LOAN TERMS:
Lender
LOAN TERMS:
Union Bank of Nigeria
Eligibility
LOAN TERMS:
Agency Banking Agents with net turnover of at least N3,000 and overall credit turnover of N10,000. The age limit of the applicant must be between 21 and 60.
Loan Limit
LOAN TERMS:
Maximum Limit: N250,000 (two hundred and fifty thousand naira)
Interest Rate
LOAN TERMS:
Maximum Interest Rate: 12 – 38% p.a (system advised).
Insurance: 0.7%
Management Fee: 1%
Max Tenor
LOAN TERMS:
The repayment period is a maximum of: up to 6 months (clean up cycle – every 7days)
Security Required
LOAN TERMS:
Inflow domiciliation.
Insurance.
Personal Guarantor
Documents Required
LOAN TERMS:
Undated cheques
Duly filled Application form and Offer letter.
Account statement.
Document in Transit.
Retail loan Checklist.
Personal Guarantor’s Form
Statement of Networth
Approval Time
LOAN TERMS:
About two to seven working days from the time you submit all the required documentation
