List of MFBs that give loans to salary earners in Nigeria

Microfinance banks (MFB) thrive on providing services to the “unbankable”. Therefore, they provide services to those that can’t access regular commercial bank services. Essentially, they cater to all the immediate and potential needs that one may have. Microfinance banks are mainly patronized by low-income earners, especially those without high-value asset which are needed to obtain loans from commercial banks. One of the major services provided by these banks is to salary earners. There are MFB that give loans to salary earners, allowing them to pay back some time later. 

This article is basically a rundown of the list of microfinance banks that provide loans to salary earners or salary advance. Therefore, if you’re looking to get one, simply select your preferred option from the list below. 

MFB that gives loans to salary earners

The list of some of the most popular microfinance banks that give loans to salary earners are:

1. Lapo microfinance bank
2. Purple money microfinance bank
3. CIT microfinance bank
4. AB Microfinance bank
5. Grooming microfinance bank
6. Addosser Microfinance bank
7. Asset Microfinance bank
8. Bowen Microfinance Bank
9. Capstone Microfinance Bank
10. Cardinal Rock Microfinance Bank
11. Cashconnect Microfinance Bank Ltd
12. Cedar Microfinance Bank
13. Chanelle Microfinance Bank
14. CIT Microfinance Bank
15. Corestep Microfinance Bank
16. Cowries Microfinance Bank
17. Credit Afrique Microfinance Bank
18. Credit Express Microfinance Bank
19. Crossover Microfinance Bank
20. Daylight Microfinance Bank
21. Desmonarchy Microfinance Bank limited
22. Echo Microfinance Bank
23. Edo Microfinance Bank
24. Empire trust Microfinance Bank
25. Enrich Microfinance Bank limited
26. FFS Microfinance Bank
27. Finatrust Microfinance Bank
28. Finex Microfinance Bank
29. First Option Microfinance Bank
30. Flourish Microfinance Bank
31. Fortress Microfinance Bank
32. Giant strides Microfinance Bank
33. Global Initiative Microfinance Bank
34. Glory Microfinance Bank
35. Green energy Microfinance Bank
36. Hackman Microfinance Bank
37. Headway Microfinance Bank
38. High street Microfinance Bank
39. GTI Microfinance Bank
40. IBILE Microfinance Bank
41. Ipodo-Ikeja Microfinance Bank
42. Island Microfinance Bank
43. Jessefield Microfinance Bank
44. Kayvee Microfinance Bank
45. Kudimoney Microfinance Bank
46. Lawebod Microfinance Bank
47. Leadcity Microfinance Bank limited
48. Letshego Microfinance Bank
49. Lifegate Microfinance Bank
50. Links Microfinance Bank
51. Magnet Microfinance Bank
52. Main trust Microfinance Bank
53. Mainstreet Microfinance Bank
54. Manny Microfinance Bank limited
55. Lovonus Microfinance Bank
56. Maritime Microfinance Bank
57. Sunrise Microfinance Bank
58. Supreme Microfinance Bank
59. Surbpolitan Microfinance Bank
60. Susu Microfinance Bank
61. Touchgold Microfinance Bank
62. Townserve Microfinance Bank
63. Treasures Microfinance Bank
64. TCF Microfinance Bank
65. Ultimate Microfinance Bank
66. VCL Microfinance Bank
67. Verdant Microfinance Bank
68. Verite Microfinance Bank
69. VFD Microfinance Bank
70. Wesley Microfinance Bank
71. Vineland Microfinance Bank
72. Virtue Microfinance Bank
73. XSLNCE
74. YCT Microfinance Bank
75. Zikado Microfinance Bank
76. NPF Microfinance Bank
77. Okengwe Microfinance Bank
78. Oros Capital Microfinance Bank
79. Owotutu Microfinance Bank
80. Parallex Microfinance Bank
81. Parkway Microfinance Bank
82. Pecan Trust Microfinance Bank
83. Penny wise Microfinance Bank
84. Personal trust Microfinance Bank
85. Petra Microfinance Bank
86. Projects Microfinance Bank
87. Providence Microfinance Bank
88. Primera Microfinance Bank
89. Purple money Microfinance Bank
90. Rhehoboth Microfinance Bank
91. Renmoney Microfinance Bank
92. Ric Microfinance Bank
93. Richway Microfinance Bank
94. Pyramid Microfinance Bank
95. Qube Microfinance Bank
96. Reliance Microfinance Bank
97. Rigo Microfinance Bank
98. Royal blue Microfinance Bank
99. Royal Exchange Microfinance Bank
100. Safe Gate Microfinance Bank
101. Seed Capital Microfinance Bank
102. Shalom Microfinance Bank
103. Shepherd Trust Microfinance Bank
104. Snow Microfinance Bank
105. Solid Allianze Microfinance Bank
106. Solid trust Microfinance Bank

Are there MFBs that does not offer salary loan services?

Actually, most, if not all microfinance banks, offers loans to salary earners. It is a basic service offered by financial institutions, including commercial and microfinance banks. 

What are the eligibility requirements for applying for a salary earners MFB loan?

The major eligibility requirement while applying for this loan is that your salary account is domiciled with the bank. Therefore, when your salary is paid at month’s end, they can easily deduct your loan repayment. Also, your salary needs to be up to a particular amount for you to access certain amount of loan. In all, they would present you with the available options during application.  

Conclusion

If you are a salary earner looking for a loan advance, you can easily walk into any legitimate microfinance bank. More so, these banks offer loan services at competitive interest rates which varies from one bank to another.