Ecobank strengthens customer base with Ecobank Advance Account

As part of efforts toward providing excellent customer services, Ecobank Nigeria has introduced Advance Account, a product that gives its beneficiaries financial freedom.

Head, Assets and Liabilities Products, Ecobank Nigeria, Nike Kolawole, while briefing the media in Lagos described the product as an exciting new product in the Nigerian market aimed at addressing the real and present needs of customers of the bank.

Kolawole also said that the product is a current account that provides prompt personal loans to salaried account holders, which addresses a real and present need across Ecobank’s chosen customer segments.

“This product will further strengthen the relationships we have with our salaried customers and open up new opportunities to grow our customer base.

To enjoy the benefits of the account, an individual must be an employee of approved target market names and shall maintain salary account with Ecobank.

Features of the account are: Personal loan up to  50 per cent  of expected net monthly salary after all loan deduction, with  maximum limit  of N2 million; and  tenor of  one year with a 30 days clean up cycle; Beneficiaries would have received at least one month salary with Ecobank before the limit on the salary account would be set;  Each drawdown by the customer shall be fully repaid with the next salary of the obligor.

Other features are: Interest rate of 24 per cent  per annum;  Processing fee of one per cent ( flat) of the utilized amount but not less than N1,000 only; and

a monthly flat fee of N300 shall be charged on the account of the customers upon signing up for advance account.

Benefits of the account include: Branded Ecobank Advance Account Debit Card (this will attract discount on purchases made via our Loyalty scheme with key vendors); Branded Ecobank Advance Account Cheque book; Internet banking facility; SMS alert, e- alert, e-bank statement;  and Standing Order Instruction.

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Ecobank strengthens customer base with Ecobank Advance Account