How To Apply For CBN Non-Interest Loan

Last Updated on Dec 11th, 2023

The Central Bank of Nigeria (CBN) in partnership with NIRSAL Micro Finance Bank has approved and opened a non-interest facility loan. Basically, this loan is available for households, AGSMEIS, and SMEs. So if you are interested, and fall into any of these categories, the information below will guide you on how to apply for a CBN Non-interest loan.

How To Apply For CBN Non-Interest Loan
How To Apply For CBN Non-Interest Loan


TCF, short for Non-Interest Targeted Credit Facility, is a stimulus package to assist Nigerian households and businesses (Micro, Small, and Medium enterprises) that were negatively affected by the COVID-19 pandemic. Basically, this relief fund is a non-interest package that aims to finance the major assets of businesses till they stand firm. Also, as for households that still struggle to survive, this loan will help them out.

The financing limit for TCF is N2,500,000.00 with a 3 years tenure and a 6 months moratorium. The moratorium is the grace period the bank grants to the customer that allows them to postpone payments.


AGSMEIS-NI, short for Non-Interest Agri-Business, Small and Medium Enterprise Investment Scheme, is a funding scheme by the federal government. The federal government does this funding through CBN and it focuses on promoting agricultural businesses in Nigeria. This will help to boost economic development and generate jobs for the unemployed.

An alternative to AGSMEIS is its non-interest product. Basically, this product is based on the financial transactions principle of Islam and offers features like Murabaha and Ijarah. This product was specially designed to grow the business and finance raw materials, equipment, as well as working capital.

AGSMEIS-N has a financing limit of N10,000,000.00 with a 7 years tenor (depending on the nature of the project). As an applicant, you may enjoy an added period of 6 months as a moratorium.

Interesting Read: AGSMEIS Loan – How To Apply For It In Three Steps

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How To Apply For CBN Non-Interest Loan

If you want to apply for a CBN Non-interest loan for households and SMEs, here’s what to do:

1. First, start by going to the NIRSAL microfinance website

2. Next, tap on “Apply for Non-Interest Facility”. When you tap that, it will provide you with two options. These options are “NON-INTEREST TCF” and “NON_INTEREST AGSMEIS“. Click on the “NON-INTEREST TCF” tab.

3. Once you tab the NON-INTEREST TCF tab, you will see two options: Household facility and SME facility. Pick the option that is most appropriate for you. Thereafter, you can start the registration properly.

4. You will be asked if you are just a new applicant or returning to your previous application. If you are applying for the first time, select “New Applicant”.

5. Next, move ahead to input your BVN. This will automatically produce some of your details. Fill in the empty fields required with your other details.

If your application is successful, you should receive a congratulatory message for applying successfully. If you have a business that you have registered with CAC, you can opt for the SME facility. You just need your business’ TIN number and other information related to the CAC registration.

Bottom Line

CBN Non-interest loan is a stimulus package the federal government of Nigeria provides for households, businesses, and agricultural organisations. Basically, these funds aim to cater to households and businesses that were affected by the pandemic. To learn how to apply for a CBN Non-interest loan, just follow the steps above.

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