Ecobank Nigeria has teamed up with the Nigerian Consumer Credit Corporation (CrediCorp) to offer affordable and flexible loan options tailored to meet various customer needs, including school fees, rent, maintenance costs, medical bills, car purchases, asset financing, and more.
Announcing the initiative, the bank revealed that the program is available to civil servants and private-sector employees whose salaries are paid through Ecobank. New customers can also access the facility by presenting an employer’s undertaking to channel future salaries through Ecobank.
CrediCorp, a federal government-backed development finance institution, will fund the initiative, while Ecobank will handle loan disbursement. The partnership extends to personal loans and asset financing for items like solar systems, electronics, laptops, and vehicle conversions to compressed natural gas (CNG).
Adeola Ogunyemi, Head of Consumer Banking at Ecobank Nigeria, highlighted the initiative’s potential to enhance financial access for Nigerians. She said, “This collaboration is a fantastic opportunity to improve the quality of life for salary earners. Eligible customers can finance essential expenses such as school fees, rent, and car repairs, or acquire items like solar systems and electronics.”
The loans feature affordable interest rates, a two-year repayment term, and a fixed monthly repayment plan that remains stable regardless of economic conditions.
