The People’s Own Savings Bank (POSB) has announced the launch of its newest financial product — the POSB Payday Loan — a fast, flexible, and fully automated loan facility designed to give customers the freedom to manage their finances with ease and confidence.
With the POSB Payday Loan, customers no longer need to wait for payday to take care of life’s important moments.
Whether it’s buying electricity tokens, paying rent, covering school expenses, or simply making sure there’s enough for groceries and transport, this new facility ensures that help is always just a few taps away.
The Payday loan is accessible instantly through any mobile phone by dialing *223# (Econet users) or *222# (NetOne and Telecel subscribers), the loan is available instantly, without the need for paperwork, a guarantor, or employer involvement.
This innovative product is a strategic addition to POSB’s growing loan portfolio, offering unmatched convenience and discretion.
Customers can apply anytime, from anywhere, and use the funds however they choose — whether it’s swiping at the till, transferring to a mobile wallet, sending money to a loved one, or withdrawing cash.
The process is simple, secure, and designed to fit seamlessly into everyday life.
“At POSB, we are committed to delivering inclusive financial solutions that meet the real needs of Zimbabweans,” said Mr. Garainashe Changunda, Chief Executive Officer of POSB.
“The Payday loan is a reflection of our promise to empower our customers with tools that offer speed, dignity, and control over their financial lives, no matter where they are or what device they use.”
“The POSB Payday loan is more than just a financial product — it’s a promise of support. It’s for the parent who wants to make sure their child never misses a school trip. It’s for the professional who wants to avoid awkward moments at the checkout counter.
It’s for the entrepreneur who needs to keep business moving while waiting for client payments. And it’s for anyone who values privacy, speed, and reliability in their financial services,”.
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