Personal Loan
Applicants are advised to choose products under this category if the following criteria are met
Scenario/Condition | Acceptable response |
Amount needed | Material |
Income source | Fixed |
Income fluctuation | None |
Ability to absorb deductions for a long period | Positive |
Possibility of transfer or retirement | Very unlikely |
Average net salary left after loan deduction | 70% |
Conditions
Applicant can access up to N2,000,000 which can be spread up to 12 months
Eligibility
- Salary earner
- Receives salary via current account
Documentation required
- Account opening form for new customers (click here)
- Loan form (click here)
- Application form stating amount, duration and purpose
- Office id and recent passport
- One year salary statement of account
- Post dated cheques for duration of loan
- Two Guarantors with their latest payslip and office ID if under IPPIS.
- Post-dated cheques for duration of loan if not