Managing Director, Sterling Bank Plc, Mr. Yemi Adeola

Sterling Bank Plc says it has introduced a new product that will make customers to enjoy the benefits of both current and saving account offerings without the associated cost of running a current account.

The lender said the proposition, tagged ‘New Sterling Plus, was in line with its commitment to promote savings culture and financial inclusion,

An Executive Director of the bank, Mr. Abukakar Suleiman, said the product was meant for the mass market segment.

He said the product was developed after an extensive market research, saying “the needs of our existing and potential customers led to the development of this proposition which provides offerings suited for the banking needs of the generality of the Nigerian population.

“Customers are entitled to free cheque books, free debit cards and free alerts (SMS and e-mails) on their transactions.”

He described it as an affordable hybrid offering with the promise of many ‘goodies and freebies’ such as free Lenovo smartphones pre-loaded with financial and entertainment applications and cash rewards among others for its individual customers.

The Head, Consumer Banking Unit, Sterling Bank, Mr. Gbenga Adegoke, said some of the computer applications on the smartphone would not only make customers to have an exciting experience but meet their banking, entertainment and financial literacy needs.

According to Adegoke, the product also comes with a cash reward scheme.

He said, “Every week, 20 people would win N50,000 each, 10 people would win N100,000 monthly, two people to win N500,000 quarterly and one lucky individual to win N1 million on new special holidays (as declared by the federal government).

“New Sterling Plus which can be accessed at any of the Sterling Bank branches can be opened with a minimum of balance of N5, 000.”