Merger: Diamond Bank launches loan service to reduce financial burden

Diamond Bank Plc has introduced PayDay Loan to ease the financial burden of its customers as part of the benefits from its merger with Access Bank Plc.

According to the bank, PayDay Loan is an instant salary advance service available to all customers who have their salary accounts in Diamond Bank.

“PayDay Loan is service quick, convenient and does not require any paperwork, collateral or guarantor,’’ Diamond Bank said in a statement signed by its Media Relations Officer, Mr Ezechinyere Anyanwu, in Lagos.

The bank said that PayDay Loan was originally an Access Bank salary advance scheme that provided instant credit to its salaried customers and individuals whose salaries were processed through the electronic payment platform – REMITA.

It quoted Mr Victor Etuokwu, Access Bank Executive Director, Personal Banking Division, as saying that the instant loan service had been extended to salary account holders in Diamond Bank due to the merger plan.

“As a result of the merger between Diamond Bank and Access Bank, the instant loan service has now been extended to Diamond Bank salary account holders.

“Customers are at the heart of our decision to create one of Nigeria’s leading bank.

“The combination of Access bank and Diamond Bank will result in real benefits, and that is why we have introduced the PayDay Loan scheme to Diamond Bank customers.

“Together, we will bring the power of banking to millions across Nigeria, focused on speed, service and security,’’ Diamond Bank quoted Etuokwu as saying.

It said that customers with salary accounts in Diamond Bank should dial *901*11# on their mobile phones and follow the prompts to request for a PayDay Loan.

Our correspondent reports that the service is available 24 hours every day.