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Kampala, Uganda | THE INDEPENDENT | Stanbic Bank has unveiled its new “Oli Sorted” campaign, offering Ugandans 100% home financing alongside a variety of other financial solutions. This 90-day initiative, timed with the back-to-school season, allows parents to borrow up to Shs 350 million in unsecured personal loans for school fees and related expenses.
Israel Arinaitwe, Head of Personal Banking at Stanbic Bank, noted that the campaign is a response to customer feedback. “We are responding to feedback from customers who want to own homes and need longer repayment tenures,” he said.
The campaign also targets small and medium enterprises (SMEs) in need of capital for restocking or expansion. Customers applying for credit during the campaign will benefit from zero arrangement fees, ensuring they receive the full loan amount.
In addition, the campaign extends benefits to those banking with other institutions. “Customers from other banks can open accounts with Stanbic and transfer existing loans to take advantage of our offers,” said Salim Kitagenda, Head of Products at Stanbic Bank.
Parents paying school fees through Stanbic platforms stand a chance to win up to Shs 500,000 in cashback, while school administrators can secure up to Shs 3 billion in operating capital. Albert Yiga, Head of Education Sector Banking, highlighted the various rewards available for head teachers, bursars, school directors, parents, and agents. “The campaign will award insurance policies to 45 schools and offer medical insurance cover for up to Shs 18.8 million per person,” he said.
Dogo Singh, Principal Insurance Manager, emphasized the importance of insurance in protecting assets, people, and businesses. He mentioned that, in partnership with Liberty Life, the campaign offers free medical checkups for parents and children who pay school fees through Stanbic. “The child medical insurance provides coverage up to Shs 18.5 million for an annual premium of Shs 600, 000,” Singh said.
