Leading home-grown financial institution and commercial bankers, FDH Bank plc says its innovative digital lending solution called Instaloan has eased short-term financing by enabling customers to obtain instant funds anytime and anywhere using their mobile phones.
Speaking in an interview, FDH Bank plc Public Relations Manager, Lorraine Chikhula, said the facility reflects a shift in the banking landscape where convenience is no longer a luxury but a necessity, particularly in a fast-paced, digitally driven environment.
She said the facility allows customers to access up to K700,000 instantly.
“Our Instaloan can be accessed through our mobile banking facility, FDH Mobile, and is available to account holders who will access it within minutes and has a 30-day repayment period,” said Chikhula.
Chikhula said that the Bank remains committed to providing easy access to financial solutions that allow communities to grow with the Bank, and that the solution is a direct response to customer needs in a world that is digital, and convenience is key.
“Instaloan allows customers to cushion financial pressure or manage emergencies with full control without the need to visit the Bank to fill out documentation. The facility can be accessed by dialing *525# or using the FDH Mobile Banking App, meaning customers can access the loan at any point of the day at their fingerprints,” said Chikhula.
Steve Chalera, owner of Ayoze Photography, is a beneficiary who used the Instaloan facility to invest in his business.
“As a creative entrepreneur, access to the right equipment is critical. I had the vision to grow my photography business, but I was limited by the tools I had,” said Chalera.
He explained that the Instaloan facility provided a seamless and efficient solution to his challenge.
“What stood out for me was the convenience. I didn’t have to go to the bank or deal with lengthy processes. Within minutes of applying on my phone, I had access to the funds,” said Chalera.
Chalera used the loan to purchase essential photography equipment, which has since improved the quality of his work and expanded his client base.
“This support has helped me deliver better results and attract more clients. It has taken my business to another level,” said Chalera.
FDH Bank plc is a leading digital bank in Malawi, present in every district of the country, including Likoma Island.
“Our Instaloan can be accessed through our mobile banking facility.”
Lorraine Chikhula
FDH Bank plc Public Relations Manager
