- August 4, 2017
This product is for direct purchase of assets for members of specialized groups, registered associations or trade unions. The objective is to enable member acquire tangible household or business assets that will enhance their living standards or income generating capacity, which could be difficult to acquire on their own. Such asset(s) could include items such as generators, milling machines, sewing machines, iron drilling machines, deep freezers, household electronics, specialized business machines, motorized equipments, etc.
Features
- Interest Rate of 1.5%
- Loan Tenure of 1-3years( Renewable on full repayment)
- Amount accessible up to N20,000,000.
- Insurance premium at prevailing insurance rate for the respective asset.
Benefits
- Enhances living standard
- Trust and approved appliances
- Relaxed equity contribution
Requirements
- Must be in the age bracket 18-60 years.
- Opening of Savings Account
- Must own an existing business
- Any other documents as requested for the processing of the loan
