Assets Microfinance Bank has launched a new product that offers personal loans to salary earners.
In a statement made available to our correspondent on Thursday, the microfinance bank said that the new product, called Assets Salary Plus Loans, was aimed at making it simpler and cheaper for salary earners to meet their needs in light of the economic challenges in the country.
Speaking on the new product, the Deputy Managing Director of Assets Microfinance, Obinwanne Mordi, said, “We know how tough the economy is right now to Nigerians, and we are thrilled to help salary earners get affordable loans.
“It is in line with our mission to provide accessible, reliable, and convenient financial services to individuals and businesses.”
The lender said that the loans would be at a highly competitive rate.
According to the National Bureau of Statistics, Nigeria’s Gross Domestic Product grew by 2.51 per cent (year-on-year) in real terms in the second quarter of 2023. The growth rate is lower than the 3.54 per cent recorded in the second quarter of 2022.
The NBS said the dip may be attributed to the challenging economic conditions being experienced.
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