Ekondo Asset Acquisition Scheme (EKAAS)

 

This is a credit related product. It is designed to enable customers acquire assets without having to deplete their disposable income. The scheme affords customers the unique opportunity of owning assets now and gradually paying down over a period of time.

The customer is expected to deposit 35% of the cost of the desired asset in the account and the bank will make up the balance so the asset can be purchased.

Features and benefits

• Easy credit for customers to aquire assets as Cars, TVs, fridges, etc
• Customers only deposits 30% of cost of assets
• It is tenured for 30,60,90 or 180 days etc
• Can be used as collateral for loan
• Amount above N 2m attracts negotiable interest rates
• May be accepted as collateral