Specialised Services
At Standard Lesotho Bank, we understand that different industries have their own unique challenges. Our Specialized Services consultants can help you avoid the pitfalls and achieve business success
Some of the benefits
Secure
Reduce your exposure to risk with our hedging products
Electronic Banking
Do your own banking, wherever you are
Convenient
Providing the services you need
Affordable
Competitive Interest Rates
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Insurance Premium Financing
What is it?
A short term loan designed for the upfront payment of insurance on asset held by the business. (comprehensive insurance)
Features
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- Loan amount – minimum amount M2,500, maximum amount M100,000
- Repayment term- 12months
- Proceeds of this loan are paid directly to the insurance company against the insurance premiums due.
- Variable Interest rate; Bank’s prime lending rate + Risk based rate
What does it offer me?
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- Acquisition of insurance cover for all the company’s assets, even-though they are not under any kind of lease or loan obligation with the bank.
- Ensures that the business benefits from relief availed on the cash flows.
- Eases cash flow pressure associated with the requirement for upfront insurance premiums payment.
What do I need to apply?
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- 3 months business transactional account(pre-requisite)
- Management accounts
- Financial Statements
- Cash Flow projections
- Instruction letter requesting a loan.
How much will it cost me?
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- Once off establishment fee
Point of Sale
What is it?
This is a system that allows processing of payments and management of inventory it can be a hand held device of integrated device.
Features
Handheld POS Devices
- State of the art Point of Sale devices that are completely portable
- Device is capable of using an extended battery
- Communication happens via Simcard, WIFI
Integrated POS Devices
- A versatile PIN PAD that connects to the till system
- Enables reconciliation at the merchants back-end system
- Access to a web-portal where merchants can view transactions that occurred
What does it offer me?
- Access of up-to-date sales and inventory information anytime
- Acceptance of MasterCard, VISA, Diners Club International
What do I need to apply?
- Valid Traders licence
- Valid Tax clearance
- Proof of ID
- Proof of residence
How much will it cost me?
- POS standard monthly merchant commission
- Monthly rental
- GPRS Enabled Communication Monthly Fee
Society Account (LETSEMA ACCOUNT)
What is it?
It is a savings account specifically designed for groups of people with the intention of saving for a particular purpose; these could be stokvels, grocery societies, burial societies, social clubs and investment clubs.
Features:
- Minimum opening balance M300.00
- Free monthly management fee
- Minimum operating balance of M300.00
- Free cash deposit fees up to M240,000.00 per annum
- Free e-statements
- Earn interest on balances
What does it offer me?
- Multiple Payment and Deposit: Facilitates various payment methods, including wire transfers and electronic funds; making it easier to manage transactions.
- Online and Mobile Banking: Provides online banking features, allowing for the customer to manage account, pay bills and track expenses conveniently.
What do I need to apply?
- Constitution.
- Resolution signed by all executive committee members expressing desire to open account and detailing signatories and signing arrangement.
- Valid IDs or Passports of all executive committee members.
- Proof of residence of all executive committee members.
- Proof of business address.
If the constitution is not registered, additional documents are:
- Minutes of a meeting where executive committee was elected; the minutes must reflect the elected committee members by names and portfolios.
- Signed attendance register.
SME Trader Loan
Running a business as an SME can be tough, especially when you don’t have the cash reserves of a larger business. An SME Trader Loan is a short-term loan to help cover your immediate cash flow needs and keep you operating through the difficult times.
Letter of Credit
Certain suppliers need you to prove that you will be able to pay for a shipment before they accept the deal. A Letter of Credit is a promise from one back to another that the money will be paid into the suppliers account, guaranteeing that they will get paid.
We are a leader in our sector
Speak to one of our advisers about the best products for your needs