Features & Benefits
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 35% 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.
Requirements
Documentation
- Completed Application Form
- Employer Undertaking Form
FAQs
Frequently asked questions on MaxAdvance
1.Q: What is MaxAdvance?
A: MaxAdvance is a product that is designed to facilitate personal loans to
staff of corporate organizations and public sector employees.
2.Q: What type of facility is MaxAdvance?
A: Time/term loan.
3.Q: What is the minimum facility amount?
A: The minimum amount that the bank will avail to a customer is N100, 000.00
4.Q: What is the maximum facility amount
A: The maximum amount for a MaxAdvance facility is N5, 000,000.00
5.Q: What is the minimum tenor?
A: The minimum tenor is 3 months
6.Q: What is the maximum tenor?
A: The maximum tenor is 36 Months
7.Q: What is the mode of repayment?
A: Equal monthly repayment of principal and interest shall not exceed
35% of net monthly salary.
8.Q: Who is our target audience?
A: It is available to confirmed staff of approved corporate organizations and civil servants whose salary accounts are domiciled with the bank.
9.Q: What is the turnaround time for disbursement?
A: The turnaround time for disbursements of funds is 48 hours from receipt of completed documents.
10.Q: Is the customer required to make any contribution?
A: No. MaxAdvance is a consumer loan that requires no equity contribution.
11.Q: What documents are required under MaxAdvance?
A: The documents required from the customer are Application form and
Employee Undertaking to domicile salary and terminal benefits.
13.Q: Do I need to define the purpose of the facility?
A: No, MaxAdvance can be use for any purpose.