Ecobank Unveils Back2School Loans, Remittances Scheme

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Ecobank unveils Back2School Loans, Remittances Scheme
Ecobank Nigeria has announced a special scheme on Back2School loans and remittances for all its customers.Ecobank unveils Back2School Loans, Remittances Scheme
Korede Demola-Adeniyi, Head, Consumer Banking, Ecobank Nigeria, claimed that the loan offers have been devised in order to give customers the financial independence they deserve and in light of the bank’s appreciation of the value of education.
She emphasized that the bank has constantly demonstrated its dedication and support across various client categories by stating that as part of the program.
Ecobank will also be giving Back2School gifts to customers when they receive inflows for school fee payment into their domiciliary accounts.
According to Mrs. Demola-Adeniyi, both new and existing individual customers of the Bank can benefit from the scheme emphasizing that this is the ideal time to open an Ecobank account or reactivate dormant ones in both local currency (LCY) and foreign currency (FCY) to enjoy all the benefits of the Back2School Scheme.
“According to her, “we are aware that our customers are diverse with different needs and belong to different segments of the society hence we are always coming up with initiatives like this to cater to our various target markets”.
In a similar gesture, the bank is providing FCY inflows with favorable rates, whether they are fixed deposits or funds pledged as loan collateral.
The head of consumer products, Mrs. Daberechi Effiong, when discussing the scheme’s dynamics noted that loan offerings are available to all client categories, including those with paid and self-employment.
“Customers can either opt for the Employee Credit or Cash backed Back2School scheme based on their cashflow.
“The Cash backed scheme gives customers access to competitive interest rates on their funds while accessing the Back2School loan. For the Employee Loan, customers can access up to N20 million for the purpose of school fees payment. The low-cost loan also comes with flexible tenors”, she added.
Mrs. Effiong listed the benefits of the Back2School scheme as follows:
  • Convenient repayment with flexible tenors to match customers’ cashflow,
  • Competitive interest rate on loans,
  • Competitive interest rate on deposits for cash backed loans and FCY inflow,
  • Exciting Back2School gifts,
  • Additional N5 per dollar on remittance inflows received and easy access to other loan products including the Buy Now Pay Later scheme with SPAR.

She advised those seeking further enquiries to do so via the Bank’s social media platforms, the contact centre or send an email to AllENG-ConsumerProductsTeams@ecobank.com.