As another school year beckons, Stanbic IBTC Bank PLC, a member of Stanbic IBTC Holdings PLC, has introduced a suite of educational payment products that will ease the burden of school fees which parents and guardians have to bear. Stanbic IBTC Bank PLC, being a Nigerian bank, specifically developed the educational products, taking cognisance of the country’s cultural nuances.
The first of the solutions is the EZ cash loan/advance. Parents and wards who are strapped for cash at the point when school fees payment are due, can take advantage of the EZ cash loan which gives access to loans, in less than a minute, to pre-approved customers.
Salaried employees can also take advantage of Salary Advance (SALAD), another of the bank’s short term loans that are quick and easy to get. Another of Stanbic IBTC Bank PLC’s educational products is an international money transfer solution for payment of school fees and allowances abroad. Added to that are prepaid cards which can be preloaded with pocket money for children/wards, while the credit cards, which currently offer a 55-day interest moratorium, can be used to seamlessly pay school fees.
Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Bank PLC, said that the bank attaches a high premium to learning, hence the need to develop solutions which parents and guardians can take advantage of to ensure that their wards get the desired level of education. Read more