In a world where financial independence plays a crucial role in shaping one’s future, SBM Bank (Mauritius) Ltd has taken a bold step towards empowering the young generation. Recognizing the challenges faced by young adults when navigating their financial journeys, the bank has introduced the groundbreaking ‘Step Up at 18’ campaign.
Beyond purely commercial offers, there are banking solutions that have a more social dimension. At SBM Bank (Mauritius) Ltd, since the beginning of 2023, several new offers have been added to the range of banking facilities for individuals. These include the ‘Zero Interest Medical Loan Scheme’ and a special home loan offer for households with monthly incomes below Rs 100,000. Recently, the bank introduced a new exclusive offer for 18-year-olds, providing them with multiple advantages to help them on their financial journey.
The ‘Step Up at 18’ campaign has been specifically designed for young people born in 2005—those who have already turned 18 or will reach 18 this year. It is a package that offers several benefits upon opening a bank account with SBM Bank.
“It is a way for us to help young people capitalize on the Rs 20,000 Independence Allowance announced in the 2023–2024 budget. Our teams have worked on a formula that includes competitive interest rates on the SBM Achiever study loan, a special offer on microfinance loans, as well as a free workshop on entrepreneurship,” says Mr. Percy Philips, Head of Retail Banking at SBM Bank (Mauritius) Ltd.
The free training workshop, organized by the SBM Academy, aims to explain the basics of entrepreneurship to young people. “It can be challenging to understand the steps to start a business, and this training will precisely show young people the journey to becoming entrepreneurs, regardless of the field they choose,” Mr. Philips adds. Young individuals interested in taking advantage of this offer can visit the bank’s website, www.sbmbank.com, or the official SBM pages on social media to learn more about the ‘Step up at 18’ offer. They can also visit the SBM branch of their choice for further information.