The Agricultural Development Bank (ADB) has introduced a new product for salaried workers who save with the bank to provide immediate financial support to customers.
The product dubbed “Pay Day Plus” is a quick salary advance for workers who receive their salaries through the Bank to borrow up to 80% of their next net salary or GH₵10,000.00 of their net salary less loans to meet contingency expenses.
Speaking about the new product, the ADB Managing Director, Dr. John Kofi Mensah said that the “Payday Plus” was in response to customers need to access fast and easy credit facilities before they get their salaries at the end of the month.
“The Pay Day Plus is designed to help salaried workers who find themselves in financial difficulties before the end of the month to access upto 80% of the next net salary or enjoy upto GHS10, 000.00,” he said.
According to Dr. Kofi Mensah, customers get to enjoy an interest free loan if repayment is made within thirty (30) days and customers get their request granted within twenty-four hours.
The ADB Managing Director was optimistic the Payday Plus will meet the necessary needs of customers and urged customers to take advantage of it.
He also reiterated that the Bank will continue to develop products and services to enhance the banking experience of its customers by visiting any ADB branch nationwide.