NedBank introduces product enhancement to benefit government employees
By Natasha Jacha
As economic hardships are on the forefront of discussion in both the private and public sector, NedLoans recently introduced a product enhancement for government employees, by increasing the maximum loan to N$200,000 per client, subject to affordability.
Nedbank’s Head of NedLoans, Erastus Haihambo, said the primary purpose of the product enhancement is to respond in a meaningful way to the national crisis of multiple indebtedness attributed to a lack of financial wellness skills.
After the significant rise in the level of household debt coincides historically with many severe economic crises, the bank aims at assisting civil servants to better manage their debt through debt consolidation, he added.
“Although a better deal is achieved when multiple debts are settled so that the client remains with one instalment, it is equally important that we awaken people to the potential risks and consequences, irresponsible borrowing may hold,” said Haihambo.
“This is exactly what we assist our clients with at NedLoans and why the enhancement to the current product was developed. When times are tough, clients start seeking out “easy” loan options as they need immediate relief of credit card debt and other wilful consumption,” Haihambo added.
Meanwhile, NedLoans decided to become actively involved in delivering a village home solution to government employees living in unproclaimed areas who currently are not benefiting from the government housing scheme.
Consumer activist Rob Parker said this could be a good product for civil servants in far-flung rural areas as it’s reaching out “to a segment of the populations who were previously without access to credit.
“Its about time the private sector showed some initiative, and the decentralisation of vital services to the majority of Namibians can only be effective if the civil service cab attract professionals to rural areas,” said the Publisher of Consumer News Namibia magazine, Willem Gariseb
Haihambo, urged clients to check the terms and conditions and make sure they understand it before signing the agreement.
“We take our responsibility of ensuring that the benefits of economic growth trickle down to the everyday Namibian and improve the livelihood of households, and with this product – specifically those who depend on debt,” concluded Haihambo
To apply, permanently employed civil servants with at least three months of service need to contact the nearest Nedloans/Nedbank Branch and ask for a NedLoans officer or NedLoans sales consultant or e-mail to service. [email protected].
Caption: Alternatively, government employees can SMS “Help” to 88188 will be able to establish their qualified amount before going to a NedLoan/Nedbank branch for the application and an array of other services.