Stanbic Bank Kenya has officially launched a new deposit mobilisation drive dubbed the “Switch Campaign,” set to enhance banking experiences while offering substantial cash rewards to both new and existing customers. With a grand total of KES 7.2 million allocated for cash prizes, the campaign underscores Stanbic’s commitment to promoting financial inclusion and growth among Kenyans.

Switch Campaign Mechanics and Benefits

The “Switch Campaign” is structured to run over a three-month period, during which Stanbic Bank aims to attract salaried individuals to open new accounts and encourage existing customers to reactivate dormant accounts. Abraham Ongenge, the Head of Personal and Private Banking at Stanbic Bank Kenya, emphasized the bank’s focus on tailored financial solutions. “Stanbic is committed to providing financial solutions that drive growth. In line with this, we’ve introduced a deposit account that not only simplifies the account opening process through our digitised platforms but also offers additional loan and protection services,” Ongenge stated.

Every month during the Switch Campaign, six lucky participants – three new-to-bank (New-to-Bank Salary Switch participants) and three existing clients who increase their deposits – will be chosen to win cash prizes. The monthly rewards will be distributed as follows: KES 200,000 for the winner, KES 100,000 for the first runner-up, and KES 50,000 for the second runner-up. This setup ensures that the benefits of the campaign are broadly shared among participants.

The campaign will culminate in a Grand Draw at the conclusion of the three-month period, with the ultimate prize of KES 1,000,000 awarded to one fortunate participant. Overall, 66 individuals will have the opportunity to win cash prizes throughout the duration of the campaign, making it a substantial incentive for both new and loyal customers.

Enhanced Banking Services

In addition to cash rewards, Stanbic Bank is offering a slew of enhanced banking services. Account holders can conveniently open a Stanbic Account through the Stanbic Mobile App, which facilitates a seamless digital banking experience. A notable feature of the bank’s service offering includes retrenchment cover for as little as KES 200 per month, providing a safety net in case of unexpected job loss.

Further expanding its financial solutions, Stanbci Bank allows customers to access immediate cash advances starting from KES 30,000 and unsecured personal loans up to KES 6 million. For larger financial needs, especially for homeowners, the bank provides home loans up to KES 10.5 million at a fixed rate of 9.5% per annum, with a repayment period extending up to 25 years.

Conclusion

Stanbic Bank Kenya’s “Switch Campaign” not only highlights its innovative approach to banking but also reinforces its role as a committed partner in the financial growth of its customers. By integrating lucrative cash rewards with comprehensive financial services, Stanbic is set to make a significant impact on the banking habits and financial stability of Kenyans. This campaign is a pivotal step in Stanbic’s ongoing efforts to cater to the diverse needs of its clientele, solidifying its status as a leader in the Kenyan banking sector.