Access Bank Plc has introduced salary advance, a product that helps salary earners draw money in advance before salaries are paid.
The bank is doing this in partnership with Remita in which customers of the bank access loans against their next salary payment.
According to Access Bank, “The Payday Advance from Access Bank, in collaboration with Remita does not require any collateral or guarantor, and enables customers to obtain a loan instantly without going to the bank. In this regard, they are able to meet their urgent financial needs before payday.”
Commenting on the initiative, the Executive Director, Personal Banking, Access Bank, Victor Etuokwu, was quoted as saying, “This offering is unique given that the beneficiaries do not have to be existing customers of Access Bank but hardworking salary earners who will now be able to obtain instant loans without a guarantor or stress.”
He added, “Access Bank is known for offering lifestyle products and services that enable its customers meet their financial obligations especially in difficult times