Mortgage firm introduces new product

RESORT Savings and Loans Plc has introduced a new product to the market.The product, known as Resort Asset and Liquidity Investment (REAL Jewel), has been designed to meet the needs of both old and new customers of the bank.The unique feature of the product, according to the company's Managing Director, Abimbola Olayinka, is that 'it allows for payment of interests on customers' deposits upfront. Customers also have the benefit of getting loan facilities from the bank with a free N2 million personal accident insurance policy cover'.Olayinka, in a statement, said customers who subscribe to the product would get free personal insurance and death benefit policy of maximum of N2 million. The product, according to him, has three variants- sappire, emerald and ruby.The saphire, which is the least of the variants, is a band between N500,000 and N5 million, while emerald is an investment of more than N5 million,but lower than N25 million.The ruby, according to Olayinka, 'is the highest band of the variants, with a range of investment greater than N25 million'.The rate of returns on the investment is as high as 17 per cent per annum, as the fund is applied strictly to the real estate investment.Customers who invest the stipulated amount of money, Olayinka added, 'are entitled to an upfront interest and also the free personal accident insurance cover'.
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