FirstBank has partnered with electronics retailer Pointek to let eligible Nigerians buy smartphones, laptops and household appliances on instalment payments, easing the need to pay the full cost upfront.
The arrangement operates through FirstBank’s FirstEase buy-now-pay-later service, with customers able to spread repayments over six months at a stated interest rate of 3%.
The partnership is aimed at customers who need digital devices for work, education, business and everyday services but may find the upfront cost difficult to meet. Brandspur Banking News Desk reports that the financing option was announced at a press conference.
Under the scheme, eligible buyers can access the payment option when purchasing products through Pointek. The offer covers devices such as smartphones and laptops, alongside household appliances.
The service is designed to give customers access to essential technology while distributing the cost over time. However, the financing is available only to customers who meet FirstBank’s eligibility requirements.
The development comes as the cost of electronic devices remains a major consideration for households and small businesses. Smartphones and computers have become important tools for communication, digital payments, learning and work, making access to them increasingly relevant to participation in the digital economy.
The partnership also adds a retail purchase option to FirstBank’s consumer lending services, allowing customers to finance goods rather than receive a cash loan.
For buyers, instalment payments could make it easier to acquire a device when needed. The total cost and repayment obligations, however, remain important considerations before committing to the arrangement.
