With an aim to expand its operations in retail banking, Nigeria-based Equitorial Trust Bank has reviewed its retail banking products – Auto Loan, Quick Loan, Household Loan, Okada Loan and High Yield Personal Account (HYPA). The bank also unveiled a new product – Corporate Multiplier Account, reported Thisdayonline.com.
Ike Oraekwuotu, MD of the bank, has said that the obligor limit of Quick Loan has increased from N1 million to N2 million. The obligor limit for Auto Loan has increased from N5 million to N10 million and repayment was extended from 36 months to 48 months.
Mr. Oraekwuotu has added that now customers can get ETB Household Loan upto N10 million with a repayment period of 24 months (as compared to the earlier 18 months), and HYPA attracts a competitive interest rate, reported the newspaper.
