Enterprise Bank introduces armed forces personnel loan scheme

Enterprise Bank has again tailored its unique products and services to specially cater for armed forces personnel in line with the bank’s avowed desire to continually delight its growing clientele.

The product, named “The Nigerian Armed Forces Special Personal Loan Scheme,” is designed to avail personnel of the Nigerian armed forces personal loans that will enable them bridge financial gaps at discounted interest rates.

Created for officers currently serving in the Army, Air Force and Navy, from the rank of second lieutenant, pilot officer or midshipman, respectively, and upwards, the bank announced in a statement that subscribers to the loan will access various sums, which are available with repayment tenures of 12 to 36 months.

According to the statement, the Nigerian Armed Forces Special Personal Loan is availed against the security of Credit Life Insurance, domiciliation of salary and a third-party guarantee. As a way of making it easy for the gentlemen officers, the statement said the loan repayment will come from the beneficiary’s salary account domiciled with the bank.

Only recently, the bank also introduced “Tertiary Cluster Loan” for staff of all tertiary institutions in Nigeria (including polytechnics, universities and colleges of education).” The loan is also designed to avail their staff (both academic and non academic staff) personal loans that enable them to also bridge financial gaps at discounted interest rates. In that loan category, subscribers stand a chance of accessing funds of between a minimum of N250, 000 and a maximum of N5 million, with a repayment period of up to three years.

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

The introduction of these products is a further justification of the promise of the financial institution to constantly seek new ways of improving the standard of lives and lifestyle of Nigerians and remain the bank of choice for value addition.