As summer vacation comes to an end, Fidelity Bank Plc says it would assist schools in effectively preparing for the next session and delivering quality education.
In a statement, it claimed administrators of private primary, secondary, and tertiary institutions in Nigeria may receive loans of up to N180m through its product known as the Fidelity Edu Loan.
“At Fidelity Bank, we recognize the critical role that high-quality education plays in the development of any country, and this informed our introduction of the Fidelity Edu Loan,” stated Osita Ede, Divisional Head, Product Growth, Fidelity Bank Plc.
“Through the offering, privately-run educational institutions can access loans at a competitive rate for working capital needs, such as financing minor property improvements at their schools, buying school supplies like textbooks, furniture, or uniforms, or paying salaries.
“The Fidelity Edu Loan can also be used by schools to establish new schools and buy fixed assets like generators and buses.
According to the statement, the seeking customer must have run its educational institution for at least three years and must be properly registered with the relevant authorities,, in order to be qualified for the product.
The Fidelity Edu Loan is a component of Fidelity Bank’s bigger education finance proposition, which aims to empower everyone in the education ecosystem, including schools, parents, students, and contractors, with amazing financial and non-financial products and services.
“For instance, the Fidelity Personal Loan offers employees of commercial and public enterprises quick loans of up to N5 million by simply dialing *770*08# from their mobile phones. This can be useful for covering personal expenses like school fees.”
According to the statement, Fidelity Bank is a fully functional commercial bank with over eight million clients served throughout its 250 business locations and online banking platforms in Nigeria.
