FNBBs Smart Device Loan Set To Boost Digital Banking

FNBB smart devices potential consumers.Pic.Kagiso Onkatswitse
FNBB smart devices potential consumers.Pic.Kagiso Onkatswitse

As the old saying goes, don’t work harder work smarter. The same can be said of the way in which you bank. First National Bank Botswana (FNBB) has launched a Smart Device Loan, a first of its kind in the market which gives customers access to smart devices and enables them to bank digitally and smart.

“Digital banking is no longer something that we can refer to as the “future of banking”. With over 300,000 registered users on FNBB’s cellphone banking alone, it is clear that smart devices offers banking of now. However, we understand that in order for our customers to bank digitally, they need access to the devices that enable this, which is what our smart device loan offer provides,” says Naco Bolote, Head-Consumer Banking.

FNBB has partnered with suppliers of smart devices namely Samsung and Apple to offer customers access to a variety of smart devices including smartphones, tablets and laptops. The Smart Devices offering will work in a similar way to applying for a loan.

It allows customers to acquire a smart device of their choice, which they can then pay for on a monthly basis for a period of 24 months at very competitive interest rates.

“We are pleased to note that the interest rate on the smart device loan is very market competitive. It compares favourably to the hire purchase system. The Smart Device Loan was initiated with affordability and inclusiveness of our different customers in mind,” added Bolote.  

Customers will be advised on which smart devices are available and they will make their choice based on their affordability. They are allowed to buy up to two devices of their choice with no upfront deposit. All they need to pay is an initiation fee of P100. Our supplier partners will then deliver the device to the customer wherever they are within five working days of the order at no extra cost. The devices are offered with the manufacturers’ full warranty.

“With continuous interest and growth of our smart device offer and digital banking, we will be able to offer more value, convenience and cost-savings to our customers, reducing the dependency on cash, building on our digital ecosystem and digital lifestyle,” concludes Bolote.

Thanks to technology, FNBB has been able to put services and solutions in place that help customers to bank easier, more effectively and that exclude having to visit a branch.

“We are constantly on the look-out for innovative and convenient products and services which our customers can integrate into their day-to-day lives, and smart devices have become a big part of that.

Technology is available to make our lives more manageable, and at FNBB, we pride ourselves in being able to provide simplistic and affordable solutions to our customers,” concluded Bolote.

The Smart device loan is available at Airport Junction Branch, First Place Branch, Kgale Branch, Riverwalk branch and Francistown Branch.

Editor's Comment
What about employees in private sector?

How can this be achieved when there already is little care about the working conditions of those within the private sector employ?For a long time, private sector employees have been neglected by their employers, not because they cannot do better to care for them, but because they take advantage of government's laxity when it comes to protecting and advocating for public sector employees, giving the cue to employers within the private sector...

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