1) This product is basically for group customers

2) Customer/client must his/her passbook

3) Passport photograph must be attached to the card and duly signed and stamped by a superior officer.

4) Account officer must be assigned to each customer, the name and phone number of the account officer must be written on the client passbook.

5) Client must come for interview with his/her guarantor

6) Applicant/guarantor must present:

a) Means of identification, e.g. Voters card, National I.D card, valid driver’s license, International passport, Registered Association I.D card, Lasra ID Card.

b) Utility bill if he/she is the owner of the house, if not,

i) current house payment receipt must be presented,

ii) Shop receipt if he/she has a shop.

c) Guarantor must be working, mature and above 30 years.


Features & Benefits

1) Group must consist of a minimum of 5 members and a maximum of 10 plus a chairman and a secretary

2) Meeting must be held twice before they come for interview

3) Minimum equity balance of N4,100 for starting loan facility of N30,000

4) Disbursement is always after the third group meeting has been held

5) Loan duration of 24 weeks

6) Attract weekly compulsory savings plus loan repayment

7) Compulsory passport taken by the bank official for the applicant and guarantor.

8) Easy to access.