Absa unveils new plans and measures set to cushion small businesses and individuals from the financial impact caused by the COVID-19 pandemic.
The bank will be settling supplier invoices of less than Sh.1million in a week and those above the amount in a fortnight.
In a statement sent to the banks’ clients, the move is to help the businesses maintain their cash flows and working capital as well as enable them cope with the virus’s negative impact.
Individual customers with active business and personal loans are encouraged to contact personal banking and relations managers for purposes of working out a new repayment plan.
“We will give you the option to either restructure your loan by reducing the monthly installments for a period of up to a year or take a short-term repayment holiday,” said ABSA to its customers.
Absa also intends to give a cashback of 0.3 percent on every completed transaction via debit card from 25th March 2020, which will be credited monthly.
Clients will further enjoy free transactions from their accounts to mobile wallets until 30th June 2020, with the customer being able to make an Sh150,000 through pay bill No 303030 for free.
PesaLink platform will charge customers zero shillings for transfer of amounts less than Sh1million as well as Mpesa and the Banks virtual banking, Timiza until 30th April 2020.
Customers using ATM for cash deposits have not been left behind as it will be free for amounts not more than KSh 100,000 per transaction.
Financially distressed? Worry not, contact ABSA’s communication department on 0722130120, 0732130120, 020 3900000 or write to communications.ke@absa.africa, and you will be sorted.
