CBZ Bank has introduced an instant loan facility called Payday loan. The facility is open to CBZ clients and is disbursed within 24 hours. CBZ Bank introduced the product after realisation that clients require bridging finance to cover immediate financial emergencies. There are many reasons to get a Payday loan like an unexpected hospital bill or a necessary car repair. The Bank ensures that these loans are processed instantly to minimise inconveniences.
The loan amount that clients can qualify for is up to 50% of the net salary. The facility is available to CBZ individual clients and non-CBZ customers are required to move their salaries to CBZ to qualify for the loan. The product can be accessed by civil servants, uniformed forces, and those in the private sector. The loan is repaid within 30 days at an affordable interest rate.
CBZ Bank remains committed to giving its valued clients products that are relevant to their needs and the introduction of this product is a clear testimony to this. There is no need to get assistance from unregistered money lenders at exorbitant rates when CBZ has got this instant loan.
The Bank also offers a number of personal loan facilities depending on the need and they have a repayment period of up to 36 months. These loans are quite substantial and can be used to finance long-term financial needs.