Zenith Bank Loan Application | Requirement And Interest Rates
One of the most popular phrases used for attracting customers who wants to apply for loans is ‘Let’s fund your dreams’. This phrase was specifically coined to attract Zenith Bank customers who may want to apply for the Zenith bank loan.
The truth is that, almost all the financial institutions in Nigeria (Banks) offer different types of loans. However, very few customers know that these loans even exists, the few who know about some of these loans do know even know how they can apply and become beneficiaries of this facility.
Zenith bank loan scheme consists of several loans categories, they have the popular personal banking loan, LPO finance, Import and Export finance facility, term loan etc. I will take my time to elaborate on as much loan facilities available at Zenith bank as I can.
Types Of Zenith Bank Loan
Before you begin your loan application with Zenith bank, I suggest you first go through all the available loans, see the ones you are qualified for, ensure you have all the needed application document before you commence. Here are the loan facilities,
- Term Loan – Term Loan is a type of credit (loan) which is either issued as a short term financing, medium term financing or long term financing. It is that financial assistance from the bank that is meant to execute specific capital projects, projects that involves expansion of a business for a specified period. On this customer can repay using the following; (i) bullet, (ii) balloon or (iii) instalmental.
- Lease – Lease is a special kind of loan, here the customer get to use this financing scheme to finance or sale. Also you can use this financing for the acquisition of asset or equipment you need to grow your business. Most times construction businesses make use of this financing system.
- LPO Finance – This is another financing scheme for businesses, here those in business can simply access this loan, so as to finance the supply of materials as requested by a client, it can be used for the execution of specific supply contracts especially to reputable companies.
- Z-Woman Business Package (SME LOANS) – This facility is for female business owners, at least the female should own 50% of the business to be able to access this loan. The tenor is usually between 12 months and 24 months. Applicants can get up to 10 million.
- MSME LOANS – this is similar to the Z-Woman Business Package (SME LOANS), as it supports similar businesses, such as Beauty/Style, Confectionery etc, you are eligible to get up to five hundred thousand naira to two million naira.
Other Notable Zenith Bank Loans;
- SME SUB-KD/SUB-DEALER Finance Scheme
- Retail Loans For Schemes
- Education Loan
- Creative Industry Financing Initiative (CIFI)
- Overdraft
- Timeless Loans
- Receivable Discounting / Invoice Discounting
- Import Finance Facility
- Export Finance Facility
- Bonds & Guarantee
The thing is that Zenith bank loans offers you a structured credit designed to meet all your running costs. You can visit the website and start applying.