As a way to promote Saving culture among people in Malawi, a financial institution, Finca Malawi has launched a “Kufewa ndi Finca Promotion”.
Making the announcement during a press briefing on Monday in Blantyre, was Finca Malawi’s Marketing Manager Takondwa Chirwa who said through Kufewa ndi Finca promotion, the money lending institution wants to encourage customers to make the best of their earnings by saving in either PHINDU Savings or FINCA fixed deposit accounts.
“Times are hard and we just want to help our customers to be able to do their businesses and improve their livelihoods,” said Chirwa.
She explained that customers who place a Fixed Deposit minimum of MK50,000 for at least three months or deposit at least MK20,000 into a new or existing Phindu Savings Account stand a chance to win monthly cash prizes while one winner will walk away with a grand prize of up to MK300,000.
“Every month, one customer will win 100,000, three customers will win K50,000 each, five customers will win K20,000 each and other consolation prizes while the grand prize for the promotion is pegged at K300, 000 to one lucky customer.
“A customer can stand a chance to win a monthly cash prizes of K300,000 in the Kufewa ndi Finca promotion if he or she places a fixed deposit minimum of K509,000 for at least three months or at least K200,000 into new or existing Phindu Savings account.
She added that Phindu saving has soft and flexible terms which makes it affordable for everyone.
“With only K1,000 customers can open their accounts and save their earnings. Further, the account has no monthly charges but earns a higher interest rate which makes it the best for all Malawians.
“FINCA’s fixed deposits account offers lucrative interest rates with optional upfront interest for its fixed deposit account. This means a customer can cash out the interest and use it as working capital. The goals is to make customer’s life softer and better, ” explained Chirwa.
However, Chirwa was quick to admit that their business has heavily been affected by the economic challenges claiming most of their customers are registering losses in their businesses thereby affecting Finca too.