Diaspora Account
For Malawians living or working outside the country, Standard Bank offers its tailored diaspora account. A highly secure and affordable account which allows Malawians in foreign countries to manage their development or investment financing back home. We also enable you to remit funds back to Malawi through a special foreign currency denominated account.
Some of the benefits
Access on the go
Use your account from anywhere as long as you have internet
Access to Loans
Invest in housing, business and assets through your account
Competitive Rates
Affordable pricing to ensure best value
Security
Your funds are always safe with us and all transactions are secured
How to apply
Submission must include the following information from applicant:
- Certified copy of passport
- 2 passport sized photos, scanned and attached
- Residential permit
- Certified proof of income – payslip, employment contract or any other document
- Account opening forms
Complete application forms with supporting documentation should be sent to [email protected]
For inquiries email [email protected]
Who can apply?
You must be a Malawian Citizen
- Must be aged between 18 and 65 years old
- Must be a Malawian citizen with a National ID or Passport
- Should be able to submit proof of regular income
- Note: Terms and conditions apply.
Benefits
- Dedicated Private Banker
- No minimum book balance
- No administration costs
- Free mobile and internet banking access
- Free email alerts
- Free inwards telegraphic transfer
- Free online purchases
What you get
- Free Transactional Account - Available in all the currencies and supported with Malawian investment options. The diaspora account allows you to choose between a single or joint account that comes with a debit card which can be activated for use internationally. The account carries no management fees with same day delivery of inward telegraphic transfers.
- Access to loans - The account gives clients the option to purchase a home valued up to MK200 million, depending on credit scoring. Clients also have the option to build their dream home without the stress, as the bank works with accredited property developers to manage the project for you. If you already own a home, you can opt to access equity release to free up capital tied in an existing house. Equity release financing goes up to 70% of the home value.
- Access to Insurance – Diaspora account holders can choose from various bancassurance products. These include funeral cover, loan protection cover and home owners insurance. To ensure full coverage clients can access travel insurance and vehicle insurance as an asset protection option.
- Access to Digital solutions – With the account and funds held customers are able to transact through Standard Bank’s online banking portal, 247 digital application and the Unayo App from anywhere in the world.
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How to apply
-
Who can apply?
-
Benefits
-
What you get
Submission must include the following information from applicant:
- Certified copy of passport
- 2 passport sized photos, scanned and attached
- Residential permit
- Certified proof of income – payslip, employment contract or any other document
- Account opening forms
Complete application forms with supporting documentation should be sent to [email protected]
For inquiries email [email protected]
You must be a Malawian Citizen
- Must be aged between 18 and 65 years old
- Must be a Malawian citizen with a National ID or Passport
- Should be able to submit proof of regular income
- Note: Terms and conditions apply.
- Dedicated Private Banker
- No minimum book balance
- No administration costs
- Free mobile and internet banking access
- Free email alerts
- Free inwards telegraphic transfer
- Free online purchases
- Free Transactional Account - Available in all the currencies and supported with Malawian investment options. The diaspora account allows you to choose between a single or joint account that comes with a debit card which can be activated for use internationally. The account carries no management fees with same day delivery of inward telegraphic transfers.
- Access to loans - The account gives clients the option to purchase a home valued up to MK200 million, depending on credit scoring. Clients also have the option to build their dream home without the stress, as the bank works with accredited property developers to manage the project for you. If you already own a home, you can opt to access equity release to free up capital tied in an existing house. Equity release financing goes up to 70% of the home value.
- Access to Insurance – Diaspora account holders can choose from various bancassurance products. These include funeral cover, loan protection cover and home owners insurance. To ensure full coverage clients can access travel insurance and vehicle insurance as an asset protection option.
- Access to Digital solutions – With the account and funds held customers are able to transact through Standard Bank’s online banking portal, 247 digital application and the Unayo App from anywhere in the world.
Application forms and key documents
We also offer
Home Loan
Become a home owner today with our Home Loan. This mortgage also allows you to finance the improvement or refurbishment of your existing home, or buy out and transfer an existing mortgage from another Bank. Want to know more about this loan?
Home Loan Protection Plan
This Home loan insurance covers your home loan debt against your death or permanent total disability. In these circumstances, the outstanding amount owing on your home loan will be written off and the Bank will no longer have an interest in the property.