Wema Bank launches educational oriented products
Sodiq Oyeleke
The Wema Bank of Nigeria has introduced the Royal Kiddies
and the Purple Account with the target of empowering children and young adults
eductionally.
The Executive Director and Head, Lagos and South-South bank,
Mr. Ademola Adebise while unveiling the products, on Wednesday in Lagos, said
the products were introduced to satisfy the yearnings of the customers
demanding for a save future for their children.
“The accounts were borne out of feedback from customers and
years of collaboration with various stakeholders to develop a niche product
that can serve the yearnings and needs of the young people in Nigeria whilst
also providing an assured foundation for their future,” he said.
The Divisional Head, Retail Bank, Mr. Akinlolu Ayileka added
that the products would enrish entrepreneuer development in the country, noting
that the products have been dedicated to provide for the educational needs of
the children and adult.
He said, “We understand that education is the bedrock of
development for the economy. Everything is dependent on knowledge and skills,
which the Royal Kiddies and Purple Account have been specially designed to
meet.
“It will also help the parents and guardians to meet the
specific needs of children and young adults, as provides a sound platform for
them.”
Presenting the Royal Kiddies Account, the Product Manager,
Omolola Omoyele, explained that the account has benefits that put the future of
any child in a safe mode with life assurance cover of 10 times the account
balance.
She added, “The Royal Kiddies Account is for the children
between the age of zero and 13 with life assurance of up to N10m in case of accidential
death or permanent disability of parent or guardian.
“The holder of the account, the child is also eligible for
the Wema Educational award which will be given to 10 account holders. The
account also enables the lodgements of cheques and dividend warrants and
attracts interest rates far above the prevailing market with a premium life
insurance.”
Also, the bank’s Head of Liability Products, Mr. Olufemi
Oyebamiji during the Purple Account presentation noted that the account was
designd to providing financial freedom to young adults between 13 and 24 years with
no minimum operating balance and charge for bank draft purchased.
“Purple Account is aimed at discerning young adults
especially those in the tetiary institutions, fresh graduates and secondary
school for the future. With personalised debit cardd, access to mobile banking
and internet banking services among others,” Oyebamiji said.
Written by NEWSTRAWL ONLINE UPDATE
Sodiq Oyeleke is a Media, Human Resources, Project Management and Public Relations Practitioner
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