Frequently Asked Questions
Here are some of the frequently asked questions:
How do I apply for a loan?
There are majorly two ways to apply for a loan
From our website (fill the application form)
Walk into any of our office, and obtain a form
What are the eligibility criteria for getting a loan?
You must be a salary earner in a paid employment(private or public) with a reputable establishment.
A business person with good financial record of dealings.
Are there minimum and maximum amount that can be borrowed?
The minimum borrowable amount is 50,000.00 Naira, and the and the maximum is subject to the borrower's financial capability.
Can I get an extension on my loan?
Yes, once per transaction.
What is the meaning of DTI?
DTI means debt to income ration: it is a technical term that determines what an individual can access per time relative to his/her net income.
What are consumable goods?
These are goods that are on demand on regular basis.
What are non-consumable goods?
These are goods that are not on demand on regular basis.
May I take multiple loans at the same time?
Yes. Terms and conditions apply.
How long do I have to wait after my loan has been fully paid to get another one?
How do I receive my loan after approval?
Direct credit of submitted bank account(s).
How do I repay loans?
The loans are repaid through:
Bank transfer to our specified commercial bank account
Is it possible to change the amount applied for?
Yes, before disbusement.
Is a credit check required before loan approval?
How would I know if and when my loan has been approved?
You will be notified through your relationship manager(our staff) or SMS.
What are the requirements to access loan?
Must have a legal and steady source of income
Recent bank statement(at least 6 months)
Recent passport photograph
Recent utility bill(not later than 3 months)
How long does it take to get a loan?
Within 24 working hours
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