank launches public servant account

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By Emmanuel Simpokolwe:

Standard Bank has introduced a public servant account which will allow government employees to have free ATM Card, access to loan, flexible comprehensive car insurance and funeral plan options.

The move, according to the bank’s head of consumer and high network Charity Mughogho, aims at transforming Malawi into a wealthy and self-reliant nation.

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Mughogho disclosed this on Wednesday in Lilongwe at a press briefing.

She said the account, for a start, they will focus on the Executive branch, Legislature, Judiciary and the security arms of the government who are also collectively called civil servants.

“The account has been designed specifically for the public servants to suit their needs and support their investment now and in the future. This is a milestone for all civil servants and gives practical solutions to the savings, investment and insurance needs of our clients,” Mughogho said.

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Senior Deputy Director responsible for Human Resource Management and Development, Moses Chiwoni, said the initiative will help government employees contribute to economic growth.

“The bank has made life easier for public servants by solving all their needs in one package and, in essence, created holistic solutions,” Chiwoni said.

The public service account will enable clients to access 70 percent home loan financing of up to K200 million repayable in 20 years, personal loan with extended payback period from three to five years, 100 percent car loans financing among others.

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