“This we have learned will go a long way in ensuring financial ownership amongst business men and women; as a result, increase the spirit of saving amongst them,” she stressed. Giving a synopsis of the three categories, the Head of Business Banking highlighted that the first category is “Molleloa”, which is meant for small enterprises with a turnover of M300 000 annually. According to her, this type of an account is affordable as it allows businesses to make transactions, deposits and other transactions at a minimum of M60 per month.
The second account is “Letsema”. It targets those in partnership to open an account with free management fee. “Here the society is guided by its constitution and other members view money transactions being made by chosen members online,” she stressed. The third category is where individuals are given a loan of at least M5000 within a period of 24 hours. This she said is meant to boost and support local businesses. SLB, like its competitors locally, aims to arouse the interest of its clientèle with the aim to attract more customers. Amongst other things, the bank also engages in corporate social responsibility as a way of giving back to the society.
Lena
