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Bank Windhoek announces fast-tracked loan application process amid Covid-19 fallout

Bank Windhoek announces fast-tracked loan application process amid Covid-19 fallout

Bank Windhoek announced that it has put in place a fast-track application process for the deferment of capital and interest payments on term loan facilities, vehicle and asset finance, mortgage loans and overdraft facilities up to N$2,5 million, for an initial period of up to three months.

According to a statement issued this week, the bank said the fast-track process is designed to simplify applications and facilitate quick response by the bank to ensure clients are assisted timeously.

The special arrangements are available to clients who are in good standing with the bank and aims to specifically support SMEs with a turnover of under N$10 million a year, clients in the tourism sector, the agriculture value chain, transport and health sectors as well as clients who may have lost all or part of their salary income due to the fallout of Covid-19.

A customised fast-track application form is available on Bank Windhoek’s website for download and completion by clients.

Furthermore, as part of their Covid-19 relief measures, the bank offers senior citizens preferential interest rates on fixed deposits for periods of 12, 18 and 24 months. The bank confirmed that the return and capital are guaranteed for the period and will not change over the term of the investment.

“We aim to stabilise investment income during these uncertain times. The interest will be paid monthly to a client-nominated bank account. Clients with a Senior Save Account will further benefit from no transaction fees at Bank Windhoek ATMs, free Point of Sale transactions and free access to all electronic channels until the end of April,” Bank Windhoek noted.

Meanwhile, the bank has also identified the informal settlements in Windhoek as communities in urgent need of collective support and thus joined other private sector partners in support of the Mayoral Relief Fund to purchase 10,000-litre water tanks to provide these communities with access to clean and safe water.

This also includes an amount of N$258,000 to translate relevant information about Covid-19 into all vernaculars and to broadcast it on radio services of the NBC, starting on 10 April for three months, or for as long as this information is required. The bank also made available an amount of N$332,000 for testing kits and Nasopharyngeal Swab Collection kits.

Caption: Bank Windhoek’s Executive Officer of Marketing and Corporate Communication Services, Jacquiline Pack.


About The Author

Donald Matthys

Donald Matthys has been part of the media fraternity since 2015. He has been working at the Namibia Economist for the past three years mainly covering business, tourism and agriculture. Donald occasionally refers to himself as a theatre maker and has staged two theatre plays so far. Follow him on twitter at @zuleitmatthys