• Wednesday, February 21, 2024
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BusinessDay

Diamond Bank doles out N1.3bn as reward to Savings Xtra account customers

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Diamond Bank has in the last five years dolled out over N1.3 billion as reward to its Savings Xtra account holders.

Speaking recently at the promo draw for the next set of winners, the bank’s product manager, David Otukpe, who says The DiamondXtra account is designed for individuals who want to build up their savings gradually, further explained that about 2,500 of the account holders had benefited from the reward.

The account is an interest-yielding savings account, which allows the deposit of both cash and third party cheques. In addition, cash can be withdrawn from an ATM, and over the counter using DiamondXtra chequebook from any of the branches. It is a simple and straightforward savings account; that comes with a low minimum opening amount of N5, 000 with free access to all electronic banking services.

The draw, which was held at the Metal and Building Materials Market, Orile Iganmu, Lagos, produced Akeem Bolarinwa, a customer at the bank’s Lagos Island branch, as the winner of the salary for life, that is for the next 20 years. Usma Abdul of Kano branch won N2 million, while 35 others won N1 million each.

The Savings Xtra reward scheme of the bank was borne out of the bank’s vision to promote savings culture, and was also set to commence its sixth edition.

Savings Xtra Reward Scheme season 6, designed to run from December 2013 to September 2014, is an account that qualifies customers who save N5,000 or more in the savings Xtra account to qualify for the monthly and weekly draws.

The scheme is a product of retail banking and directed at the mass market, Otukpe said, adding that the scheme had helped to grow the bank’s customer base.

By: Daniel Obi and  Hope Akporowhe