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Sterling Bank Plc, Nigeria’s commercial bank, has offered a safe option for investments in its Doubble.ng product to discerning investors seeking double-digit investment income and safety in this period of heightened market volatility and unpredictable macroeconomic environment.
Doubble.ng is an investment product which is denominated in Naira and Dollar with short and long-term options.
According to Adekunle Feyisitan, product manager, Sterling Bank, Doubble.ng was designed to address the concerns of individuals who are looking to accumulate savings and regular investment income over a specific timeline to plan for future business or lifestyle needs.
He listed benefits of the product options to include guaranteed income stream and growth for a fixed period of time, safety from market volatility, ability to access loan facilities against balance and opportunity to transfer the annuity to a spouse or any other named beneficiary.
Feyisitan said, “With Doubble.ng, a customer can choose to invest either a lump sum in one contribution or in smaller monthly contributions, which could be for the duration of 12 to 120 months with all pay-outs remitted either monthly or as a lump sum once target is achieved to named beneficiaries.
“It empowers individuals to plan towards future consistent cash outflows such as payment for children’s further education, mortgages or funds for business start-up. Doubble.ng is actually the perfect investment vehicle for those planning to transition from paid employment to owner-businesses and need to plan the cash flow in the business growth years”.
The product manager added that Doubble.ng target option allows the beneficiary to set target saving and interest income in Naira or Dollar over a specified period while additional voluntary contributions can be made into the investment account apart from the regular contributions based on the initial set date because an investor is at liberty to take up multiple plans.
He assured customers of efficient and prompt service delivery and urged those in active employment as well as entrepreneurs to take advantage of the high-income growth product to maximise returns on investment at this volatile and uncertain time.
The product offers four variants to discerning investors, including 3, 5 and 10 year plans as well as short-term target investments.
With a 3-year contract plan during which the investor makes monthly contributions for the first three years, Sterling Bank will pay out the invested amount plus returns to the beneficiary every month for the following three years. It has returns on investment of 125 percent.
