Have you always admired a smartphone and dreamt of owning it, but you were discouraged because of the price? Have you always want to get a device and pay in installments? Well if your answers to the above questions are YES, then I have good news for you.
MTN Nigeria has heard the cries of the not too financially buoyant by launching the MTN Device Financing. This package lets you get any smartphone of your choice, and pay small small.
In other to achieve this, MTN Nigeria has partnered with PayJoy and Sterling bank to launch device financing: Pay Small Small. With the help of this initiative, customers will be able to have access to loans to buy smartphones and payback on installments, within a stipulated period.
This means that with as low as N7500 per month, you can own a device of your choice. Simply walking into any MTN experience center nationwide through loans financing by Sterling Bank. If all term and conditions are met, the device will be yours in no time.
Requirements for MTN Device Financing
- Open an account with Sterling Bank for the bank to pay the loan into which can be done in any of the 14 MTN experience centers.
2. Provide access to 3 months bank statements from your most active account in any bank.
As soon as your account is opened, you’ll have access to credit loan from N25000 – N400,000 to purchase any phone available, and payback within the agreed time-frame, which ranges from two to six months and has an interest rate of 18%, and an insurance premium of 4%.
Who can partake
The MTN Device Financing has been made available to all customers including students and non-students. All you have to do is follow the easy steps mentioned above and meet the requirement, and your dream device will be yours.
MTN and PayJoy Partnership
To prevent customers from defaulting on payment, MTN Nigeria partnered with PayJoy, a risk management tool to make sure the device is taken without payment, should the customer default on his payment. The company stated,
After a 7-day grace period, the device would be locked; PayJoy is a firmware for locking and unlocking the device for the period given based on the duration of the loan.
If Customers do not pay after the grace period, Sterling bank can then activate its tokenization service to debit the account of the customer provided during registration.
To provide a form of incentive, customers who take advantage of the MTN Device Financing will have access to Free 2GB data every month, access to a suite of MTN offerings such as MPulse, MTN music plus among others.