Standard Bank has launched the ‘Pa Mawa’ promotion aiming to encourage Malawians to save, whether it be saving for a wedding, building a home or your child’s education and numerous occasions throughout the year.
The promotion presents customers the chance to start the New Year on a financial high by launching a new savings /investment promotion, Pa Mawa, in which customers will win back as much as K5 million in prizes for saving a minimum of K50,000 or more in their accounts
Announcing the offer, Sales and Service Manager Frank Chirwa said Pa Mawa aims to encourage a saving culture amongst Malawians whose deposits of K50,000 or more will also earn an interest of 11 percent per annum.
“A good beginning makes a good ending. Through this promotion, we would like to ignite the habit of saving or putting aside something towards future plans and building wealth. We believe that a great year is the one that starts with a savings plan, and for one to save enough in the next 11 months, they need to start saving early,” Chirwa said.
Chirwa said Pa Mawa is in line with the bank’s strategy to move the lives of Malawians forward, by giving customers an opportunity to make saving a habit.
“Block by block, bit by bit, people can build their financial haven through a savings or investment plan. Pamawa Promotion has been designed to reward those customers, whose 2018 resolution is the pursuit for personal financial freedom and happiness through adhering to a frugal, saving. It is our hope that we will inspire future thinking and we encourage young couples to open joint accounts in preparation for specific projects or alternatively open minor accounts for their children’s future,” he said.
He said the bank will give out over K5 million in cash prizes to lucky customers during the promotion with two people carting home K1 million each as grand prize.
“Make savings a habit with Pa Mawa campaign. It will be good to look back and see how much every coin you set aside has done .Set aside something every month and realise your financial dreams,” he noted.
To enter the Pamawa Promotion, all customers need to do is to keep K50, 000 for a month as one entry.
The grand prize of K 1 million second prize K500,000, third prize K250,000 for three personal banking customers and another grand prize of K1 million second prize K500,000, third prize K250,000 for three (SME?) enterprise banking customers.
Monthly regional top prize of 100,000 for 3 customers (one from north, center, south) and a second regional monthly prize of 50,000 for 15 customers (5 from north, 5 center, 5 south prizes.
The promotion will run for a period of 3 months ending 3rd April, 2018.
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