MaxAdvance is designed to facilitate personal loans to staff of select corporate and government organizations whose staff salary accounts reside with us.

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Features

 Facility Amount:  N100,000. 00 to N5,000,000.00
 Tenor:  3 – 36 Months
 Repayment:  Equal monthly repayment comprising principal & Interest.
Monthly repayment shall not exceed 33.3% of net monthly
 Support/Comfort: Salary Domiciliation,
Credit Insurance,
Domiciliation of staff terminal benefit or,
Corporate Guarantee

 

Benefits

An all purpose loan for you to meet your financial needs with a convenient repayment plan.

Documentation

  • Completed Application Form
  • Employer Undertaking Form

Frequently asked questions on MaxAdvance

What is MaxAdvance?

MaxAdvance is a product that is designed to facilitate personal loans to
staff of corporate organizations and public sector employees.

What type of facility is MaxAdvance?

Time/term loan.

What is the minimum facility amount?

The minimum amount that the bank will avail to a customer is N100, 000.00

What is the maximum facility amount?

The maximum amount for a MaxAdvance facility is N5, 000,000.00

What is the minimum tenor?

The minimum tenor is 3 months

What is the maximum tenor?

The maximum tenor is 36 Months

What is the mode of repayment?

Equal monthly repayment of principal and interest shall not exceed
35% of net monthly salary.

Who is our target audience?

It is available to confirmed staff of approved corporate organizations and civil servants whose salary accounts are domiciled with the bank.

What is the turnaround time for disbursement?

The turnaround time for disbursements of funds is 48 hours from receipt of completed documents.

Is the customer required to make any contribution?

No. MaxAdvance is a consumer loan that requires no equity contribution.

What documents are required under MaxAdvance?

The documents required from the customer are Application form and Employee Undertaking to domicile salary and terminal benefits.

Do I need to define the purpose of the facility?

No, MaxAdvance can be used for any purpose.