Last Updated on July 1, 2024 by admin
Are you aware that some major Microfinance Banks in Nigeria (MFBs) offer Payday loan and Salary Advance to qualify customers. According to data from the Central Bank of Nigeria,MFB has given a total loan to the private sector of N761.4 trillion.
Nigeria salary earners looking for a quick cash to settle immediate needs before the need payday could apply for payday loan or salary advance loan with any other following microfinance bank in Nigeria.
1. Assets Microfinance Bank
Assets Microfinance Bank offers payday loans to Bankers, staff of IOCs, Blue Chip Companies and other businesses. The Salary Advance Loan is in two forms:
i: SALO Mini
ii: SALO Max
SALO Mini:
Features & Benefits :
– Employees of both private and public institutions.
– Attractive interest rate.
– Little documentation requirement.
– Quick turnaround time (TAT).
– Flexible repayment plan .
SALO Max:
Features & Benefits :
– Loan amount is between N500,000 – N5,000,000.
– Must be a salary earner.
– Appointment /Confirmation/promotion letter.
– Customer’s pay slip/Bank Statement for six month.
– Confirmed guarantor with an undated cheque.
– Staff I.D Card & Any form of identification (Any of the valid ID card).
– Interest rate of 5% (Reducing).
– Admin Fee of 1%.
– Tenure between 30 – 360days.
– One guarantor
2. Lapo Mfb salary advance loan
Lapo offers public sector loans to Government workers across the country and state workers within Lagos & Edo states respectively . Before you can qualify for the salary advance loan you should be employed and already working in one of the government public sectors in Nigeria.
Lapo Mfb salary loan is open to applications from Federal workers across the country and state workers within Lagos & Edo states.
Also before you qualify, you must have an active Account and also provide your commercial bank account details. the bank needs this to send your money to you should your loan request be approved.
you should be of Age :18 years and above as the loan eligibility age.
Have valid IDs : We only need you to upload
(a.) Staff Id ,
(b.) Payslip, and
(d.) Passport photograph.
How to apply for Lapo public sector {salary advance loan}
To apply for lapo mfb salary advance loan you follow this link: https://ps.lapo-nigeria.org/ and complete your application .
3. CIT Microfinance Bank salary advance loan
To apply for CIT mfb salary advance loan, you must meet the following requirement
Minimum requirements for a loan
1. Be at least 18 years of age
2. A valid BVN
3. A personal email account
4. A personal bank account
5. A Debit Card with at least 3 months Validity
Follow the link below https://loan.citmfb.com/sign-up/create-account to apply.
