Frequently asked questions

How do I prequalify for a loan?

- You should be between 21 years and 55 years old. - You should have an active phone number. - You must have a verifiable source of Income. - You must have an account with a commercial Bank in Nigeria. - You must not have a history of returned cheques on your Account. - You must have a clean Credit Bureau Report.

What are the required documents to obtain a loan?

- One recent passport sized photograph - Work ID card and any other valid means of ID. - 6 months statement of your Salary Account (showing the last 6 salary payments). - Postdated cheques drawn on your salary account for monthly repayments

What is the minimum and maximum amount I can borrow?

Minimum amount is NGN50,000 and maximum amount is NGN1,000,000 for personal loans. Minimum amount is NGN50,000 and maximum amount is NGN5,000,000 for personal loans.

How do I repay my loan?

You will issue post-dated cheques on your salary account for the monthly repayments or a standing-order mandate will be sent to you for activation at your bank for the monthly repayments.

Can I pay down my outstanding loan before the end of the loan tenure?

Yes, you can pre-liquidate your loan. You will charged the interest applicable for the month in which the loan is being pre-liquidated. The interest for the month in which the loan is being pre-liquidated will not be prorated.

How do I apply?

- Through Online Application - You can also complete the application form and attach the required documents online with ease. (b) You can download the Application Form, fill it and scan to with the required documents, and your loan qualification status will be communicated to you within minutes.

What do I do if there is a salary delay and my account is not funded?

Send an e-mail to stating the issue and you will receive a feedback.

Can I have multiple loans?

No, you are only allowed to have a single loan at a time. But, you can apply for a top-up on your existing loan provided you have repaid 50% of the principal amount of the existing loan facility.

Can I make part payment of my installment amount before my repayment due date?

Yes, you can. However, you will have to pay up the balance before the due date as stated and approved in your loan repayment plan

How long would it take for my loan to be approved?

Within 24 hours after all documentations have been submitted and due diligence conducted.

Can I make payment to the Company’s account for my cheque not to be presented?

Yes, payment in lieu of cheque presentation is allowed. However, you need to inform us about your repayment preference at least 24 hours before the due date on your cheque.

Are there other charges on your loan apart from the interest?

No, however, penal charges apply on late payment and defaults.

How long do I have to wait after repaying a loan in full before I can reapply for a new one?

There is no wait time. When your loan has been fully repaid, you can apply for another loan immediately. However, only customers with no history of default will qualify for a new loan.