Last Updated on July 1, 2024 by admin
Stanbic IBTC bank offers different kind of loan facility to customers ranging from Stanbic IBTC EZCash, Business Loans and Payday. Car loan and salary in Advance loan. The financial institution believe in your success to expand your operations, create opportunities and grow your business as well achieve so much more with your account.
For the purpose of the article we are going to take a look at various Stanbic IBTC bank loan package.
Read: Stanbic Bank IBTC USSD Code: How To Activate it, block account and open account On Your Phone
1. Stanbic IBTC EZCash
This stanbic IBTC EZCash is a quick cash product that can gives customers funds ranging from 20,000 Naira to 4,000,000 Naira at an interest rate of 2.5% monthly to pay back within 12months.
The term loan offers eligible active current account holders with stanbic ibtc at least 12 months old with the bank.Borrower should not be less than 18years as at the loan application date and maximum of 59years. Also borrower must not have any history of dud cheques and must have satisfactory credit reports.
One good about stanbic IBTC EZCash, customers can borrow as many times as they require, provided the cumulative sum of total amounts borrowed does not exceed their maximum assigned limit.Though the loan limit will depend on their average monthly income and the monthly loan repayments on existing loans (if any).
What is the charges/fees for stanbic IBTC EZCash
During the loan application process , the bank will charge you the following:
1. Management fee of 1% on amount borrowed
2. Value Added Tax (VAT) of 0.05% on amount borrowed
3. Insurance fee of 0.35% on amount borrowed
For stanbic IBTC EZ Cash for SMEs customers can now get up to N5million instantly to meet their business needs at an interest rate of 2.5% monthly and pay back over a period of 1 – 12 months.
Stanbic IBTC Bank *909# :How to Transfer Money and check account Balance
How to apply for stanbic IBTC EZCash for SMEs
1. You can request for EZ Cash for SME instantly by dialing *909*44#
EZ Cash for SME is also available on all Stanbic IBTC online and mobile banking platforms (Internet Banking, Enterprise Online, Mobile App)
2. Input all requested details (Amount, repayment period)
3. Upon successful credit evaluation and checks a loan offer is presented with duration and applicable interest based on user’s current risk score
4. Read through and accept the Terms & Conditions which will contain consent to having 4. 5. your account debited for repayment at loan due date and provide your debit card details to be debited
6. Your account will be credited immediately.
2. Stanbic IBTC Salary Advance loan
Stanbic IBTC Salary Advance loan is a revolving loan that help employee who’s salary account domicile with the bank get through the though times and you simply need to repay 15% of your loan.
The minimum loan amountis N20 000 and you can choose to revolve your loan and re-use the re-paid amount. You must earn at least N40 000 per month and must have Minimum loan amount is N20 000.
Borrower must have been with their employer for at least six months and must be 21 years or older (but not older than 60 years when the facility would end). In the case of a contract worker, you need to be contracted to an approved company and must have valid contract terms.
How to apply for stanbic IBTC salary advance Loan
To apply for stanbic ibtc payday loan kindly Visiting nearest Stanbic IBTC Branch to apply or Calling 01 422 2222 you can as well email CustomerCareNigeria@stanbicibtc.com
3. Stanbic Ibtc bank Smart Loan { Overdraft }
Stanbic Ibtc bank offer Overdraft for unexpected circumstances or increase your existing limit online by simply applying for a Smart Loan.
How to get Stanbic Ibtc bank Smart Loan { Overdraft }
Existing and New to Bank customers with minimum SIAML Fund of N50,000 can apply for this facility. Though customer will be required to show proof of source of repayment which will be most recent 3months payslip from their employer or other proof of regular source of income as acceptable to the Bank. Accommodate customers who do not have regular source of income but have bank statements that support cashflow.
2. Your salary must be paid into a current account with Stanbic IBTC Bank and Must be 21 years or older.
3. You have to be a Nigerian citizen with permanent residency.
4. You can access up to 80% of your Investments as a loan whenever you need it without terminating your investment.
5. Maximum tenor of 48 months for Term Loans
6.Access to our 24 hours business support helpline
7.Full e-banking options, which include internet, mobile and USSD banking
4. Stanbic Ibtc Home loan
Stanbic Ibtc bank provide home loans for the following areas: Lagos, Ibadan, Port Harcourt, Ogun, Abuja, Kano, Kaduna and Benin with flexible principal repayment options – you can pay monthly, quarterly or once or twice a year.
