{"id":4561,"date":"2021-11-01T13:02:39","date_gmt":"2021-11-01T13:02:39","guid":{"rendered":"https:\/\/unilagmfbank.trealms.com\/?page_id=4561"},"modified":"2021-11-01T13:20:12","modified_gmt":"2021-11-01T13:20:12","slug":"faq","status":"publish","type":"page","link":"https:\/\/unilagmfbank.com\/faq\/","title":{"rendered":"FAQ"},"content":{"rendered":"\t\t
Gainfully employed individuals or Business\u00a0Owners between ages 18-60<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
Nigerian<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
You must have a verifiable source of income.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
You must have been in the business\/employment for a minimum period of six (6) months at the same location\/organisation.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
The loan application takes less than 48 hours depending on the type of loan.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
You can assess between #100,000 to #10,000,000 subject to assessment.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
Repayment period is between 1-24 months.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
You can repay by making a transfer from any of your commercial Bank account to your UNILAG MFB account.<\/p>
You can also make direct cash deposits at our Bank or Standing Order processed via Remita.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
We encourage you to cultivate a savings habit, However, you do not have to save to qualify for a loan.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
Yes, Salary earners with verifiable salaries are also eligible for a loan.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
Interest\u00a0rate varies between 3-5% depending on loan product and risk type.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
Yes, you can pay it off.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
Education Loan (for University of Lagos programs), Business Loan (SME)<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
Deposits can be made through available channels:<\/p>