This product is designed for individual/ corporate entity who are aiming to purchase tangible assets e.g. landed property, Machinery and Equipments.
Objective: Objective: To support the customer in securing the desired asset
FEATURES:
- Account Opening balance is N5,000 for individual current account and N10,000 for corporate current account
- Minimum of 30% to be provided by customer
- Interest rate @6% per month reducing balance
- Loan application form fee 1,000
- Credit search fee 1,000
- The asset serves as the collateral
- Tenor is 1 – 12 months
- Upfront Charges is 5% flat
- Security: 2 guarantors with 2 leaflets undated cheque, asset to be purchased in bank’s name and pledge of household items
- Loan will be duly guaranteed