Diamond Bank PLC, has announced the name change of its flagship savings account in a bid to cater to a larger section of the public. Hitherto known as ‘Diamond SavingsXtra’, the account has now been renamed ‘DiamondXtra’.
Commenting on the name change, Head, Corporate Communications of the Bank, Mrs. AyonaTrimnell said, “The name change was informed by the need to change a wrong perception on the target market of the Diamond SavingsXtra account. Over time we found that people perceived the account to cater to only the lower mass market segment, a wrong perception. With the name change we wish to communicate to everyone that the account is open to everyone who is willing to put away some money for the rainy day, as well as enjoy a number of rewards for saving.”
DiamondXtra account is a special savings account designed for individuals who want to build up their savings gradually. It is an interest-yielding savings account which allows the deposit of both cash and third party cheques. In addition, DiamondXtra accountholders receive a chequebook and an ATM card with which they can withdraw from their account at any Diamond Bank branch. It is a simple and straightforward savings account that comes with a low minimum opening amount of N5,000.
DiamondXtra is currently executing the longest running reward scheme in Nigeria,called the DiamondXtra Reward Scheme. It was launched in July 2008 in a bid to encourage a savings culture and also to reward customers for their loyalty. The draws are held weekly (every Friday), monthly (every last Friday of the Month) and to mark special occasions as determined by the Bank.
Every Friday, four customers stand a chance to win N250,000.00 each, ten customers will win N500,000 each while another customer will win the star prize of N1 million.