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I&M Bank Uganda is extending a festive season gift to its customers with a loan repayment holiday, providing much-needed financial relief during the Christmas season and the back-to-school period.
The campaign dubbed ”Nyumirwa Breaktime”, which runs from December 1st 2024 to February 28th 2025 will allow retail loan customers a repayment holiday of up to 60 days before their first installment is recovered.
The announcement was made on Monday, December 2nd 2024, during a launch event at the bank’s Headquarters at KingdomKampala, which was attended by the bank’s top executives, staff from various branches, and valued customers. CEO Robin Bairstow, along with Executive Director and Chief Operations Officer Sam Ntulume, Chief Business Officer Gibson Nangono, Head of Human Resources Lucy Akech, and Head of Marketing & Corporate Communications Annette Nakiyaga, were present to celebrate the initiative.
I&M Bank CEO Robin Bairstow says that the bank is aware of the challenges clients face during the festive season and the back-to-school period, noting that these times often bring added financial pressure.
“I&M Bank is committed to supporting its customers during these challenging times by offering a loan repayment holiday, providing much-needed relief and flexibility, and helping them navigate the financial pressures of the festive season and the back-to-school period with greater ease,” Bairstow said.
During the campaign period, customers will be able to take out loans within the debt service ratio, with the existing interest rates applied to both new and existing customers.
I&M Bank Chief Business Officer Gibson Nangono noted that the offer is available for clients who may need top ups, client who need new loans and even those with already existing loans.
“At the heart of everything we do, our customers are always top priority, and I want to reiterate our commitment to being the bank that supports you, helps you grow, and always on your side. Looking ahead, we’re excited about what’s to come. We are working to improve and come up with new ways to make banking easier, more convenient, and more secure,” Nangono said.
Annette Nakiyaga, Head of Marketing and Corporate Communications at I&M Bank, noted that with this initiative, clients are able to stay afloat with some liquidity to cater to the demands of the festive season, as well as pay school fees and meet various other obligations they may have.
“We believe this campaign will enable our clients to achieve their objectives in a relaxed, stress-free, and planned manner, as the loan repayment holiday offers financial relief and allows them to better manage their finances during the festive season and beyond,” Nakiyaga stated.
To take advantage of the initiative, customers can visit any of the I&M Bank branches.
The launch event was spiced up by popular Afro Soul and R&B recording artist and performer Kenneth Mugabi, who performed many of his best tunes.