|Facility Amount:||N100,000 to N10,000,000|
|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|
MaxAdvance is a product that is designed to facilitate personal loans to staff of corporate organizations and public sector employees.
The minimum amount that the bank will avail to a customer is N100, 000.00
The maximum amount for a MaxAdvance facility is N5, 000,000.00
The minimum tenor is 3 months
The maximum tenor is 36 Months
Equal monthly repayment of principal and interest shall not exceed 35% of net monthly salary.
It is available to confirmed staff of approved corporate organizations and civil servants whose salary accounts are domiciled with the bank.
The turnaround time for disbursements of funds is 48 hours from receipt of completed documents.
No. MaxAdvance is a consumer loan that requires no equity contribution.
The documents required from the customer are Application form and Employee Undertaking to domicile salary and terminal benefits.
No, MaxAdvance can be used for any purpose.