Photocopy of a Valid Identity Card, National ID, Driver’s License or International Passport of parents (Original Must be Sighted).
Birth Certificate of child or children
Evidence of utility bill (or letter from the village council to confirm customer’s residence)
OKPOGA AGRIBUSINESS LOAN
Features
We offer structured agricultural loans taking into consideration, the seasonal peculiarities of agric business.
This will be done in partnership with the CBN Credit Agricultural Guarantee Scheme
Borrower must enrol with the Nigerian Agricultural Insurance Scheme.
For full repayment of the loan within the loan tenor the customer is entitled to 50% of interest paid to the bank.
MY PIKIN LOAN
Features
Loans from N50, 000.00 up to N300, 000
Maximum tenure of 10 months
Equity contribution of 10%
Equity contribution of 20% for express loans
Management fee applies
Attractive interest rates for express and regular loans
Requirement
Duly Completed Personal Guarantee Form
Handwritten application
Passport Photograph of the Guarantor
Post-dated cheque Covering Principal and Interest from Borrower and Guarantor required
A Copy of the Guarantor’s Form of Acceptable Identification.
Duly filled application Form
Must be a Customer of the Bank
Evidence of Existing Busines
Must run account for 6 weeks
Target Market
Retailers and micro-traders.
BETTER LIFE LOAN
Features
Designed for economically active poor women in our communities
Loan from N10, 000 to N50, 000
Management fee applicable
Attractive interest rate
3 to 6 months weekly repayment
Requirement
In the case of a widow evidence of demise of the spouse
Letter of introduction from village head or community leader / programme of death ceremony.
Duly Filled Loan Application Form
Duly Completed Personal Guarantee Form
Letter of Guarantee from Guarantor
Duly Completed Guarantee form for the guarantor
Passport Photograph of the Guarantor
A Copy of the Guarantors Acceptable Identification.
Must be a Customer of the Bank
Evidence of Existing Business
Must run account for 6 weeks
Target Market
Traders, Individual with Cash Flow (e.g. Salary Workers, Youth Corpers) and Companies
Documentation
Duly Filled Account Opening Form
Duly Filled KYC Form
2 Recent Passport Photographs of the parents
Photocopy of a Valid Identity Card, National ID, Driver’s License or International Passport of parents (Original Must be Sighted).
Birth Certificate of child or children
Evidence of utility bill (or letter from the village council to confirm customer’s residence)
PERSONAL LOAN
SALARY EARNERS
Features
Loans from N50,000.00 to N1,000,000.00
Management fee applicable
Attractive interest rate
Back to School Educational Empowerment
Features
Loans from N50,000.00 to N1,000,000.00 for the payment of school fees
Loans only for civil servants and loan amount to be determined by their salaries
Repayment Mode: Termly repayment (3 months)
Management fee applicable
Attractive interest rate
Money to be paid directly to the school
Requirement
Duly Filled Loan Application Form
Handwritten application form
Duly Completed Personal Guarantee Form
Duly Completed Guarantee form for the guarantor
Passport Photograph of the Guarantor
Post-dated cheque covering principal and interest from guarantor
A Copy of the Guarantors Acceptable Identification.
Evidence of Cash flow or source of repayment
Must be a Customer of the Bank
Must run account for 6 weeks i.e. for business people
Salary or contract payment domiciliation with the bank
Target Market
Traders, Individual with Cash Flow (e.g. Salary Workers, Youth Corpers) and Companies
INVESTMENT LOAN
OVERDRAFT
Requirement
Customer must have operated a current account for a minimum of 2 months
For express overdraft from 7% (on a reducing balance)
The account must have an acceptable amount of turnover on transactions
Customer must present a minimum of 2 reputable guarantors
Acceptable guarantors required
For overdraft interest and the admin charge applicable
Acceptable amount of turnover on transactions mandatory
Customer might be expected to present collateral, which may vary from company shares, landed property etc. This is dependent on the overdraft amount and terms of repayment
For Salary workers a maximum of 30% of their Monthly Salary; subject to management discretion
