Zenith bank plc is one of the prominent and best banks in Nigeria. With several Awards & Achievements, Zenith Bank remains outstanding in the pursuit of excellence and commitment to high-quality service. Over the years, they have been able to yield results that have enhanced their overall yearly performances.
Their business focuses generally on achieving outstanding customer service. They do this while equally aiming to sustain consistency in superior performance. They however, aim this at participating actively in driving the development of the Nigerian economy to a better place.
Furthermore, the Bank understands the importance of commitment to the promotion of good corporate governance. Therefore, they believe that the inability to leverage this value can endanger public trust. Therefore; in the conduct of its business, they ultimately ensure that the company meets the expectation of all stakeholders.
Zenith bank plc provides an array of loaning services suitable for different categories of persons. This is one of the reasons why their productivity ranking cannot be beaten.
Below are the categories of loan available to all walks of individuals and companies.
This is a single digit loan product available for female-owned businesses for all sectors. However, the purpose of this loan is to enhance Business Expansion. In other words, potential customers get to afford work Capital Requirements, the Purchase of Raw Materials, Raw Materials & Infrastructure upgrade. The sectors this loan is often directed at includes; Beauty/Style, Confectionery, Fitness, Agriculture e.t.c.
This is generally a form of Salary Advance loaning system. It provides revolving credit with a clean-up cycle that avails up to 60% of your net monthly salary. This loan generally offers you a flexible funding solution that will help address your short term financial needs. This product service is subdivided into 3 types;
Knowing that Education is the bedrock of social and economic development, Zenith bank offers an education loan scheme.
They however on that note, design this loan to provide short-term funding to enable parents to pay tuition fees for their children.
Now you can compare interest rates from different lenders with our loan simulator and get the best deal. Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today
This loaning scheme is a joint development between the Central Bank of Nigeria (CBN) and the Bankers’ Committee. This loan generally leans towards making efforts to boost job creation in Nigeria, particularly among the youth.
However, the only eligible businesses under this category are; Fashion, Information, Technology, Movie Production, Movie Distribution, Music, Software Engineering student Loan, etc.
This loan allows a borrower to withdraw a certain amount over the credit balance in his current account. This is, however, permissible within a specified period, usually not exceeding Twelve months.
In addition, this Service Offering is in two major sub-categories; Timeless Pension Advance Plus and Timeless Pension Advance.
This is generally a loan that allows a borrower to acquire a monetary value, usually placed on discount. This relates to the confirmation of invoices for jobs that have previously gone through the process of execution.
LPO Finance is available to borrowing customers who wish to finance a particular supply. This could, however, be a supply of materials or the execution of specific supply contracts to reputable organizations.
This is a type of credit Zenith bank provides specifically for the importation of raw materials, finished goods and equipment. It can be available as in various outlets. They include; Unconfirmed LC, Confirmed LC, Deferred Payment LC, Standby LC and Irrevocable LC.
This is also a credit that Zenith bank offers specifically for the export of agricultural produce or other commodities. This credit can be available either at the pre-shipment or post-shipment stage of the transaction.
Term Loan can be a short term, medium, or long-term credit the bank avails. However, this may be to finance specific capital projects expansion or lines of business for a specified period. The Repayment process here can be bullet, balloon or by installments.
Zenith bank offers Lease specifically to support the acquisition of assets or equipment. They offer this service in two categories; finance or sale and leaseback financing.
These are debt instruments that create reliant exposure for the bank. They however often come in the form of issuance on behalf of customers to support contracts for supply, construction, and performance.
Note that you need to complete KYC due diligence for your loan to be granted.
To select the best lender and consequently loan offer, you have to be able to compare different loan offers. You can do that within minutes using the loanspot Africa platform, helping you make an informed decision in no time.
The maximum or minimum amount for each loaning category varies from one to another. However, from a general overview, the minimum amount you can borrow from Zenith loans is N10, 000 to N100, 000. While the maximum amount ranges between N50 million to N500 million.
The interest ratings equally vary depending on the loaning scheme of your choice. However, the ratings are generally very affordable, suitable and convenient.
While each loaning scheme may require different certification or documentation processes. The minimum requirement for taking up a loan from Zenith bank includes:
Your Personal Information; this is quite inevitable as it is the basic requirement for all contractual transactions. It may include your full name, residential or office address, email address, contact number, etc.
Most importantly, a general criterion for accessing Zenith loans is that you must have an account with the bank. In other words, loan offers are usually for their customers.
Any additional fees?
Zenith Bank often charges a management fee, which is usually at the rate of 0.5 – 1% of the value of the loan you acquire.
This also varies depending on the plan you opt for and your contractual agreement. However, repayment with Zenith bank is always convenient and easy.
Zenith bank isn’t just any bank, it is a remarkable bank. Its core values are its drive; integrity Professionalism, corporate governance, Loyalty, and excellent service. Additionally, your happiness is their joy. Contact them today by visiting any of their branches or call 012787000 or send a mail to zenithdirect@zenithbank.com. You can click here to learn more on how to get a loan from Zenith Bank
