Nirsal Microfinance Bank has lunched new loans schemes different from the common ones they were known for . In this write-up , you will know
- NEWLY LUNCHED NIRSAL MICROFINANCE BANK LOANS YOU CAN BENEFIT FROM
2. HOW MUCH YOU CAN ACCESS FROM ANY OF THESE LOAN SCHEMES
3. INTEREST RATE OF THESE LOANS
4 . MORATORIUM
5 . REPAYMENT PERIOD
6. HOW TO APPLY FOR THESE LOANS
7 . WHERE TO GET NIRSAL MICROFINANCE BANK NEAR YOU
NIRSAL MICROFINANCE BANK which is well known for disbursing federal government intervention funds has launched its loan schemes . From these schemes , you can obtain three hundred thousand to Millions of Naira .
Now , let me take you through these three loan schemes you can access
NMFB SALARY ADVANCE
This loan is specially designed for government salary earners .That is to say , the loan is meant for civil and public servants .
HOW MUCH CAN YOU ACCESS FROM SALAD LOAN : while interacting with one of the staff , I was told that only three hundred thousand can be obtained
now . However , the facility will be increased later.
NMFB PETTY CASH NOW NOW :
the petty cash now now is designed for Artisans , petty traders . (products :food , electronics , allied products . computers /phones .spare parts , building material , etc) available products include MICRO –LOAN PETTY CASH NOW NOW .
via this loan scheme one can obtain five hundred thousand and below without security and your business need not be registered with Corporate Affairs Commision but you must fall into the aforementioned categories : Artisans and petty traders
NMFB SME LOAN
: This is mainly for small , medium enterprises . Via this scheme , you can access at least one million Naira or above . There are conditions attached to this loan . To access anything above one million Naira , you must provide security worth at least 120 percent of the facility to be taken .
In this case for an instance ,if you are borrowing 1 million Naira , the security /collateral provided should have worth or current value of 1.2 million Naira.
The security to be provided could include vehicles , land , etc .
HERE ARE THE MAJOR CONDITIONS OF THESE LOANS
- MORATORIUM : unfortunately , there is no grace period for all these loans . once you collect it , you start paying back the next month.
Let’s assume you collected money any of the loans in the month of September , you will start paying back from the month of October .
- INTEREST : interest rate for all these loans is 23 percent per annum . This simply means that interest to paid back monthly is 1.9 percent monthly and I must confess this is not bad at all . If you borrowed one million Naira loan , your interest every month will be 19,000
- REPAYMENT PERIOD : Again , you have only one year to pay back the loan borrowed
HOW DO YOU APPLY FOR THIS LOAN ?
The application of these loans is not done online . To apply for any of these loans you would physically visit any Nirsal Microfinance Bank near you , open an account with them and then apply for the loan:
To create account with Nirsal Microfinance Bank you will be needing Current Utility bill , passport , valid id card such as Permanent voters card , NIN , drivers license , international passport and if necessary two thousand Naira to five thousand Naira
WHERE CAN I LOCATE NIRSAL MICROFINANCE BANK AROUND
To locate Nirsal Microfinance Bank is simple , kindly walk into any post office near you , especially central post office , you will see Nirsal Microfinance Bank there