Letter to the Editor

Stanbic Bank personal loans too slow

Dear editor,
I AM appealing to Stanbic Bank Zambia Limited to revise its personal loan disbursement system.
The bank has been advertising personal loans to its depositors through posters and brochures.
Being one of the depositors at the Ndola branch, I applied for a personal loan early this month.
My application was approved within one week.
Unfortunately, it is now three weeks since my loan application was approved. I am still waiting for the bank to credit the money to my account.
Each time I go to the Cairo Road business centre in Lusaka I am told that I should check the next Friday because the disbursements are done on Fridays.
“Just keep checking. Maybe it will be this Friday, maybe the next,” a consultant would always tell me.
My appeal to Stanbic Bank is that it should only approve loan applications when money is available to save its depositors from unnecessary anxiety instead of subjecting them to waiting indefinitely.

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