Online Reporter
Sikhulekelani Moyo, Zimpapers Business Hub
PEOPLE’S Own Savings Bank (POSB) has launched a new POSB Payday Loan product, offering customers a fast, flexible and fully automated loan facility designed to provide financial convenience. The new product allows customers to access funds for various needs without waiting for payday, including purchasing electricity tokens, paying rent, covering school expenses or handling daily needs like groceries and transport.
POSB chief executive officer Mr Garayinashe Changunda said the bank remains committed to delivering inclusive financial solutions that address the real needs of Zimbabweans. “The Payday loan reflects our promise to empower customers with tools that offer speed, dignity and control over their financial lives, regardless of their location or device,” he said.
Mr Changunda explained that the POSB Payday Loan goes beyond being just a financial product. “It’s a promise of support – for parents ensuring their children don’t miss school activities, for professionals needing discreet financial solutions, for entrepreneurs managing cash flow between client payments, and for anyone who values privacy in their financial transactions,” he said.
The new product forms part of POSB’s expanding loan portfolio, offering convenience and discretion. Customers can apply anytime, anywhere and use the funds as they choose – whether making card payments, transferring to mobile wallets, sending money to others or withdrawing cash. “The process is simple, secure and designed to fit seamlessly into everyday life,” Mr Changunda added.
Notably, the service doesn’t require a smartphone or internet connection, making it accessible to all customers regardless of their technical proficiency. “Applying takes just minutes, whether you’re tech-savvy or not,” the CEO said. The bank emphasized that the POSB Payday Loan represents its commitment to providing innovative financial solutions that meet the diverse needs of its customers.
Bongani Ndlovu