Almost all commercial banks offer loans and Zenith Bank is also a commercial bank. Taking a loan from them is quite feasible, and if you don’t know the way out. Here’s a short guide you can follow. There are different ways to take loans online, you can apply for a loan from Microfinance Bank. Digital Banking Apps also give loans, and lastly, there are various loan apps one could take loans from. But if your preferred choice is Zenith Bank, then let’s get right on with this article.
How to Borrow Money From Zenith Bank
To borrow money from Zenith Bank in Nigeria, first, you need to know the type of loan you want to take since there’s more than one. Zenith Bank offers salary advance loans, student loans and so on. But to get the actual loan to apply for, you should check the loans you’re eligible for first.
Zenith Bank Loan Requirements
A salary or corporate account with Zenith Bank BVN Good credit score You must have received steady credit income in your Zenith account.
Zenith Bank Loan Types and Requirements
Here’s an overview of some of the popular loans you can apply for as a Zenith Bank customer. Although there are over 15 different loan types, these are the common ones. You can also read their requirements as well.
Educational Loan
This type of loan is meant for parents or guardians who need quick cash to pay for their child or ward’s tuition fees. A minimum of 100,000 and a maximum of 5,000,000 could be granted for Educational Loan.
Minimum Facility amount N100,000 Maximum Facility amount N5,000,000 School fees will be paid directly to the child/ward’s school. Maximum tenor of 3 months (Junior School) , Maximum tenor of 9 months (Tertiary Institution)
Requirements
Completed Application Form Parent/guardian must have a salary account domiciled with the bank. The child/ward must have an account with the bank. Invoice of school /tuition fees
Retail Loans for Schemes
Step 1: On your web browser, copy and paste this link (https://realtime.zenithbank.com/retailloan) into a tab. This link will take you to the loan application page on Zenith Bank’s website. Step 2: Once the page has loaded, you’ll see a category of loan requests. Select the type of loan you want to apply for, then enter your BVN to confirm your details. Step 3: After entering BVN and making sure you’re confirmed, on the next page, you’ll need to fill in the details of your next of kin. Click on the submit button to proceed to the next step. Step 4: Now you’re one step closer in your quest to borrow money from Zenith Bank. In this step, you’ll need to enter your financial information and submit it to see the eligible loan offer for you. Select the amount you want and submit, if you’re approved, the loan will be disbursed into your Zenith Bank Account.
Conclusion
Taking a loan from Zenith Bank is that easy and with the steps we’ve provided in this article. You’re good to go as a Zenith Bank customer who needs a loan. It is always a good option to repay loans on time, if you do, your chances of getting higher loans next time might not be limited.
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