The Agricultural Development Bank (ADB) has introduced a new product for salaried workers who save with the bank to provide immediate financial support to customers.
The product dubbed ‘Payday Plus’ is a quick salary advance to workers who receive their salaries through the bank to borrow up to 80% of their next net salary or ¢10,000.00 of their net salary less loans to meet contingency expenses.
Speaking about the new product, Managing Director of ADB, Dr. John Kofi Mensah said the ‘Payday Plus’ was in response to customers need to access fast and easy credit facilities before they get their salaries at the end of the month.
“The ‘Payday Plus’ is designed to help salaried workers who find themselves in financial difficulties before the end of the month to access up to 80% of the next net salary or enjoy up to 10,000,” he said.
According to Dr. Kofi Mensah, customers get to enjoy an interest free loan if repayment is made within 30 days and their funds are deposited into customers account within 24 hours.
The ADB Managing Director was optimistic the ‘Payday Plus’ will meet the necessary needs of customers and urged customers to take advantage of it.
He also reiterated that the bank will continue to develop products and services to enhance the banking experience of its customers by visiting any ADB branch nationwide.