Access Bank Botswana has introduced new banking solution, Salary Advance Loan, an offering that is designed to meet customer needs before month-end. Offered at 50 percent of the customer’s net salary, the loan is available to customers whose salaries are paid to an Access Bank Botswana current account. The loan is payable in 30 days and customers can borrow any amount from P200 to

P50 000 at a 10 percent interest rate.

Access Bank Botswana Head of Retail, Grace Setlhare-Mankanku, said the Salary Advance Loan is a hassle free, digitally accessible, and convenient short-term loan facility. She highlighted that the advent of unfavourable economic circumstances coupled with the after-effects of the COVID-19 pandemic, have had a detrimental effect on the lives of the people of Botswana. “We at Access Bank Botswana have launched this offering into the market with the hope of giving Batswana some much needed financial reprieve.”

She stated that there has been a sharp rise in inflation and with expenses increasing it is difficult for customers to live through the month with their salaries. “Receiving a fixed salary at the end of every month should ideally guarantee financial security, however due to unseen situations; the possibility of facing a shortage of funds often prevails.” Setlhare-Mankanku highlighted that the Salary Advance Loan offering is an attestation that as a financial services partner, Access Bank is committed to delivering bespoke banking solutions that will satisfy its customers’ needs.