Access Bank Boosts Lending with Smartphone Device Financing Scheme

By Adedapo Adesanya

Top financial institution, Access Bank Plc, has unveiled what it called the Device Finance scheme, designed to provide salaried customers with the opportunity to purchase smartphones of their choice and pay over a period of 12 months.

This is part of the bank’s efforts at driving innovative economic digital finance solutions which will provide more Nigerians with access to credit.

According to the Executive Director, Retail Banking, Mr Victor Etuokwu, “Access Bank has taken the initiative to lead the digitization of lending in Nigeria and wants every customer to benefit from the modern connected lifestyle. Through our revolutionary and ground-breaking credit schemes such as Device Finance, we will see more Nigerians get connected to do more in business online and enjoy social lifestyle of their choice. And that is the kind of change that we want to see.”

He made it known that the Device Finance scheme allowes customers to purchase variety of mobile devices ranging from Android phones to iPhones on credit with payment deducted monthly.

“Under the Device Finance scheme, we are offering a variety of smartphones from TECNO to the iPhone series ranging from N12,500 – N325,000, where customers pay anything from N1,500 a month to N30,000 a month, depending on the selected device.

“The Device Finance airtime bundles range from N2,750 – N22,750 and our partnership with MTN allows MTN users benefit from huge discounts, where customers can also get some devices for free by adding the monthly MTN airtime bundle subscription,” Mr Etuokwu stated further.

Speaking more on the scheme, he added that, “Device Finance is designed to finance the purchase of devices under a contract arrangement. The financing scheme currently includes smartphone devices, where customers can enjoy additional benefits with an optional monthly airtime bundle, which can also be converted to data.”

The Device Finance scheme is only available to salaried customers who use Access bank, while interested parties can access the Device Finance scheme platform by downloading the QuickBucks app from their Apple iOS App Store or Google Play Store.