POSB Payday Loan Offers Relief for Everyday Financial Pressures
The People’s Own Savings Bank (POSB) has introduced a new mobile loan product aimed at widening access to short-term credit, providing customers across Zimbabwe with immediate, paperless access to emergency funds.
The facility, known as the POSB Payday Loan, allows users to borrow up to USD100 using any mobile phone—no smartphone or internet connection required.
It is accessible via *223# for Econet subscribers and *222# for NetOne and Telecel users, with no paperwork, guarantor or employer involvement necessary.
Launched to ease financial pressures such as rent, school fees, groceries, and transport, the loan is processed instantly and offers full discretion and instant access.
Customers can withdraw cash, transfer funds to mobile wallets, or swipe at tills—all through a secure, automated platform available 24/7.
According to 263chat.com, POSB designed the product to address real-world needs for fast, dignified credit.
In a statement issued by POSB, Chief Executive Officer Mr Garainashe Changunda said the facility was built around the realities facing everyday Zimbabweans.
“This loan isn’t just fast—it’s liberating. Whether you’re in town or rural areas, with a simple handset or a smartphone, you can access credit without barriers or delay. We’re giving Zimbabweans the power to take control of their financial lives when they need it most,” he said.
Unlike traditional bank loans, the POSB Payday Loan requires no human interaction. Approval, disbursement, and usage all happen via mobile phone, making the process seamless for both digitally confident users and those with limited technical experience.
Mr Changunda added that the facility is designed for everyone—from parents facing urgent school expenses, to workers handling surprise bills, or entrepreneurs navigating delayed client payments. It’s about access without hurdles.
POSB is encouraging customers nationwide to dial the USSD codes and explore the facility. With instant payout, flexible usage and no barriers to entry, the bank says the solution places financial control directly in customers’ hands.
