As the long school holiday winds down and a new session is opening, Fidelity Bank Plc is helping schools prepare adequately to deliver quality education with a special product, Fidelity Edu Loan
The product is to assist administrators of registered private primary, secondary and tertiary institutions in Nigeria access loans of up to N180 million.
Fidelity Bank’s Divisional Head, Product Development, Osita Ede said in Lagos that the bank recognizes the pivotal role quality education plays in the development of any nation and this informed the introduction of the Fidelity Edu Loan.
He explained that through the offering, privately-run educational institutions can access loans at a friendly rate for working capital needs like minor renovation on their school property, financing the purchase of school supplies like books, teaching materials, furniture or uniforms; and making salary payments.
“Similarly, schools can leverage the Fidelity Edu Loan to purchase fixed assets like school buses, generators and construct new school buildings”, Ede concluded.
To be eligible for the product, the customer must have operated their educational institution for at least three years and should be duly registered with the relevant authorities.
Osita Ede said further: “The Fidelity Edu Loan is part of our larger education finance proposition at Fidelity Bank as we aim to empower everyone within the education ecosystem, including the schools, parents and contractors, with amazing financial and non-financial products and services. For instance, we have the Fidelity Personal loan which provides instant loans of up to N5million to employees of private and public organisations by simply dialing *770*08# from their mobile phones. This can become handy for paying school fees or meeting other personal needs.”
