Enterprise Bank Limited has announced the introduction of loans to its clients in various universities across the country.

The bank said the move was part of its quest to meet the needs of customers operating in different strata of the society

The product called ‘The University Staff Cluster Loan’ is designed to avail staff of Nigerian universities (both academic and non academic staff) personal loans, which will enable them to bridge financial gaps at discounted interest rates.

 According to a statement from the bank on Friday, subscribers to the loan will also stand a chance of accessing funds of between a minimum of N250, 000 and a maximum of N5m, with a repayment period of up to three years.

Aside from that, the product will also allow lecturers, especially, professors to access the loan even at the age 65 years.

The statement by the Head, Corporate Communications, Enterprise, Olusola Longe-Okenimkpe, said, “One of the unique selling points of the product is that the subscriber can take the loan immediately ahead of transferring his preferred salary account to Enterprise Bank. In addition, beneficiaries of this unique financial support from Enterprise Bank will also enjoy credit life insurance on their facility, which will protect their families from liabilities in the event of death.”

“With this loan, university personnel can also receive an enhancement under our Enterprise Top-Up Loan facility, which is available after 12 months of consecutive regular servicing of the loan.”

According to the bank, the latest product is part of the financial institution’s plan to continually seek new ways of improving the lives of the general public.

Source: Punch