Faulu Bank has developed a range of financial products tailored to the unique needs of its women clientele.
With over 108,000 female customers, the bank already offers a comprehensive range of financial solutions aimed at supporting women.
These include business banking, training on financial wellness, education, insurance, and investment.
For the professional woman, the bank provides an array of products designed to provide financial stability and security.
These include access to finance for emergencies, education policies for children, easy access to their funds, investment channels, among others. Core products such as Faulu personal loans, salary advance, and salary accounts have been developed to meet the specific needs of working women.
Entrepreneurial women are also catered to through the Biashara SME Loans, and a range of other offerings designed to support business growth and sustainability.
Also Read: Faulu Bank expands its digital offering, agencies for youthful customer base
Products like LPO financing and Digi Loans provide short-term financing solutions while investment accounts offer avenues for long-term wealth creation.
Agriculture-based Products for Women
The bank offers specialized products such as the Nafaka Inputs Loan, Kilimo Bora Loan, and Maziwa Loan to facilitate farming practices.
It also provides agricultural insurance and financial literacy training focused on enhancing agricultural productivity.
Family-based products for Women
For the family-oriented woman, the bank’s products such as the Elimika Education Plan and Afya Imara Health cover ensure peace of mind by addressing education planning and healthcare needs.
The Lady Auto Cover provides comprehensive insurance for private cars with special extensions catering to various contingencies. In times of loss, Faulu Bank stands by its clients, offering support through products like the Faulu last respect cover, ensuring that loved ones receive a befitting sendoff during challenging times.
“Women are a very important segment of our clientele and we are constantly evaluating their needs to come up with products that transform their lives and their families,” said Faulu Bank’s Acting Chief Executive Officer.
“Our tailored financial solutions are designed to meet the diverse needs of women, empowering them to achieve their goals and aspirations.”
Women make up 49.6% of Kenya’s population. At least 31.4 % of the formally licensed SMEs and 61% of the informal SMEs are owned by women, making them a core demographic for the banking business.
