Standard Chartered Introduces Flexible Payment Plan for Customers

By Ashemiriogwa Emmanuel

Customers of the Standard Chartered Bank Nigeria (SCBN) Limited with credit cards can now purchase items from stores and pay in instalments as the banking institution has introduced a new initiative called Easy Payment Plan (EPP).

The lender, in a statement, explained that the EPP, a flexible payment plan, allows its credit cardholders and new clients that sign up for the credit cards to choose an instalment plan at a reduced interest rate for bulk purchases made.

The Head of Personal Banking and Alliance, Mr Bonaventure Odukwe, further explained that customers can spread the repayment of items purchased at their favourite stores in equal instalments for a period ranging from three, six, nine to 12 months at a reduced interest rate of 1.5 per cent each month.

He also added that the solution allows customers to earn reward points when they make purchases and discounts at select merchant locations.

According to him, “EPP attracts no processing or liquidation fees and gives our esteemed clients the opportunity to enjoy the lifestyle that they want now while ameliorating the stress of paying at once.”

“For us, this is one of the many ways that we continue to offer value to our clients, support their financial goals and reiterate that we are here for good,” he added.

Mr Odukwe noted that the EPP solution was one of the many ways in which the bank brings convenience and flexibility to its customers.

SCBN is a subsidiary of Standard Chartered Plc, a company listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.

The parent firm is a leading international banking group, with around 70,000 employees and a 150-year history in some of the world’s most dynamic markets.