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Nairaland Forum / Nairaland / General / Business / How Can I Obtain A Salary Loan From Bank (31994 Views)
Salary Loan / Salary Loan / I Need A Loan From Micro-Finance Banks (2) (3) (4)
Re: How Can I Obtain A Salary Loan From Bank by Nobody: 3:24pm On Apr 19, 2013 |
A civil servant whose salary is not constant, will any of the banks grant such a person a loan? For instance, salary may be delayed for up to two or three months. |
Re: How Can I Obtain A Salary Loan From Bank by miccodb(m): 4:51pm On Apr 19, 2013 |
1. Salary domiciliation 2. 3 months payslip 3. 6 months statent of account 4. Letter of employment/conformation Get these 4 and proceed to stanbicibtc bank to get a UPL(unsecured personal loan) |
Re: How Can I Obtain A Salary Loan From Bank by integrityfood: 5:58pm On Apr 19, 2013 |
ajiifixing: Walk into any stanbic ibtc bank.as long as you can move your salary to them, you loan is sure. Sorry Stanbic IBTC like all other banks will only treat loan cases of people working with blue-chip coy n govt establishments!!! i have been there and were not helpful. they say if you have been banking with them for long they might help. And they also mentioned that for you to qualify for asset finance, you must earn 90k + I have said it earlier, our system is not helping the poor. Am listening if things have change though |
Re: How Can I Obtain A Salary Loan From Bank by Nobody: 6:31pm On Apr 19, 2013 |
Fesco: Please I have heard of some employees who obtain loans from banks and get debited at the end of the month over a period of time. I would like bankers in the House to kindly educate me more as I intend to apply. Please don't apply unless the loan is short term basis and the venture is surely gonna yield huge profit for you...the least interest rate is first bank which is about 22%, other banks are about 24 and higher. That means if you borrow 1 million, you will be paying back 1,220,000 naira by first bank interest rate within the first year. Any unpaid loan after the first year will be transferred to the next financial year and prevailing interest rate applied. It just not worth it unless u are a big business person looking for a short term loan to finance a contract or shipment. Pls be informed. 1 Like 1 Share |
Re: How Can I Obtain A Salary Loan From Bank by integrityfood: 6:49pm On Apr 19, 2013 |
manie: Thanks for your concern my brother. my property is in ikorodu with 3 bedroom bungalow. I am not interesting in using the property for loan anymore except with a big bank who will not be interested in my small house like the stories making the rounds that roadsides money lenders are diabolical who will stop at nothing till the frustrate you and take one's property |
Re: How Can I Obtain A Salary Loan From Bank by integrityfood: 6:51pm On Apr 19, 2013 |
Bams95: @Op,i work with Fidelity Bank plc.i will like to discuss with u.u can call me on this number 08066206907 If you are real and not scam reveal your identity; your name, branch and d product. This way you will help clear doubt and prove your integrity whereby attracting more customers |
Re: How Can I Obtain A Salary Loan From Bank by begwong: 7:09pm On Apr 19, 2013 |
steffans: First Bank Use to have a product called U-first.. i dnt knw if dey still have it..no more U_first facility in Fbn. Nonetheless,other types of loans exist including the type u are seeking. doea yr mnthly salary go to d bank you intend to borrow from? |
Re: How Can I Obtain A Salary Loan From Bank by DejiOluyem(m): 7:25pm On Apr 19, 2013 |
OP, I am a Marketer at Enterprise Bank, we give salary loans provided your salary acct is domiciled wt us. All you need is to get documentatn of your bank statement and letter of recommendatn from ur HR stating ur salary every month and standing in as a guarantor should u default in paying. Dats all. We will surely give u d loan. Fesco: Please I have heard of some employees who obtain loans from banks and get debited at the end of the month over a period of time. I would like bankers in the House to kindly educate me more as I intend to apply. |
Re: How Can I Obtain A Salary Loan From Bank by integrityfood: 7:37pm On Apr 19, 2013 |
