Bamidele Ogunwusi, Lagos
Access Bank said its digital lending platforms have recorded a total of 18 million loans, valued at N740 billion since 2017.
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Njideka Esomeju, Group Head, Consumer Banking, Access Bank, disclosed this on Tuesday at a media briefing unveiling the newly revamped QuickBucks, a mobile banking application for digital loans.
Her words, “Since 2017, when we issued our first digital PayDay loan, we have granted 18 million digital loans worth over N740 billion, where customers can access up to N10 million instantly. Nigerians need the financial support that our digital loans offer more than ever, whether it’s the market woman who needs to replenish her inventory, or the young couple who need some extra funds to pay for their children’s education, everyone can benefit from some assistance”.
Daily Independent gathered that QuickBucks is a platform for all loan products aimed at improving borrowing experience and it is designed to meet customers’ urgent financial needs since it was launched in 2017.
“QuickBucks loans have improved significantly. And as a responsible lender, we make sure that our customers do not get into debt trouble, which is why we cap our loans at a certain percentage of salary or account transactions. Customers must also have good credit records across all financial institutions to be eligible for our loans.
“QuickBucks loans offer ‘something for everyone’. At first, our digital loans were only for salary earners who had to pay back in 30 days, but now we have QuickBucks Loans with up to 12 months of repayment time for customers who have salary accounts with us or other banks, self-employed and active account holders, and also our business account and trader account holders. Today, we offer a larger number of loans to low-income individuals and small businesses than most commercial banks”, Ndijeka stated.
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Efe Obaigbena, Head, Digital Lending at Access Bank said customers of the bank’s chances of getting a QuickBucks Loan increase when they do more transactions with the bank.
“If your income comes from a salary, ensure that it goes into your Access Bank account. If you work for yourself or run a business, ask your clients to pay into your Access Bank account and use your Access Bank account to pay your suppliers and vendors. Most importantly, avoid defaulting on any loans within or outside Access Bank. These activities improve your credit profile and make you more eligible for a QuickBucks Loan offer
“QuickBucks Loans are attractive because they are automated. Getting a QuickBucks Loan is quick and easy, and so is repaying it. Customers just need to make sure they have enough money in their account on the due date(s) and the payment will be deducted automatically, without any hassle for you. Our customer support team will also contact you with messages and calls as your due date approaches”.
She also said that the interest rate charged on the loan is the lowest in the industry, The interest rate is from five per cent to maximum of 15 per cent based on the customer’s loan type.
She added that “QuickBucks Loans are designed to be easy to access, where customers who have low literacy can get our digital loans through USSD, helping them join the financial system by offering them digital loans even if they have different levels of financial knowledge.”
Oladisun Dawodu, Teal Lead, Digital Lending, said the Access Bank offers a fast and easy way for users to get QuickBucks Loans through the channel of their choice. Users can expect to receive the funds quickly, usually in minutes, into their existing Access Bank account, or a new Access Bank account if they are not already customers.
“To get a QuickBucks Loan, dial *901# and choose QuickBucks Loans on USSD; select ‘Loans’ on AccessMore app for smartphone users; or go to the QuickBucks platform on web or app, available on the Google Playstore or Apple App Store. You can also check the Access Bank website for more details on how to get a QuickBucks Loan.
“QuickBucks Loans stand out by providing and offering a faster loan processing time, fair interest rates, security, and a range of loan offerings that cater to specific financial needs, establishing itself as a top player in the digital lending space in Nigeria”.
