Access Bank Unveils Smartphone Device Financing Scheme


Access Bank Plc has said it is providing more Nigerians with access to credit with its unveiling of its Device Finance scheme, a scheme designed to provide its salary customers opportunity to purchase smartphones of their choice and pay over a period of 12 months.

The bank disclosed this in a statement wednesday.

Speaking on the initiative, the bank’s Executive Director, Retail Banking, Victor Etuokwu said, “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.

“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.

“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.”

The finance scheme is available to all Access Bank salaried customer and the devices could be purchased at competitive market prices, spread across a twelve-month repayment period.