MaxAdvance offers personal loans to staff of select corporate and government organizations whose staff salary accounts reside with us.
Click here for the Loan Calculator| Definition of terms | |
|---|---|
| Loan Amount: | N100k - N10million |
| Tenor: | 3 - 60 months |
| Repayment: | Equal monthly repayment of interest and monthly/flexible principal repayment. Monthly repayment shall not exceed 33.3% of net monthly salary |
| Support: | Salary and terminal benefit domiciliation, credit insurance |
MaxAdvance is a product that is designed to facilitate personal loans to staff of corporate organizations and public sector employees.
Time/term loan.
The minimum amount that the bank will avail to a customer is N100, 000.00
The maximum amount for a MaxAdvance facility is N10,000,000
The minimum tenor is 3 months
The maximum tenor is 48 Months
Equal monthly repayment of principal and interest shall not exceed 33.3% of net monthly salary.
Salary earners whose salary are domiciled in 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.