The Prudential Bank on Wednesday launched a specialized product called Anidaso Susu (savings) Scheme designed to give loans to Small and Medium scale Enterprises (SME's) to expand their businesses.
The Anidaso Susu Scheme is designed to encourage SME's which are mainly petty traders to open accounts with the bank and make savings of any amount for three months to qualify for a loan of over 200 per cent of their savings.
Even though the scheme is operated at all the 20 fully-networked branches of the bank across the country, it is particularly targeting customers at Madina, a suburb of Accra because of the presence of numerous SME's.
The scheme is an improvement on an existing one called Prudential Business Scheme which allows customers to receive up to 125 per cent of loan of their savings with the bank.
Mrs. Grace Osei-Bonsu, Head, Retail and Marketing Department of the bank who launched the scheme at the bank's Madina branch in Accra said it was to revive the business community's interest in the bank as well as inculcate the savings habit among the SME's.
Mrs Osei-Bonsu said the bank had done a test-programme which indicated that people were interested in a product such as the Anidaso Susu Scheme to develop their businesses.
She said because the SME's did not have the time to visit the banks to transact business, the Prudential Bank would send its staff to visit all the SME's and also engage in door-to-door activities to collect their monies for the savings.
She assured the business community that the Bank was bent on providing best quality and mutually rewarding services to customers and invited potential customers to do business with it.
Mr Anthony Yeboah, Madina Branch Manager of the bank said the new scheme offered numerous benefits to all.
Mr Yeboah mentioned security of money, payment of interest on the saving, no deduction from the savings as some of the benefits customers would enjoy.
The Prudential bank provides several services including electronic banking to give convenience to its customers.