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Their products range from bank accounts for savings and current accounts to loans tailored for specific needs. They cover the basics that a regular bank would, but do so for an audience that isn’t fully catered for by the bigger commercial banks. Fina Trust commenced operations in Nigeria in October 2009, having secured its operating license from the CBN a month earlier. Because it obtained a state license, it is only physically present in Lagos State. But thanks to its partnership with other banks, people outside of the state can deposit or withdraw money from over 1,000 locations across the country. Persons who wish to bank with Fina Trust may open either regular savings or individual current accounts. These can be maintained with flexible contributions, and come with a personalized bank card. There’s also the enterprise current account for businesses, and the Tender Heart Savings Account, designed for children.
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Fina Trust’s fixed deposit account promises relatively high-interest rates on savings, plus early and part withdrawals. Interest rates are negotiable and are higher for longer tenure deposits. What’s more, an investment certificate may also be issued as collateral to holders of this account. A variety of loans are available from Fina Trust. These include the Fina Quick Loan, which gives borrowers access to loans of up to ₦1 million; the SME Loan, which is short to medium term financing for businesses’ working capital and asset purchase needs; and the salary advance, provided to employed persons. The Fina Trust Micro Loan, which has 12-month tenure, is given to gainfully employed people who require extra funding to take care of their personal needs. The Edu Loan caters to school owners and teachers; the Auto Loan finances the acquisition of motor vehicles; and the Asset Financing Loan takes care of the purchase of generating sets, laboratory equipment, and digital equipment, among others. These services can be accessed through alternate channels such as Fina Trust’s internet banking, mobile app, and USSD services. Customers may also utilize their debit cards at ATMs, Points of Sale (POS), and the web. Featured Image Source: The PicLOC
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