How to Get A Loan From Fidelity Bank In Nigeria? Fidelity Bank is one of the best multinational banks and financial services companies in Nigeria with estimated millions of active customers. The bank provides excellent SME Banking, Corporate Banking, Personal Banking, Private Banking, and loan services.
However, from those listed above, I have chosen to share with you what one of their services actually entails, which is loan services. You will learn how to get a loan from Fidelity Bank in Nigeria without or with collateral, Fidelity Bank loan requirements, history, types, loanable amounts, interest rates, and some related questions.
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A brief history of Fidelity Bank Nigeria
Fidelity Bank is a commercial financial institution located in Nigeria, founded on June 19, 1988, as Fidelity Union Merchant Bank Limited. His bank began operations in July of the same year and was initially licensed as a commercial bank by the Central Bank of Nigeria (CBN).
In 1990, the bank obtained a commercial banking license, which allowed it to offer a wider range of banking services to its friendly customers. In 1999, Fidelity Bank became a universal bank after acquiring Fidelity Savings and Loans Limited, and when it came to 2001, it merged with Manny Bank Plc.
Over the years, Fidelity Bank has expanded its operations to cover all 36 states of Nigeria and the Federal Capital Territory and currently has more than 250 branches and more than 7 million customers.
Fidelity Bank has also received several awards and recognitions for its innovative banking products and services, including Best SME Friendly Bank, Best Digital Bank in Nigeria, and Best Bank in Mobile Banking.
Fidelity Bank has also been at the forefront of promoting financial inclusion in Nigeria, with initiatives such as the Fidelity Youth Empowerment Academy and the Fidelity Save4Shelter program, which enables customers to save for their own homes.
In a nutshell, Fidelity Bank has a rich history dating back to 1988 and has grown to become not only one of the leading banks but also one of the leading banks in Nigeria with a focus on innovation, customer service, and financial inclusion.
Fidelity Bank Loan Types and Loan Requirements
Fidelity Financial Institution offers a wide range of loan products. However, some included requirements must be met before you can successfully evaluate the loan.
How to get a loan from fidelity bank in Nigeria? Below are the different types of Fidelity bank loans, the requirements, amounts, and repayment duration for each type of loan.
1. Fidelity Bank personal loan
Fidelity Bank personal loan is the type of loan intended for individual borrowers to meet their personal financial needs; it allows us to quickly meet some financial needs in these areas; education fees, naming ceremony expenses, medical bill settlement, and any other type of financial need.
The loan amount ranges from as little as N10,000 to N10,000,000, and loan repayment must be made within a maximum period of 48 months.
The interest rate of this loan ranges between 15% and 22%, and the repayment term is up to 48 months.
2. Fidelity Payroll-Based Loan
This is a loan intended for employees working in recognized organizations, which can be public or private organizations.
To evaluate this type of loan, you must have a payroll account with Fidelity Bank.
The loan amount ranges from N10,000 to N1,000,000, and the repayment period is up to 24 months.
Fidelity Payroll-Based Loan: The interest rate on this loan is 9% and the repayment period is up to 24 months.
3. Fast loyalty loans
As its name suggests, it is a type of loan that can be easily evaluated by anyone, this loan product is intended to meet the urgent needs of people.
However, unlike other types of loans, the maximum amount you can borrow is N200,000, which is very low compared to the other types of loans.
In addition, the amount of money borrowed must be repaid within a maximum period of 4 months.
Fidelity FastLoans: the interest rate of this loan is 2.95% per month and the repayment term is up to 4 months.
Fidelity Bank Loan Requirements
How to get a loan from fidelity bank in Nigeria? The general loan requirements for the loan types mentioned above are as follows:
- Must be at least 18 years old
- You must have a Fidelity Bank account.
- You must have a verifiable source of income.
- You must have a good credit history.
- You must provide a valid form of identification, such as a national identity card, driver’s license, or international passport.
- You must provide proof of income, such as payslips, bank statements or tax returns, etc.
How to Get a Loan from Fidelity Bank With Or Without Collateral In 2023
How to get a loan from fidelity bank in Nigeria? To get a loan from fidelity bank follow these steps.
After you must have decided on the type of loan you want,
- Gather all the required documents (things mentioned in the Fidelity bank loan requirements)
- Visit any Fidelity bank near you.
- Get a loan form from the bank officer and fill in all the required details.
- Accept the terms and conditions of the loan and submit
- Wait for it to be reviewed and approved
- Wait for the bank to review and approve your loan application. This process can take a few days or weeks, depending on the type of loan and the amount.
- Once your loan application is approved, the bank will disburse the loan amount to your designated account.
FAQ – How To Get A Loan From Fidelity Bank In Nigeria with or without Collateral
Here are some frequently asked questions related to how to get a loan from Fidelity Bank in Nigeria today:
What are the requirements to open an account at Fidelity Bank?
If you’re about to open a Fidelity bank account, you’ll need to provide a valid identification document, such as a national ID, driver’s license, or international passport, as well as proof of address, such as a utility bill.
In addition, you may be required to provide other documentation, depending on the account type and customer category.
How can I access Fidelity Bank’s digital banking services?
Fidelity Bank offers various digital banking channels, such as mobile banking, internet banking, USSD banking, and social media banking, to allow customers to access banking services conveniently from their mobile devices.
To access these services, you will need to register for the service and download the bank’s mobile app or visit the Fidelity Bank website.
How do I contact Fidelity Bank customer service?
You can contact Fidelity Bank customer service by phone, email, website or social media channels.
You can contact Fidelity Bank in the following ways:
- Website: www.fidelitybank.ng
- Address: 2, Kofo Abayomi Street, Victoria Island, Lagos, Nigeria
- Telephone number: 0700 343 35489
Conclusion
Fidelity Bank has a reputation for providing instant and convenient loans to suit your needs. Their service covers a variety of lending needs. In case you need to borrow a loan, you can try them.