Renmoney Microfinance Bank (MfB) has unveiled “School Fees Loan” product with a view to making Back-to-School season easier and faster for parents and guardians, just as it kicked-off #Back2School campaign.
Back to school season is always financially stressful for parents over school fees, especially when tuition is increased as it is regularly the case; new text books; new writing materials; new school kits; among others. In a statement, the bank explained that the school fees loan requires no collateral, no guarantors and is accessible at lower interest rates to ensure that education for children remains accessible and easy to fund.
CEO, RenMoney MfB Nigeria, Mr. Ian Abrahams, said that the product was born out of a desire to address the high costs and associated panic that parents face when schools resume a new session. Abrahams said, “We want to make sure that parents can access cash as quickly as possible. We also want to make sure that repayment terms are easy and will not break the bank, which is why the interest rate on school fees loan are so low.”
Parents can access this financial ease by applying for a RenMoneySchool Fess Loan via the company website,” the bank said.
