Need a loan? Check out the banks with the best loan deals in Nigeria!

Everybody has a money story, these banks gets you started with an easy loan

With the state of the economy and how the prices of products and services has gone up. The demand for loans has gone up too, not everyone can meet up with all emergency expenses as they come.
Here is a list of some of the banks in Nigeria with the best loan deals.

Stanbic IBTC Unsecured Loans

This loan offers flexible payment terms and can be used for a variety of reasons such as household equipment, educational expenses, car maintenance, and house rent. You must have been with your current employer for six months or longer, and your salary must be paid into an account held at the bank to qualify for this loan. This loan is only available for Stanbic IBTC customers (not new customers) and can’t be used for large purchases like buying a car, land or house etc.

Wema Bank – Personal Loans

This loan is available to employees who operate a salary, current or savings account with Wema Bank. It is also available to formally employed individuals and approved employers, as well as groups of salary earners under an association.

Fidelity – Personal Loan

This loan is for individuals in private and public organizations whose salaries are domiciled with the bank. There is no need for documentation, and the salary account must have been active for at least six months to qualify. The interest rates on personal loans can be competitive and may be fixed or variable, depending on the loan terms. The rate you qualify for often depends on factors such as your credit score, income, and loan amount.

Standard Chartered – Personal Loan

This loan does not require a collateral. You can also top up this loan with additional financing during your loan tenure as long as you have made regular repayments. Repayment can be made directly from your account.

GTB Personal Loan (Travel Advance)

This loan is designed to meet the travel needs of the bank’s customers. You are required to provide two individual external guarantors with proper means of identification such as BVN, four passport photographs, identity cards and a Letter of Intent to guarantee the loan.

Zenith Bank Personal loan (Education)

This loan is available to Zenith Bank customers in order to meet obligations such as paying children’s school fees, house rent, and other basic expenses. You can also utilize this loan to fulfil personal desires such as paying for a vacation, travel fees, a honeymoon or other personal needs. The interest rates on Zenith Bank personal loans are generally competitive and may vary depending on the type of loan, loan amount, and borrower’s credit profile. Rates can be either fixed or variable, depending on the loan terms.

FCMB Personal Loan

This loan allows borrowers to use their investments as collateral to access a loan at a competitive interest rate. This loan is available to both salaried and self-employed customers with fixed deposits and other liquid investments. The rates can be fixed, meaning they remain the same throughout the loan tenure, or variable, depending on the terms of the loan. Also the specific amount you can borrow depends on your income, creditworthiness, and the bank’s policies.

Do not forget to borrow only what you need so as to avoid living a life filled with debts.

See you in the next post!!!

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