Finance | National

Dalex Finance offers zero percent interest on loans

Chief Executive Officer of Dalex Finance, Ken Thompson has announced a zero percent interest on loans to all clients on the company’s DalexSwift Investment platform.

The initiative which took effect from Monday, April 6, scraps completely the 24 percent per annum interest rate on loans.

Speaking on Joy FM’s Super Morning Show, Mr Thompson said the move was the company’s way of supporting young Ghanaians during the outbreak of coronavirus in the country.

“For all our DalexSwift customers, we are offering them zero per cent interest on loans they take between now and the end of June,” he announced.

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 GH¢1.00 at their own convenience with a mobile phone number of prospective clients serving as the investment account number.

Mr Thompson said the product has young people in mind during this crisis and wants 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.

As social distancing rules have been enforced as part of measures to curb the spread of the coronavirus, the DalexSwift requires zero personal contact for registration, investments, redemptions, loan applications, and loan disbursements.

Mr Thompson urged corporate institutions to do more to support their clients and the public as a whole during the crisis.

“These are not normal times. We can do more,” he said.