Sterling Bank Plc announced that it has launched a new online investment portal called Doubble to cater to the investment appetite of individuals in active workforce.
The bank said Doubble is an automated investment platform that allows individuals to invest at their convenience and get back up to 200 percent over a period.
The Chief Marketing Officer of Sterling Bank, Dapo Martins, who spoke on the new investment platform, said it was designed to address the concerns of individuals who are looking to accumulate savings over a specific timeline to take care of future needs.
Martins said “with Doubble, a customer can choose to invest either a lump sum in one contribution or monthly contributions, which could be for the duration of 12 months to 60 months with all pay-outs remitted either monthly or once target is achieved to named beneficiaries”.
He also noted that the platform could function as an annuity to some customers, as it guarantees monthly payment to beneficiaries at regular intervals over a specified duration. Martins added that the platform’s flexibility would allow the customer to select other beneficiaries such as children, spouse or parents for pay-out.
The Chief Marketing Officer revealed that Doubble can be used for target savings in both Naira and Dollars to achieve a certain amount in a specific number of years earning interest along the way.
Sterling Bank said Doubble empowers individuals to plan towards future consistent cash outflows such as payment for utilities, monthly upkeep and payment for mortgages while applications can be done immediately and a future convenient date selected for contract to commence.