How To Get Stanbic IBTC Bank Loan

October 15, 2021

How To Get Stanbic IBTC bank Loan . Getting a loan for starting up a business or self-improvement has become quite easy. With a large number of banks, even microfinance establishments doling out money now and then. It’s no wonder small and medium scale businesses are springing up everywhere. With the harsh reality that our economy is currently facing. The knowledge on how to go about acquiring loans can not have come at a more opportune time than now.

So in a few moments, we will be looking How To Get Stanbic IBTC bank Payday Loan And Salary Advance.

Standbic IBTC offers two types of loans, they offer personal loans and Business loans.

How To Get Stanbic IBTC bank Payday Loan And Salary Advance

1. Stanbic IBTC SME Business Loan

This is a small/medium scale enterprise loan that Stanbic IBTC gives to people needing working capital for their businesses. This particular loan is a tailored made lending facility that is made available for businesses. It is aimed at meeting business needs and achieving goals that have been set up for the business.

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Benefits of the Stanbic IBTC SME loans:

Some of the benefits you as a beneficiary of the SME Standbic IBTC loan include but are not limited to:

  • Support
  • Flexible terms
  • Ease
  • Speed

With the Standby IBTC small and medium enterprise loan, you will be getting the Availability of short-term working capital for customers.

Secondly, you will be bridging short-term financial needs and also business growth for customers.

Loan cost of Stanbic IBTC Bank

26% with free insurance for TOD and Advance, 30% with free insurance for short-term loans, and 1% is the management fee.

How To Access The loan

To access the SME loan all you have to do is:

  1. Write a formal letter requesting a loan.
  2. Submit a satisfactory check of credits from two credit bureaus.
  3. Have a banking history of at least a year with other banks or six months with Stanbic IBTC.
  4. Provide documents of a registered business or an enterprise.
  5. Submit our Tax Identification Number.
  6. Submit an accepted offer letter, this is only when your loan application is been approved.

Some other loan under the business category are:

  • Agric business loan:

This is a special finance loan for crops, livestock production, farm equipment purposes e.t.c. it can either be a short or long-term loan, strictly to meet up your agricultural business loan.

  • Distributor finance:

This is designed with the distributor, large manufacturer in mind. If you fall into this category, then this loan is meant to help in maintaining your cash flow.

  • Trade finance:

This helps you in trading your goods and services outside the country. They offer to import and export products to aid you in your business.

2. Personal Loan(Standbic IBTC EZCASH):

This product is made with those in need of quick cash to fix one urgent problem or the other.

Their fund ranges from #20,000 to #4000,000 at a 2.5% interest rate monthly and you are to pay the loan back within a year. With EzCash you can receive the loan you request within minutes of applying.

How To Qualify for EZCash Loan:

To qualify for this loan, you must be at 18 years of age, have satisfactory credit records. Additionally, you must have an account with Stanbic IBTC bank for at least a year.

READ ALSO: How To Get Personal Loan Online In Nigeria

Note: you can borrow as many times as you want, just don’t let the cumulative sum of total amounts not exceed your maximum assigned limit.

Loan charges:

  •  1% Management Fee on the amount borrowed
  • Value Added Tax (VAT) of 0.05% on the amount borrowed
  •  0.35%  of insurance fee on amount borrowed

Standbic IBTC Salary Advance:

With the Standbic IBTC salary Advance feature, you can get through trying times by applying for a revolving loan. A revolving loan has to do with you not reapplying for credit, but you will have access to funds from them.

What it takes to access salary advance:

  • First, your salary account must be with Stanbic IBTC bank
  • Your least salary earning should be #40,000 per month.
  • Third, you must have been working for your employer for at least six months.
  • Fourth, you must be 21 years and older but no more than 60 years.

Note: you will have access to a minimum loan amount of #20,000 to be repaid in one year.

To get a salary advance, visit any Stanbic IBTC branch nationwide. Or you call 014222222 or email them at [email protected]

Conclusion:

In conclusion, whatever your needs and whichever type of loan you need to sort out one bill or the other, Stanbic IBTC got you. As usual, we will be drawing the curtain here today, if you have any questions or addition please do hit us up in the comment section. Thank you and have a good day ahead.

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