DejiOluyem: OP, I am a Marketer at Enterprise Bank, we give salary loans provided your salary acct is domiciled wt us. All you need is to get documentatn of your bank statement and letter of recommendatn from ur HR stating ur salary every month and standing in as a guarantor should u default in paying. Dats all. We will surely give u d loan. Irrespective of the size of the company?? how much loan is available to a custmer on what are your basis of computation? pay back period and interest. ( the maximum ceiling one can borrow? |
Re: How Can I Obtain A Salary Loan From Bank by smartjyke(m): 7:38pm On Apr 19, 2013 |
adeshsam: Bankers, please advice further regarding the topic, i;m interested. Well, such loans are highly reserved for civil servants and big time company employees though there are no restrictions. Another factor is the bank where your account is domiciled. Hence you are not tied to table payment it will be advisable to move your current salary account to a bank that would give you what you want. All you need do is to approach the bank and make enquiries. In our case, the process is handy and easy. I encourage you to visit the nearest First City Monument Bank at your area. See the BHOP or Credit Direct Ltd. I cant explain further at the moment cos am busy. Later. |
Re: How Can I Obtain A Salary Loan From Bank by integrityfood: 7:57pm On Apr 19, 2013 |
All the banks have similar rules: civil servant or blue-chip companies otherwise you are on your own. pray you do not need these banks. |
Re: How Can I Obtain A Salary Loan From Bank by ajbest(f): 8:33pm On Apr 19, 2013 |
chidad: If u are a civil servant or u work with one of the bllue chip companies, u can approach Union Bank cos i know they give up to a million naira loan to people who fall into such category. all they require is: 1. u should operate an account with themCan sm1 who is self employed wt a current acc n also xpectin abt 10M in2 d same acc cos I use it as d acc where ma late mums gratuity wud be paid in stand a chance 4 any loan? I need help tanx |
Re: How Can I Obtain A Salary Loan From Bank by djcrown(m): 8:37pm On Apr 19, 2013 |
i am a batch A youth corp member. I'd also like to know if ecobank can give me loan and deduct on monthly basis from my allowee... |
Re: How Can I Obtain A Salary Loan From Bank by Gloryroad: 7:23am On Apr 20, 2013 |
Story Story |
Re: How Can I Obtain A Salary Loan From Bank by ukchy: 7:39am On Apr 20, 2013 |
Go to Any FCMB Branch and fill d form. U must b a confirmed staff bf |
Re: How Can I Obtain A Salary Loan From Bank by ibkgab001: 7:51am On Apr 20, 2013 |
Lollll yielding ke huzzling goes on |
Re: How Can I Obtain A Salary Loan From Bank by badesco(m): 9:56am On Apr 20, 2013 |
This salary loan has been on for quite sometime now,anyway all you need do is a good job, a valid i.d card, utility bill, your pay slips (6months) a letter of a guarantee from your employer and a letter would also be sent from the bank to your employer. The interest rate is about 18% or more, some lower but depend on the bank and you will need to pay some admin fee. The loan duration is between i year or more. |
Re: How Can I Obtain A Salary Loan From Bank by manie(m): 10:21am On Apr 20, 2013 |
Gloryroad: Story Story How long have you being working? I will advice anybody who is working to use part of his salary to buy tangible assets that can qualify for collateral whenever you want to obtain loan from financial Institution. If you have a property that has C of O, or you have investment in quoted companies you should not have problem getting a loan of just 300k. It is when we need loan that we will realise that our cars, clothes, furniture, computers, phones, electronics etc are not assets that can be used as collateral. |
Re: How Can I Obtain A Salary Loan From Bank by DejiOluyem(m): 11:29am On Apr 20, 2013 |
Size of d company: 10+ employees *Salary domiciliation *Six months bank statement wt previous bank *U can access up to N5M largely depend on ur salary *Letter of comfirmation and acknowledgement frm ur HR stating ur salary and debt profile wt other inhouse cooperative or banks. *interest rate is 24percent but negotiable depending on volume *30percent salary deductn on repayment every month *maximum tenure of 3years to be calculated on each year interest rate any other info: call me on 07039818617 integrityfood: |
Re: How Can I Obtain A Salary Loan From Bank by DejiOluyem(m): 11:37am On Apr 20, 2013 |
