Are you a salary earner looking for loans for salary earners in Nigeria? If yes, then this article is for you. Microfinance institutions (MFB) thrive by providing services to those who are “unbankable”. Thus, they offer services to people who are unable to access traditional commercial banking services. They cater to any immediate or potential requirements one could need.
These banks are usually favored by people with low incomes, particularly those who do not have assets of high value that are required to get commercial bank loans. One of the main offers through these institutions is for those who earn a salary. There are MFB that provide loans for salary earners in Nigeria which allow them to pay back in a certain time.
This article basically is an overview of microfinance lenders that offer loans for salary earners in Nigeria. If you’re trying to obtain one, you can choose your preferred one from the options below.
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MFB That Provides Loans for Salary Earners in Nigeria
The following lists are the most well-known microfinance lenders that provide loans for salary earners in Nigeria:
- Kudimoney Microfinance Bank
- CIT microfinance bank
- AB Microfinance bank
- Renmoney Microfinance Bank
- Lapo microfinance bank
- Grooming microfinance institution
- Addosser Microfinance bank
- Asset Microfinance Bank
- Bowen Microfinance Bank
- Capstone Microfinance Bank
- Cashconnect Microfinance Bank Ltd
- Cedar Microfinance Bank
- Chanelle Microfinance Bank
- CIT Microfinance Bank
- Cowries Microfinance Bank
- Credit Afrique Microfinance Bank
- Credit Express Microfinance Bank
- Daylight Microfinance Bank
- Empire Trust Microfinance Bank
- Enrich Microfinance Bank limited
- FFS Microfinance Bank
- Finatrust Microfinance Bank
- Finex Microfinance Bank
- Massive strides Microfinance Bank
- Global Initiative Microfinance Bank
- Glory Microfinance Bank
- High Street Microfinance Bank
- GTI Microfinance Bank
- IBILE Microfinance Bank
- Ipodo-Ikeja Microfinance Bank
- Island Microfinance Bank
- Jessefield Microfinance Bank
- Kayvee Microfinance Bank
- Lawebod Microfinance Bank
- Leadcity Microfinance Bank limited
- Letshego Microfinance Bank
- Lifegate Microfinance Bank
- Links Microfinance Bank
- Magnet Microfinance Bank
- Manny Microfinance Bank limited
- Maritime Microfinance Bank
- Supreme Microfinance Bank
- Surbpolitan Microfinance Bank
- Susu Microfinance Bank
- Treasures Microfinance Bank
- TCF Microfinance Bank
- Ultimate Microfinance Bank
- VCL Microfinance Bank
- Verdant Microfinance Bank
- Verite Microfinance Bank
- VFD Microfinance Bank
- Oros Capital Microfinance Bank
- Owotutu Microfinance Bank
- Parallex Microfinance Bank
- Parkway Microfinance Bank
- Pecan Trust Microfinance Trust
- Penny clever Microfinance Bank
- Private trust Microfinance Bank
- Petra Microfinance Bank
- Projects Microfinance Bank
- Providence Microfinance Bank
- Primera Microfinance Bank
- Rhehoboth Microfinance Bank
- Ric Microfinance Bank
- Richway Microfinance Bank
- Pyramid Microfinance Bank
- Qube Microfinance Bank
- Reliance Microfinance Bank
- Rigo Microfinance Bank
- Royal blue Microfinance Bank
- Royal Exchange Microfinance Bank
- Shepherd Trust Microfinance Bank
- Snow Microfinance Bank
FAQ About loans for salary earners in Nigeria
Are there MFBs that do not offer loans for salary earners?
In actual fact, many microfinance banks offer loans to salary workers. It is a fundamental offer by banks and banks, including microfinance and business banks.
What are the criteria for eligibility to be able to get an income-based MFB loan?
The main eligibility requirement when getting this loan would be that the bank account is a part of the bank. Thus, when your payment is paid at the end of each month it is possible to subtract the loan repayment. Additionally, your income has to be in excess of an amount that is specified for you to get access to a specific sum of money. All in all, they will provide you with all the options when you apply.
What is the best way to get loans for salary earners?
The basic requirements to get loans for salary earners in Nigeria are:
- Personal information: This includes your full name as well as your email address, phone number, job, etc.
- A valid method for identification. …
- You must have a banking account with a commercial institution in Nigeria.
- A proven source of income for a specific time.
What is the rate of interest of Lapo?
LAPO Microfinance has a flexible interest rate. The interest rate for the month is in the range of 0.75% and 6%.
Conclusion
If you’re a wage-earning individual looking to get advance loans for salary earners in Nigeria. It is easy to go to any legitimate microfinance institution. Additionally, the banks provide loans at attractive rates of interest that differ between banks.