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.

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)

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

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.

Thanks for your anticipated useful response.

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.

manie:

Where is the property located? If your property is located in a good area and you have C of O to the property, you should be a able to get a loan.

If you have shares in blue chip companies, the shares will act as a very good collateral.

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

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

steffans: First Bank Use to have a product called U-first.. i dnt knw if dey still have it..
since u have bin using d acct 4 upto 10 yrs den u are good 4 d loan...
dey will see hw constant ur salary comes in...
dey will come to ur office and ask if u have collected in house loans..
dey will ask for ur pay slip..
dey will calculate d ammount u can get..
depending on ur salary/wats on ur pay slip..

it all depends on ur bank...

Good Luck!!!

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?

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.

Thanks for your anticipated useful response.

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?

adeshsam: Bankers, please advice further regarding the topic, i;m interested.

Please, let here from you.

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.

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.

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 them
2. ur application letter
3. ur salary statement of account for 3 months
4. letter of introduction/undertaking from ur employer

Can 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

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...

Story Story

Go to Any FCMB Branch and fill d form. U must b a confirmed staff bf

Lollll yielding ke huzzling goes on

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.

Gloryroad: Story Story

I was with firstbank over a year, No show, all stories
Went to standard chart for 6 months Stories
Now Diamond bank for up to 5 months more stories
I earn 194k, work in a good company but not blue chip or govt, my company also have account with this 3 banks

All I ask for in each bank is 300k

Note : not as if I really need this Loan but I won't bank in a place I cant secure loan, God forbid there is n emergency, So my bank won't be able to do anything abi?

Don't waste ur time unless they really make a special arrangement or your company is ready to do chinese bending to satisfy them.

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.

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:

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?

*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:

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?

Pls I need to know which acct is best as salary acct.Savings or current?

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.

ajbest:
Can 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

As a S.E person You have no chance, so forget it.

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.
I can't be using a particular bank for 12yrs and not benefiting from them hence my decision to seek for advice here. |With what you guys have told me, it appears I have a greater chance of getting the loan. I will approach them God willing next month and will inform this Forum of the outcome.



Regards.

First bank has a microfinance subsidiary that does that(give loans). Though, u might need a first bank staff as guarantor.

manie:



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.

How much worth of Land do I need to access a loan E.g 300k?

Gloryroad:

How much worth of Land do I need to access a loan E.g 300k?

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.

[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.

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.

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.

kcddon: Instant cash loans and Point of Sale (POS) loans, Simple Savings


http://www.rencredit.com.ng

i 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

manie:

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.

@ manie.We are not Rencap........We are rencredit

adegbebi:



@ manie.We are not Rencap........We are rencredit

Rencap is RENNAISSANCE CAPITAL WHILE RENCREDIT IS RENAISSANCE CREDIT.