He told Accra-based Joy FM that the complete scrapping of the 24% per anum interest rate took effect on Monday (April 6, 2020).
Dalex Finance scraps interest on loans
The Chief Executive Officer of Dalex Finance, Ken Thompson has said that customers on the company’s DalexSwift Investment platform will pay no interest on loans they take.
He explained that this initiative was the company’s way of supporting young Ghanaians during the outbreak of COVID-19 in the country.
“For all our DalexSwift customers, we are offering them zero percent interest on loans they take between now and the end of June,” he announced.
Mr Thompson said they have young people in mind during this crisis and want to support them.
“DalexSwift was launched about four years ago and it has about 130,000 registered accounts and it was launched to make it easy for young people to invest in the things they need and want.”
“We think that as a brand that is community-oriented and wants to show empathy, we want to give something back and young people form a part of that vulnerable bracket,” he added.
He explained that due to the social distancing rules as part of measures to contain the spread of the coronavirus, the DalexSwift does not require any physical contact for registration, investments, redemptions, loan applications, and loan disbursements.
Mr Thompson entreated other corporate institutions to do support their clients and the public as a whole during the crisis saying “these are not normal times. We can do more.”
Dalex SWIFT is an investment product aimed at providing access to savings and investments at a reasonable cost for all households to a full range of financial services, including savings or deposit services, payment, and transfer services and credit and insurance.
It is a contributory investment scheme that allows everyone despite their earnings to deposit any amount starting from GHC1.00 at their convenience with a mobile phone number of prospective clients serving as the investment account number.
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