Access Bank introduces loan for smartphone purchase

Access Bank has introduced a financing scheme for procurement of phones for more Nigerians to get connected to more businesses online and deepen financial inclusion.

Victor Etuokwu, Executive Director, Retail Banking, said in a statement on Wednesday in Lagos that the loan would provide more Nigerians with access to credit under its Device Finance scheme.

The News Agency of Nigeria (NAN) reports that the Device Finance scheme is designed to provide customers on salary income with the opportunity to purchase smartphones of their choice and pay over a period of 12 months.

“Access Bank has taken the initiative to lead the digitization of lending in Nigeria and wants every customer to benefit from the modern connected lifestyle.

“Through our revolutionary and ground-breaking credit schemes such as Device Finance, we will see more Nigerians get connected to do more business online and enjoy social lifestyle of their choice,” he said.

Etuokwu said that the financing scheme currently includes smartphone devices with prices ranging from N12,500 to N325,000, at competitive market prices, spread across a 12-month repayment period.

-NAN