Stanbic IBTC unveils digital paperless loan for borrowers
Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings PLC, has launched a smart digital paperless loan solution to enable customers and borrowers who have an account with their asset management arm access quick digital loans to meet their medium-term financial obligations.
The bank, in a statement on Friday says the devaluation of the naira due to the global economic downturn has reduced disposable income as more naira is required to maintain the current level of expenditure and consumption.
It stated that the digital paperless loan facility will come in handy for many Nigerians, especially those in emergency need.
It is available to customers with a mutual fund investment with Stanbic IBTC Asset Management and they can access up to N10 million loan instantly.
In a remark, the Chief Executive, Stanbic IBTC Asset Management, Oladele Sotubo, said, “The smart digital loan product is designed to help provide our customers with the necessary financial support of up to N10 million to meet their medium-term financial responsibility, while also positioning them on a path to long-term financial stability.
“We understand the need for constant cash flow and its relevance to our livelihoods and households.”
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