Teachers are living in an economy that is rapidly changing and the cost of living that keeps increasing at a rate higher than that of their salaries.
Educators through online tutoring on platforms such as Chegg, small-scale farming, and taxi services operating on weekends have diversified their income streams to meet the rising financial demands such as school fees, emergencies, and asset purchases.
Observing this situation, Family Bank has redefined itself as a financial institution that provides interesting and creative ways to finance and grow the business ventures for teachers.
Financing with Teacher Needs in Mind
By using the TSC Check-Off Loan for the staff at the Family bank, the bank can loan up to 6 million Kenya shillings to educators at a very competitive interest rate of 14.95% and for the repayment periods going to 11 years. In this way, teachers get long-term obligations handled in a convenient manner while preserving their financial freedom.
In case of an existing loan, the Top-Up Loan alternative enables the account holder to enjoy the privileges of the loan and concurrently obtain further funds without going through the whole process of a new loan, thus, if teachers require extra cash for small business growth or hushed emergencies, this would be a perfect solution.
Innovative Ways of Empowering Teachers
The main idea underlying the vision of life according to Family Bank, “With You, For Life,” is the bank’s commitment through thick and thin to empower these people and educators notified as public servants.
Teachers can avail themselves of these loans and become such SMEs as poultry farms or boda boda businesses thereby providing ridesharing and enjoying the low prices of the interests that range between 10–13%.
Family Bank has also made digital innovation the core of its work and has thus made it possible for teachers through the PesaPap application and mVisa to carry out immediate transfers, receive payments from freelancing, and stock purchases smoothly and in a very efficient way. Just imagine after-hours online gigs or running e-commerce ventures would become so simple and easy.
Embracing Financial Education for Long-Term Success
With a commendable workforce employee rating of 3.8/5 and a good performance in the area of SME support, Family Bank can be distinguished as the most dependable partner who really identifies with the financial journey of the teachers.
Family Bank is not merely a bank to Kenyan teachers but a hustling enhancer.
To apply. visit the nearest branch or call 0703 095 445