Individual Loan

Features

• 1) See interest rates below
• 2) Capacity is calculated using the account statement. Statement of account with other banks to be provided by new customers
• 3) Pay slip to be provided by Salary Earners whose salary is not domiciled with the Bank
• 4) Other Charges are as stated below

• Required Guarantors by Loan Amount:

  #100,000.00 and below: 1 Guarantor

  #100,001.00 - #200,000.00: 2 Guarantors

  #200,001.00 - #1,000,000.00: 2 Guarantors

  #1,000,001.00 and Above: 3 Guarantors

• Interest Rates

• Salary Domiciled

  Interest Rates are between 24% to 28% depending on Loan Tenure

  Non-Salary Domiciled

  Interest Rates is 30%

  Independent Persons

  Interest Rates is 30%

• Charges Chart by Loan Amount:

• Management Fee

  1% of the loan amount upfront

• Advisory Fee

  #100,000.00 and below: N2,000.00

  #100,001.00 - #200,000.00: 2% of Loan Amount

  #200,001.00 - #500,000.00: 3% of Loan Amount

  #500,001.00 and Above: 4% of Loan Amount