If you are There looking for where to take loans from with low interest then Zenith Bank got you covered. Zenith Bank offer a wide assortment of loan types to cater to every business contingency.
To that end let us see types of loans offered by Zenith Bank Nigeria and how to qualify for them.
- CREATIVE INDUSTRY FINANCING INITIATIVE (CIFI)
The Central Bank of Nigeria (CBN) in collaboration with the Bankers' Committee as part of efforts to boost job creation in Nigeria, particularly among the youth, has developed a Creative Industry Financing Initiative (CIFI) fund.
Eligible activities/businesses- Fashion
- Information Technology
- Movie Production
- Movie Distribution
- Music
- Software Engineering student Loan
Facility Amount: dependent on project requirement
Tenor: Up to 10 years
Pricing: 9% p.a.
Information TechnologyFacility Amount: Dependent on project requirement
Tenor: Up to 10 years
Pricing: 9% p.a.
Movie ProductionFacility Amount: Up to N30million
Tenor: Up to 10 years
Pricing: 9% p.a.
Movie DistributionFacility Amount: Up to N500 million
Tenor: Up to 10 years
Pricing: 9% p.a.
MusicFacility Amount: Dependent on project requirement
Tenor: Up to 10 years
Pricing: 9% p.a.
Software Engineering StudentsFacility Amount: Up to N3million
Tenor: Up to 3 years
Pricing: 9% p.a.
Documents Required for DisbursementAccepted Offer Letter
2. Business Plan
Board Resolution (if corporate)
3. OVERDRAFT
Overdraft is a type of loan which allows the borrower/obligor to draw a certain amount in excess of the credit balance in their current account within a specified tenor usually not exceeding Twelve months.
4. RECEIVABLE DISCOUNTING / INVOICE DISCOUNTINGReceivable Discounting/Invoice Discounting is a loan that allows the borrower/obligor to obtain monetary value (usually discounted) against confirmed invoices for jobs already executed.
5. LPO FINANCELPO Finance is a loan made available to borrowing customers to finance the supply of materials or execution of specific supply contracts to reputable organizations
6. IMPORT FINANCE FACILITYImport Finance Facility is a type of credit availed specifically for the importation of raw materials, finished goods and equipment. This can be made available as Unconfirmed LC, Confirmed LC, Deferred Payment LC, Standby LC and Irrevocable LC.
7. EXPORT FINANCE FACILITYExport Finance Facility is a credit availed specifically for the export of agricultural produce or other commodities. This credit can either be availed at the pre-shipment or post-shipment stage of the transaction. 8. TERM LOAN
Term Loan is a credit (short term, medium or long term) availed to finance specific capital projects expansion or lines of business for a specified tenor. Repayment can be bullet, balloon or instalmental. 9. LEASE
Lease is specifically finance or sale and lease back financing to support the acquisition of asset or equipment.
10. BONDS & GUARANTEEBonds and Guarantee: These create contingent exposure for the bank. They take the form of instruments issued on behalf of customers to support contracts for supply, construction and performance.
11. RETAIL LOANS FOR SCHEMESSalary Advance - a revolving credit with a clean-up cycle availing up to 60% of your net monthly salary. This is a flexible funding solution that will help address short term financial needs. Personal/Consumer loans to finance personal needs.
Asset acquisition/Car Loans to finance purchase of vehicles or acquisition of household assets. Mortgage Facility – This is designed to fulfil your aspiration to purchase your dream house with ease.
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