By Linda Kwanjana

NBS Bank Plc plans to incentivize both existing and potential customers to open new accounts and increase deposit balances using the ‘Savings Always Wins’ promotion which is reaching out to a wider audience in an interactive manner while emphasizing the benefits of saving and winning with the Bank.

The promotion which started in June has three tiers on minimal deposits to ensure representation of customer segments. The first band has a minimum deposit of K50,000, while the second has deposits ranging from K100,00.00 to K499,999.99, and the last one consists of deposits above K500,000.00.

Grand winner in the first band category will walk home with K1 million and K3.5 million for the second band category winner while the third band category winner will be K6 million richer when the promotion closes in October this year.

“Customers who make a single deposit within any of these bands will gain entry into the promotion. To be eligible for the monthly draw prizes, customers must consistently deposit amounts falling under each tier monthly. The prizes will only be available and valid after two months of these consistent deposits while at least maintaining the minimum balance of that tier,” said NBS Bank Head of Marketing and Customer Experience Tamanda Ng’ombe Longwe.

She said additional deposits during the promotion will count as a second entry, increasing the customer’s chances of winning in the draws.

“Customers should also note that consistency in deposits of their respective bands monthly, are the only way they can be eligible for the grand prize. Customers can also move from one band to the next by depositing an amount greater than the minimum deposit for the higher band. For example, a customer in Band 1 who deposits and maintains a balance greater than MK 100,000.00 will be considered part of Band 2. However, customers cannot lower their balances below their initial deposit to gain entry into the competition. Therefore, a Band 3 customer cannot drop down to Band 2,” explained Ng’ombe Longwe.

The Bank plans to maintain customer excitement and raise awareness by having two bi-weekly draws with multiple winners receiving small prizes. The Bi-Weekly draws will be done in the middle of the month as well as month end. The two draws for the monthly prizes will be conducted in the final two months of the promotion leading to the grand prize draw, according to Ng’ombe Longwe.

A Blantyre based businessperson Waza Mazibuko said he was excited with the promotion and wants to participate.

“I do not have an account with NBS Bank but this promotion has excited me and I will open an account with them so that I participate in this promotion,” said Mazibuko.

The promotion was launched on June 25th and ends on October 20th this year.