Barclays bank has told Citi Business News the introduction of its power loan is to protect its customers and non customers against the current power crisis.
[contextly_sidebar id=”ht9b8FgVlLrFOenHs31EOtQPLBTHis47″]Barclays bank this month introduced a loan package dubbed the ‘Power/Generator Loan’ to help clients sail through the power crisis.
The loan facility involves an arrangement between Barclays Bank Ghana and suppliers of electric power solutions which allows the bank to pay directly to a registered supplier who then provides the desired electric power solution to the customer.
The package, which covers the purchase of a generator, an inverter or solar power system, provides a collateral-free loan of up to GH¢130,000.
Speaking to Citi Business News Head of Products at Barclays Bank Ghana Evelyn Acquah said Barclays bank introduced the power loan to help customers and individuals overcome the inconvenience that comes with the loading shedding exercise.
“In Barclays I believe you are aware of our prosper campaign and as part of that our focus has been on how we help our customers to achieve their ambitions in the right way. So in response to the current market trends which we are all aware that we are in we set to develop a solution that would meet the needs of our customers and what is that solution? that solution was looking at giving them a product that would give a solution that would help them overcome the inconvenience that the power crises has put on them. And that is what informed the designing of the power loan for our customers.”
Head of Products at Barclays Bank Ghana Evelyn Acquah told Citi Business News that there is a discount for all customers because the bank had pre-selected the suppliers.
The discount was up to 10% which if you walked into any of the suppliers shop to buy without using the power loan opportunity you would not get.
She also explains how one can access the loan saying salaried earners needed to have an account with the bank to qualify but also all those who were on the scheme loan system like the Fire Service, GES and so on are also qualified to access the facility.
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By Norvan Acquah – Hayford/citifmonline.com/Ghana