For self-employed, the maximum repayment period is seven years, salary earner can repay loan for as long as 20 years. The minimum loan amount is N3 million and minimum property value for providing a equity release loan is N5 million.
How to get Stanbic Ibtc bank home loan
1. To qualify for Home loan ith stanbic ibtc bank,You must be a confirmed staff member at your place of employment.
2. Be a minimum of 21 years and not more than 60 years at the end of the loan tenor (65 years for judges and lecturers)
3. Earn a minimum net monthly income of N200,000 for an outright purchase, and N140,000 for an equity release loan.
4. Have a good credit report and no returned cheques in the last 6 months
5. Have your salary account (current account) with Stanbic IBTC Bank
5. Stanbic Ibtc Vehicle and Asset Finance loan
Stanbic Ibtc Vehicle and Asset Finance (VAF) is a medium-term facility customized for salaried and non-salaried customers to buy movable and immovable assets, such as motor vehicles and power generators.
The loan facility has Competitive interest rates with fixed repayments of 4 Years. customers has access to comprehensive dealer/partner network to help them find their dream car
How to apply for Stanbic Ibtc Vehicle and Asset Finance loan
1. To get a car laon from stanbic ibtc bank you need to completed application form
2.Proof of income/evidence of salary
3.A proforma invoice for your vehicle or asset of choice (preferably from a Stanbic IBTC partner dealer)
4. Visit nearest Stanbic Ibtc branch or Call 01 422 2222
6. Stanbic Ibtc Agribusiness Loan
The Agricbusiness loan offer by stanbic ibtc bank is designed as Financing solutions for agricultural enterprises from resources and equipment, vehicles and farming equipment to seasonal cashflow.
It has Flexible repayment terms based on the type of funding you need
7. Stanbic Ibtc bank School lending:
Stanbic Ibtc bank School lending is a short to long term facility available to privately owned schools for the establishment, expansion or upgrade of basic and specialized facilities. It can also be used for Working Capital, Asset Finance, Term Loan Credit Facilities.
The School lending loan tenor is 12 months for Working Capital, and maximum of 7 years for Term Loan. It has competitive Interest rate and Management fee of 1%.
Interested borrower can borrow Any amount, subject to a maximum of N500 Million for Working Capital requirement and N5 Billion for Term Loan.
How to apply for Stanbic IBTC EZCash loan for SME
8. Stanbic Ibtc Distributor Finance
This is flexible loans to help maintain cashflow for large manufacturer, or a distributor of wholesale goods, Distribution Supply Chain Finance..It has Long and short term repayment plan
How to apply for Stanbic Ibtc Distributor Finance
1. You will be requested to provide the following documentation on applications:
2. Letter of Introduction of the Distributor from the Principal
3. Statement of account with Principal (past 12 months)
4. Facility letters of existing/previous facilities with other banks
5. 6 -12 months banks statement
6. Three year audited financials (Where applicable)
7. Distributor’s letter of request
8. Inventory report and collateral documentation
9. Company’s profile and incorporation documents
9. Stanbic Ibtc Bank Invoice Discounting loan
With stanbic ibtc bank Invoice Discounting Facility, your business can draw money against invoices issued for completed contracts before payment is received from your creditors.
You can get Up to 80% value of the invoice can be discounted.it help Immediate cash flow for your business, allowing for continuous growth and cash management.
How to Apply for Stanbic Ibtc Bank Salary advance and Payday Loan
How to apply for Invoice Discounting
1. Formal application letter
2. Board Resolution (if a limited liability company)
3. Copy of the supply order
4. Copy of confirmed invoice from supplier
5. Copy of delivery receipt and certificate of contract performance
6. 12 months’ bank statements (for new to bank customer)
7. Duly executed statement of personal guarentee of company owner(s)
Then apply for Invoice Discounting at the bank
10. Purchase Order Discounting
Stanbic Ibtc bank Purchase Order Discounting is service business can fulfil orders and pay suppliers. Get working capital to keep your business moving forward.
The features of the loan are:
1. Working capital to execute contracts.
2. No need to provide tangible collateral.
3. Make repayment of the loan when your contract is paid
4. Financing of up to 64% of the value of the purchase order.
4. Domiciliation of proceeds with the bank.
5. Loan tenure of a maximum of 120 days
