By Babajide Komolafe
Diamond Bank is set to introduce Savings Xtra Credit Card,Â the first credit card linked to a savings account even as it announcedÂ Â N400m prize money for the second season of the Savings Xtra promotion.
Senior Adviser, Retail Banking, Diamond Bank, Mr. Garry Mash, disclosed this at the official launch of SavingsXtra Season Two on Monday.
He said the SavingsXtra Credit Card is a combination of the best savings account (Savings Xtra) and the best credit card in Nigeria (Diamond Bank Visa Credit Card).
â€œIt is a secure credit card which means that we can make it the least expensiveÂ in the market, with fees of only N300 per month and an interest rate of only 2% per month. It is available to anyone who has, at least, NI 40,000 on their Savings Xtra account – no minimum salary required – and like all of our credit cards, it is naira denominated, meaning you donâ€™t have to source foreign currency when paying your monthly bill.
â€œThe great news is that the Savings Xtra credit balances will continue to qualify for the monthly prize draws, whilst card holders go ahead and use their cards.”
â€œWith only 10 months to go to the FIFA World Cup in South Africa, I can also announce that we are partnering with VISA to send 6 lucky Visa Credit cardholders (along with their partners), to South Africa next June on all-expense paid trips to watch the World Cup.
All they need to do is to get one of the Diamond Bank’s Visa credit cards, including the new Savings Xtra Visa card, activate and use it every month. This will automatically qualify them for the monthly draws to win this fabulous prize. â€
On the details of the N400m to be given out during the second season of SavingXtra promotion, he said, â€œWe are giving away N400m and customers need just N5,000 in their Savings Xtra account to qualify. Every additional N5,000 will give xtra chances of winning, while 35 prizes will be given away each month plus two star prizes.
â€œEvery month, 10 customers will win N500,000, 5 will win motorcycles, 5 will win LCD televisions, 5 will win laptop computers, 5 will win generators, and 5 will win air conditioning units. Every month for the next 12 months, we will give away twoÂ â€œsalary for lifeâ€ prizes – every month, two people will win N100,000 per month for the next 20 years.
The first qualification date is 31st August, new customers should get their accounts opened now and put in, at least, N5,000. Existing customers should ensure that they have, at least, N5,000 in their account.
The first draw is exactly one month away – 10th September -with hen 37 lucky people winning prizes including 2 people winning a â€œsalary for lifeâ€.