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Facilitate Personal Loans to Corporate Organisations. MaxAdvance is designed to facilitate personal loans to staff of select corporate and government organizations whose staff salary accounts reside with the bank.
Features and Terms
- Purpose: To provide finance for the personal needs of staff of corporate organizations which can be used for the purchase of assets or investments as determined by the borrower.
- Facility Amount: minimum - N100, 000.00, maximum - N5, 000,000.00
- Tenor: 3 - 36 months.
- Repayment:
- Domiciliation of staff salary payments from employer.
- Equal monthly installments comprising of both principal and interest.
- Monthly principal plus interest repayment shall not exceed 35% of monthly salary.
- Interest Rate: Competitive Interest rates
- Fees: Competitive Interest rates and fees
- Credit Insurance Premium: 1% (for civil servants only)
- Security/Support:
- Domiciliation of staff's terminal benefits to be applied to liquidate any outstanding exposure in the event that staff disengages from his employment for whatsoever reason
OR - Corporate guarantee from the corporate organization covering each loan amount for the tenor of each loan granted to its staff.
- Additional comfort: Credit insurance from Guaranty Trust Assurance or any other approved insurance company
Download MaxAdvance Account application form
Click here to fill the MaxAdvance Information Request Form 
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