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ACCESS BANK PLC

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24/05/2019

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Access Device Financing

Is it time to upgrade your mobile device? Finance your purchase with a contract arrangement that includes a monthly airtime bundle.

Features

  • No collateral required
  • Free airtime bundles with MTN
  • Up to 12 months (12) term

To find out more about Access Device financing, click here to find out more.

Frequently Asked Questions (FAQs)

Q: What is Device Finance?

A:   Device Finance is a scheme for financing the purchase of mobile devices under a contract arrangement. The finance scheme will include the device and monthly airtime Bundle.

Q: Who qualifies for Device Finance?
A:  This is available to customers who meet with below criteria:
  • Salary domiciliation with Access Bank
  • Confirmation of payment of last month’s salary
  • At least one salary disbursement prior to device application request

Q: How do I request for Device Finance?
A:  Simply walk into any Access Bank branch to get started.

Q: Where do I pick up the device from?
A:  Device will be picked up at the branch of request

Q: How long does it take to get a device?
A: Upon notification of approval, the device is available for pick up 48hours at LPA branches and 72 hours for other states. The loan is booked upon device pick up.

Q: What is the tenor of Device finance?
A: 12months.

Q: How do I know my eligibility amount and phones eligible for?
A: Eligibility amount and phones customers are eligible for are displayed once customer’s account number is inputted by the CCO on the device finance portal.

Q: What kind of devices can I get?
A: Variety of devices available under the scheme are displayed according to customer’s eligibility. Please see below scheme options for customers to select from.

PHONE OPTIONS

PHONE TYPE

ESTIMATED PHONE PRICE

MONTHLY PAYMENT TO BANK(₦)

MONTHLY AIRTIME REWARD BY MTN (₦)

OPTION 1

xxxxxxx

12,500

2,750.00

2,750.00

OPTION 2

xxxxxxx

40,000

8,400.11

8,400.11

OPTION 3

xxxxxxx

90,000

15,840.99

13,500.08

OPTION 4

xxxxxxx

195,000

27,818.51

17,550.00

OPTION 5

xxxxxxx

325,000

42,751.80

22,750.00

Q: How many times can I request for device finance?
A: Each time you request, the eligible amount is displayed and you can apply for devices within your eligible amount.

Q: What is the interest rate for Device Finance?
A: Interest rates varies between 20%-24% depending on the device option. This factored in the monthly repayment amount already.

Q: How do I pay back?
A: This will be debited monthly from your salary account domiciled with the Bank.

Q: Is there a window for loan pre-liquidation?
A: No, the scheme is for 12months.

Q: Will the airtime credited be rolled over if unused within the month?
A: Unused airtime will be rolled over every month.

Q: Can the airtime be used to buy data or call other Networks?
A: Yes, you can use the airtime to subscribe for data and call other networks.

Q: Is the Device Finance Scheme available to all mobile networks?
A: NO, the scheme is only available to customers with MTN phone numbers for now.

Q: Is the scheme available for only brand new devices? Or can fairly-used devices be financed under this scheme?
A: Only brand new devices are available under this scheme

Q: What happens if the device I picked up is faulty?
A: Customers should be informed to check device is sealed and not tampered with. However, complaints of faulty devices must be received within 48hours of purchase. ONLY devices confirmed dead on arrival (mobile devices that are found to be defective at the point of receipt by the Customers) by an accredited service centres will be replaced within 14-21 working days.

Q: Are devices under the scheme covered by Warranty?
A: Yes, devices are covered by the manufactures warranty.