Fidelity Bank has joined Republic Bank to offer some reprieve to their borrowers following the COVID-19 pandemic.
Customers of the bank can now enjoy an interest rate of 17.5% for personal loans.
This, the bank said, is in the spirit of working together to support the welfare of its customers and clients.
This reduction will include a further relief option of a maximum three-month repayment holiday where required.
In a statement, the bank said this is part of initial support measures designed to provide immediate relief and cushion their clients and, by extension, Ghanaians at large, with effect from Thursday, 26 March 2020.
Additionally, the bank has also introduced an enhanced offering to customers on the Fidelity Mobile App, which now enables customers to apply for salary advances, overdraft limit increases and loan top-ups from the comfort of their homes.
“We have aligned with the Ghana Association of Bankers’ fee waiver announcements and, as such, have waived all interbank transfer fees on our digital platforms and mobile wallet transaction fees for transactions of GHS100 and below”, Managing Director of the Bank, Julian Opuni said. COVID-19: Fidelity cuts interest rate to 17.5%