In a country where most people earn salaries on a monthly basis, landlords and property owners expect prospective tenants to pay 1-2 years rent upfront. With this product, we are offering you the opportunity to spread your rent payment up to a period of 12 months.


It takes 48-72 hours for the cash to be disbursed so long you meet the eligibility requirements and submit all required documents.

See Frequently asked questions below…)

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Frequently Asked Questions

 

What is the minimum and maximum rental loan amount I can apply for?

 

           The minimum rental loan is N100, 000 naira and a maximum rental loan of up to N4,000,000 naira

 

Who is a salary earner?

 

           A person who works with a registered and reputable organization, operates a salary account and receives a regular and consistent payment every              month.

 

Do you give business owners rental loans?

NO

 

Why do you deal with only salary earners?

 

           Collateral is not needed from applicants, therefore the cheque of the clients or their guarantors stand as a guarantee to the rental loans.

 

Is there a universal interest rate for all applicants?

 

          Different applicants have different risk levels which is determined by a number of factors. Therefore, all applicants cannot be placed on the same             interest rates because the higher the risk level the higher the interest rate.

 

What are the factors that affect interest rate?

 

Credit history (if the client is currently servicing a rental loan or has defaulted in a previous rental loan)Tenor or rental loan durationProvision of guarantor

 

What is the interest rate?

 

           The interest rates are between 3.5% – 4.5%

 

What are the required documents necessary to support my rental loan application?

 

          Requirements – Applicants

Duly filled application form2 passport photographs2 forms of identification (work and government)6 months bank statement (stamped)Copy of employment offer letter from company’s HRUtility bill of recent 3 monthsPost dated cheques (for current account holders)Duly filled guarantor form and guarantor cheques (for savings account holders)

NOTE: Clients who do not have a current salary account would be expected to provide a guarantor with a current salary account as the guarantors cheques would stand as a guarantee

What is the documentation process like?

 

           When applying for a rental loan, the applicant is expected to send in the complete documents not some, before the client would be said to have                  brought in their documents.

 

How long does it take for the money to be disbursed?

 

          It takes 48-72 hours for the money to be disbursed so long as the client’s documents are all complete. Note that a transaction cannot move                         forward until all the documents are COMPLETE.

 

How about when what I need is more than what I can get?

 

          Rental loans for applicants are approved based on what their salary can accommodate. When an applicant needs a rental loan amount that is more           than what his/her salary can accommodate, the loan will only be disbursed considering the amount that the clients’ salary can accommodate.

 

What happens when I lose my job or can no longer afford to pay?

 

           The key here is communication. When a client loses his/her job or cannot afford to pay back, the client is expected to inform Rosabon Financial              Services before the due date for the next payment. We have a team dedicated to advising on and restructuring of rental loan payment.

SOURCE : https://brandspurng.com/you-can-now-pay-your-rent-monthly/