STANBIC BANK LAUNCHES STUDENT LOANS FOR HIGHER EDUCATION

Stanbic Bank Head of Personal Markets, Lilian Mtali addressing a press conference in Dar es Salaam yesterday to announce the bank’s new offer to students seeking financial assistance for University education. Looking on is the bank’s head of products, Nachona Hussein.

Stanbic Bank Tanzania has announced its new offer to students seeking financial assistance for University education.

The offering comes at an opportune time when there is an overwhelming need to support large numbers of students wanting to pursue higher learning.

This significant move by the bank is illustrative of its commitment to developing human capital as underscored in the Second Five Year Development Plan (FYDII) as a pillar that is critical to the transformation of the economy into a middle-income country.

Speaking during a press conference in Dar es Salaam yesterday, the bank’s Head of Personal Markets Lilian Mtali said, "as Stanbic Bank, we are excited to make a meaningful contribution towards fulfilling and empowering the dreams of prospective graduates through our Student Loan offer. It is a flexible solution that allows parents to support their children’s higher learning needs by meeting their financial obligations for fees, books and accommodation."

Parents or guardians will apply for the loans which have a quick turnaround time and offered at preferential terms and conditions.

Additionally, to nurture and instill a sense of independence and responsibility, future graduates will be offered a cost free transactional account to manage their financial affairs.

“We want to support students in their journey to acquire knowledge and skills and at the same time support them in managing their personal finances. Stanbic is a customer-centric bank that continues to offer tailor made solutions that meet the needs of our customers and enables them to succeed,” said Ms. Mtali.