Stanbic IBTC Introduces Educational Payment Products To Usher Students Back To School

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 loansthat 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.

He said: “We are a Nigerian bank and we realise that whilst parents and guardians may have desired levels of education for their children, funding may be a deterrent in the pursuit of these dreams. We have hence developed these products which will ease the burden of school fees payment while also providing satisfaction to the parents and guardians that their wards are getting good education.”

Dr. Sogunle identified a deep understanding of Nigeria and developing tailor-made solutions as factors that distinguishes Stanbic IBTC Bank as a leading Nigerian financial institution. 

He added that the bank’s loan products offer fast, simple and convenient ways by which customers can meet their short term financial obligations to educate their wards, with very convenient repayment terms.

Other benefits of the school fees loans are: access to a revolving line of credit, flexible repayment terms, and the opportunity to access credit up to 100% of the customer’s income. With schools resuming for a new term, the school fees loans will help to alleviate the financial burden parents and guardians may face in paying school fees.

According to the Stanbic IBTC Bank Chief Executive, the conditions for accessing the loan products are having a salary account with the bank; or having investments with any of the Stanbic IBTC group subsidiaries. 

Loan applicants can walk into any branch of the bank and apply for any of the education loans in a few easy steps. The application is then processed and the customer is contacted with feedback. 

Stanbic IBTC Holdings PLC is a Nigerian financial institution with eight subsidiaries and an estimated staff strength of 5,000 Nigerians. Furthermore, 80% of the Stanbic IBTC board members are Nigerian.  

10 thoughts on “Stanbic IBTC Introduces Educational Payment Products To Usher Students Back To School

  • March 13, 2021 at 8:17 pm

    80738 485753There is noticeably big funds to recognize about this. I suppose you created particular good points in attributes also. 458518

  • March 31, 2021 at 7:21 pm

    543741 125930Hello! Nice post! Please do maintain us posted when we can see a follow up! 863050

  • April 6, 2021 at 7:17 pm

    815231 635273A domain name is an identification label which defines a realm of administrative autonomy, authority, or control within the Internet. Domain names are also critica for domain hostingwebsite hosting 200197

  • June 11, 2021 at 3:34 pm

    433011 19159I adore the appear of your web site. I lately built mine and I was looking for some style tips and you gave me several. May possibly I ask you whether you developed the site by youself? 209304

  • June 21, 2021 at 10:44 am

    779759 396373hey there i stumbled upon your site searching around the web. I wanted to say I enjoy the appear of things about here. Keep it up will save for certain. 92719

  • July 26, 2021 at 6:55 am

    421022 619529Youre so cool! I dont suppose Ive read anything in this way before. So nice to uncover somebody with some original tips on this topic. realy appreciate starting this up. this superb website is something that is necessary over the internet, a person if we do originality. valuable function for bringing something new towards the internet! 175454

  • December 23, 2021 at 1:17 pm

    It was very good to read this article. I look forward to reading the next one!

Leave a Reply

Your email address will not be published.

%d bloggers like this: