This is a unique loan product designed

mainly for micro customers who have regular source of income from their business and requires financial support.

Features

·        The customer must have a savings account with the bank

·        Loan amount ranges between ₦50,000 – ₦500,000

·        Customer saves weekly

·        Loan amount is determined by the equity contribution done over a given period

·        The customer must have 20% equity contribution in his/her savings account with the upfront charges on the loan facility

·        Loan period: 3 – 6 months

·        Loan repayment could be daily or weekly

 

Benefits

·        Helps in building customers businesses

·        Improves customer’s cash flow

 

Fees

·        Interest rate: 6%

 

Requirements

·        Completed loan application form

·        2 passport photograph

·        A valid means of Identification

·        KYC form duly completed

·        1 guarantor for loan between ₦50,000 and ₦100,000

·        2 guarantors  for loan above ₦100,000

·        6 months statement from the bank or a recommendation letter from XSLNCE  Cooperative ( stating the credit worthiness of the customer based on business relationship)

·        The customer must have a lock up shop and must show evidence of payment for the shop for 1 year.

·        Rent receipt of the customer’s residence and utility bill

·        Visitation report from account officer for both the residence and shop location of the customer

 

Individual Consumer Loans

Xslnce accounts (salaried) allow you to access personal loans for emergency and social needs
 

You can access:

 

 

  • Collateralized / Non-collateralized
    loans as a salary earner
  • Salary Advance / Payday loan
  • Asset Financing / Lease
  • Auto Loan
  • Rent Support Loan
  • Education Loan
  • Festivity Loan

 

General Features:

  • Affordable with no hidden charges
  • Loan processing less than 24hrs
  • Flexible loan repayment period
  • Simple application processes
  • Competitive interest rate