*Size of d company: 10+ employees *Salary domiciliation *Six months bank statement wt previous bank *U can access up to N5M largely depend on ur salary *Letter of comfirmation and acknowledgement frm ur HR stating ur salary and debt profile wt other inhouse cooperative or banks. *interest rate is 24percent but negotiable depending on volume *30percent salary deductn on repayment every month *maximum tenure of 3years to be calculated on each year interest rate *2percent admin/processing charge *dats all any other info: call me on 07039818617 integrityfood: |
Re: How Can I Obtain A Salary Loan From Bank by mercifull(f): 1:31pm On Apr 20, 2013 |
Pls I need to know which acct is best as salary acct.Savings or current? |
Re: How Can I Obtain A Salary Loan From Bank by basadenet: 2:12pm On Apr 20, 2013 |
mercifull: Pls I need to know which acct is best as salary acct.Savings or current?Any of the account is suitable but when it comes to loan, you need current account. |
Re: How Can I Obtain A Salary Loan From Bank by basadenet: 2:40pm On Apr 20, 2013 |
ajbest: As a S.E person You have no chance, so forget it. |
Re: How Can I Obtain A Salary Loan From Bank by oiseworld: 4:01pm On Apr 20, 2013 |
Fesco: I want to thank everyone for your useful contributions to my enquiry. I have been with my firm for like 12yrs now. My office bank with Skye Bank and that compelled them to open staff salary account with them for easy funds transfer. First bank has a microfinance subsidiary that does that(give loans). Though, u might need a first bank staff as guarantor. |
Re: How Can I Obtain A Salary Loan From Bank by Gloryroad: 6:00pm On Apr 20, 2013 |
manie: How much worth of Land do I need to access a loan E.g 300k? |
Re: How Can I Obtain A Salary Loan From Bank by manie(m): 5:05pm On Apr 21, 2013 |
Gloryroad: The land should be worth a minimum of 600k, and most have certificate of occupancy. If you have blue-chip stocks valued at 400k, it can serve as collateral for a loan of up to 300k. |
Re: How Can I Obtain A Salary Loan From Bank by Fesco: 12:13pm On Apr 23, 2013 |
[quote author=life_style]I will advice you not to do this.... Here is my reason. By April 2013 it will be exactly two years which my dad obtained a loan of 150,000k to pay for my tuition fee at NIIT, he got the loan through his current salary account with union bank. his salary was less than 30k N9,300 is been deducted from his salary account Since April 2011 to April 2013 (N223,200K) The sum of N73,200.00 was charged as interest for a period of two years. I think it was a good deal. Taking into cognizance what you have achieved so far with the money. |
Re: How Can I Obtain A Salary Loan From Bank by adegbebi: 7:36am On Apr 27, 2013 |
I work with renaissance and we meet the customers needs within 12hrs.Just call adebanjo on 08066462064.we ave been tried and tested.our major goal is to meet needs of people who don't ave the ability to pick up facilities from d bank.simple and fast money solution..dats wat we offer. |
Re: How Can I Obtain A Salary Loan From Bank by manie(m): 3:19pm On May 01, 2013 |
adegbebi: I work with[b] renaissance [/b]and we meet the customers needs within 12hrs.Just call adebanjo on 08066462064.we ave been tried and tested.our major goal is to meet needs of people who don't ave the ability to pick up facilities from d bank.simple and fast money solution..dats wat we offer. Renaissance does not deal with retail customers or Investors. Rencap Securities the stockbroking arm of renaissance does a accept 10 Million Naira to open a stockbroking account with them. Renaissance is for High Networth Customers. |
Re: How Can I Obtain A Salary Loan From Bank by kasonud(m): 7:40pm On May 01, 2013 |
kcddon: Instant cash loans and Point of Sale (POS) loans, Simple Savingsi approached them for a loan 150,000 and was told my business must be registered,do you ve an experience with them?or any means of getting such loan |
Re: How Can I Obtain A Salary Loan From Bank by adegbebi: 6:46am On May 09, 2013 |
manie: @ manie.We are not Rencap........We are rencredit |
Re: How Can I Obtain A Salary Loan From Bank by adegbebi: 6:47am On May 09, 2013 |
adegbebi: Rencap is RENNAISSANCE CAPITAL WHILE RENCREDIT IS RENAISSANCE CREDIT. |
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