By Uzoma Akobundu
Hope rises for families struggling to pick the bills of their wards in school as Nigeria’s leading financial institution, Zenith Bank Plc, has unveiled an account to the public to deal with such cases.
Called the Zenith Children’s Account (ZECA) Education Loan, the bank said it is meant to assist parents pay their children/ wards school fees as the new school session begins.
The loan offering, Zenith Bank said in a statement on Wednesday, is disbursed directly to the account of the beneficiary’s school, and comes at a very competitive interest rate and flexible repayment tenors.
“To access the loan, parents are required to open a ZECA account for their children/wards at any of the bank’s branches,” the statement said.
Commenting on the new loan product, the Group Managing Director/Chief Executive of Zenith Bank Plc, Mr. Ebenezer Onyeagwu said: “The bank remains focused on providing premium financial solutions that create value for its customers and meet their lifestyle needs.”
ZECA is a specialized savings product for children between the ages of 0-17 years. The account enables parents/ guardians save towards securing the financial future of their children/wards.
Zenith Bank Plc is recognized as one of the most innovative financial institutions in Nigeria and was voted the most customer-focused bank in Nigeria for the Retail and SME segments in the 2018 KPMG Annual Banking Industry Customer Satisfaction Survey (BICSS).
The bank’s commitment to world-class service standards has led to several product innovations over the last few weeks including the “Zenith Timeless Account”, which allows Nigerians aged 55 years and above bank for free, the “Zenith Save for Me”, a high interest target savings account and “Dubai Visa Service” on the Zenith Internet Banking Platform, which allows convenient application and payment for visas to Dubai.