The National Building Society (NBS) is launching Pensioners’ Personal Loan scheme.

This loan facility was designed for individuals who receive their NSSA pay-outs, whether as pensioners or beneficiaries, through an NBS bank account. 

To find out more about the scheme, we sat down with the NBS’s Acting Managing Director, Mr Alfred Chaavure (AC) who explained what this entails.

What is the big occasion today?               

AC: National Building Society (NBS) is honoured to announce the launch of the Pensioners’ Personal Loan proudly powered by our shareholder, the National Social Security Authority (NSSA).

Kindly explain what the Pensioner’s Personal Loan is about?

AC: This is a loan facility designed for individuals who receive their NSSA pay-outs, whether as pensioners or beneficiaries, through an NBS bank account. 

Why did The NBS choose to partner with NSSA to offer Pensioners’ Personal Loans?     

AC: We understand that the demands of employment, family, and life in general force many of us to put aside our dreams. 

However, the end of an active working life, is an exciting time, when various opportunities can be pursued, such as starting your own business. 

Thus, NBS was compelled to facilitate Pensioners’ Personal Loans to contribute in some way to making the dream of business ownership a reality for retirees.

What are the benefits of receiving a Pensioners’ Personal Loan?             

AC: These loans are substantial in amount.  Up to 10 times one’s gross monthly pay-out can be given; to a maximum of $100,000. 

It is our belief that the loans can fund income generating projects, such as poultry, horticulture, carpentry, or any other businesses. 

Also, Application requires minimal documentation, and loan processing is efficient, with a turnaround time of 48 hours. 

In Conclusion, what is the NBS’s commitment to its clients regarding this Pensioners’ Personal Loan?   

AC: Let me conclude by giving assurance of NBS’s commitment to responding to the needs of our clients. Open your account today with NBS and enjoy tailored products to suit your financial needs.

The introduction of the Pensioners’ Personal Loan is a demonstration of this.  We look forward to delivering efficient and consistent service to NSSA pensioners and beneficiaries.

Ivan Zhakata

Business Correspondent

In a life transforming arrangement for retirees, National Building Society (NBS) – a subsidiary of National Social Security Authority (NSSA) – has created a tailor-made loan facility for pensioners.

Under the scheme the pensioners will receive loans amounting to $100 000 to fund income-generating projects.

NBS acting managing director Mr Alfred Chaavure, confirmed the development in an interview yesterday. “This is a loan facility designed for individuals who receive their NSSA payouts whether as pensioners or beneficiaries through an NBS bank account,” he said.

“We understand that the demands of employment, family and life in general force many of us to put aside our dreams. However, the end of an active working life is an exciting time when various opportunities can be pursued such as starting your own business.

“NBS was compelled to facilitate pensioners’ personal loans to contribute in some way to making the dream of business ownership a reality for retirees.  These loans are substantial in amount, up to 10 times one’s gross monthly payout can be given to a maximum of $100 000.”

Mr Chaavure said it was their belief that the loans can fund income generating projects such as poultry, horticulture and carpentry among other businesses.

A very good afternoon to you all.

Today, we at the National Building Society (NBS) are excited to introduce NBS Instant Cash to the world!

This Is a local remittance service, that enables anyone to send and receive foreign currency across the country through our branch network.  NBS Instant Cash is a service available to everyone and anyone in Zimbabwe, whether they are an existing NBS client or not.  Thus, it is a product for the people; for breadwinners, beneficiaries such as wives and children, citizens in the diaspora (especially for collection of property rentals), couples and citizens at large.  Organisations, particularly informal sector businesses, SMEs, and churches, can also take advantage of the service to send and receive forex across Zimbabwe.

The benefits of NBS Instant Cash are numerous. 

• You do not need to be an account holder to send or receive forex through NBS.
• At US$2, our tariffs are very competitive and the lowest in the market.
• Customers will find that there is no need to queue at any of our branches in Harare, Bulawayo, Gweru, Mutare, Masvingo or Chinhoyi.
• Through this convenient service, you can send or receive a minimum of US$10 instantly.
• NBS Instant Cash is also a secure method of remitting forex nationwide.

While there are other local foreign currency remittance services in the market, NBS recognised that the ordinary man in the street still faces challenges when sending and receiving forex.  Use of very risky channels remains high, such as requesting travellers to collect or deliver forex on one’s behalf.  Therefore, NBS took up the challenge to create and finetune a service that opens doors to everyone to send and receive forex across Zimbabwe.  Since commencing operations in 2016, NBS has continued to innovate and grow by responding to the needs of the market.  Based on these insights, we are sure that the introduction of NBS Instant Cash will make a smashing entrance on the market and cater to the lifestyle demands of the ordinary Zimbabwean.

I thank you.