1)  The applicant must be an existing customer of the Bank with minimum operation of his/her account for six months and with a good turn-over. 

2)  He/She must have good business or source of income that can conveniently accommodate the re-payment the facility. 

3)  A written application letter must be submitted. 

4)  Application form must be duly filled by both applicant & guarantor.

5)  Passport photograph of the applicant and the guarantor must be attached to the application form.

6)  Means of identification for both the applicant and guarantor must be attached to the application form.

7)  The applicant must submit his/her house/shop receipt, PHCN bill if he/she is the owner of the house.

8)  A senior officer must conduct interview for both applicant and guarantor before appraisal is done.

9)  For loan above N100, 000, security/collateral must be taken from the customer e.g. C of O of property, original land purchase receipt, survey plan, building plan of a property.

10)  Loan facility above N100,000 must be from current account.

Features & Benefits

1)  Compulsory savings of 15% as the equity contribution of the facility.

2)  It enables customers to expand his /her business.

3)  Attractive & convenient interest rate.

4)  Clients can accelerate repayment in order to reduce interest payment.

5)  Clients choose its convenient repayment method (daily, weekly, or monthly)

Loan Financial charges

Interest rate =  4.5% flat.

Process fees = 2.5%.

 Insurance = 1%

Legal Fee = 2% (where applicable).