Salary Earners Loan

 

This is a loan product designed for salary earners. These salary earners can be further sub-divided into two; those that their salaries are domiciled and those that their salaries are not domiciled

Group Loan

 

A group must be doing business together or related business in the same location.

Must have close knowledge of themselves.

For Groups who harmonized themselves and usually of the same trade, they co-guarantee themselves and meet in a central place to make their repayment.

Group loans ranges from N300, 000 – N3, 000, 000. The loan is usually collaterized with group guarantee savings depending on the loan amount.

Trade and Commerce Loan, Micro Loans, etc

 

These are business loans designed for entrepreneur/traders. The loan amount under this category ranges from N10,000 to N500, 000.

These loans are usually collaterized either by cash, tangible or intangible assets.

Seasonal Loan

 

This product as the name implies is seasonal. It is a product designed for clients during Christmas seasons, and Easter seasons.

This is customer’s product.  This product facility is to help to manage the pressure of demand during festive period. The loan is designed for a period of 3 months and the repayment is once.

Other Seasonal Loans

 

This is another seasonal loan. It is specifically designed for salary earners. Basically, the loan is in the form of food stuff such as Rice, Groundnut oil, Tomatoes etc. The repayment is usually for a maximum period of 3 months. It enables the employee client of the bank reduce family stress.

Asset Acquisition Loan

 

This is a loan product that is designed to help customers acquire all kinds of assets they desired. These assets can be Land, House, vehicles, and other personal belongings like television, etc.

These items can be bought for the individual at our normal interest rate (2.5% reducing balance method) while the deduction are being made monthly from the customer’s salary for an agreed period of time. It is targeted to salaried earners in the bank.

Hire Purchase Loan

 

Hire purchase (HP) or leasing is a type of asset finance that allows individual(s) or group to possess and control an asset during an agreed term, while paying rent or instalments covering depreciation of the asset, and interest to cover capital cost.

Requirements:

  • Staff Identification Card (if employed)
  • Letter of introduction from Employer (if employed)
  • Bank Verification Number
  • Letter of non indebtedness from other Financial institution (Non Domiciled salary earners
  • Two recent passport photographs (within the last six months)
  • A guarantor is a must
  • 10% Guarantee Savings must be maintained
  • Recent Utility Bill or rent agreement

Clean credit bureau record

Demand Deposit
  • Personal Current Account
  • Corporate Current Account
  • Salary Current Account
  • Joint Current Account
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Savings Account
  • Savings Account Individual
  • Savings Account Association
  • Savings Account Salary
  • Savings Account Pension
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Fixed Deposit
  • Our Fixed deposits offer attractive interest rates (good return on Investment) for a pre-defined tenor. Investment  your money and know exactly what you will receive at maturity
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