Assets: Microfinance Bank Increases Workers' Access to Credit
Assets Microfinance Bank has introduced a brand-new loan product known as Asset's Salary Plus Loans. Given the current state of the Nigerian economy, its goal is to make it easier and more affordable for wage workers to cover their basic living expenses.
Providing people and companies with accessible, dependable, and easy financial services is the bank's commitment, according to Obinwanne Mordi, the Deputy Managing Director of Assets Microfinance. Additionally, he said that the new loan product is in keeping with this aim as it enables wage workers to access competitively priced loans.
Features of Asset's Salary Plus Loan
1. accessible to those who get a regular income.
The Assets paycheck Plus Loans are accessible to those who get a regular paycheck and possess a favorable credit record. In order to get a loan, applicants must provide their job information, salary documentation, and bank records. Subsequently, the financial institution will evaluate the borrower's creditworthiness and ascertain the specific loan amount and conditions.
2. It has a wide range of applications.
Individuals may use the Assets Salary Plus Loans for a multitude of objectives. These potential uses include covering unforeseen costs, merging outstanding debts, or funding a significant acquisition. The loans provide a versatile payback plan. Individuals who have borrowed money have the option to repay the loan during a timeframe ranging from 12 to 60 months.
The introduction of the Assets Salary Plus Loans is a positive advancement for those who get a salary in Nigeria. It will provide them with access to cost-effective financing alternatives. The loans might assist borrowers in fulfilling their financial requirements and enhancing their standard of living.
How to apply for the Asset's Salary Plus Loans
Borrowers may avail themselves of the Assets Salary Plus Loans by either visiting any Assets MFB office or applying online via the bank's website. The application procedure is simple and direct. Applicants will be notified of the outcome of their loan application within a few days.
Requirements for applying for the Asset's Salary Plus Loans
- Be a salary earner with a regular income.
- Have a good credit history.
- Submit employment details, salary slips, and bank statements.
Benefits of the Asset's Salary Plus Loans
- Flexibility: The loans provide a versatile repayment plan, allowing borrowers to choose a payback duration ranging from 12 to 60 months. This provides borrowers with the ability to effectively handle their monthly loan payments and prevent any financial burden.
- Eligibility: The loans are accessible to those who have a consistent paycheck and possess a favorable credit record. This enables them to be easily obtained by a diverse group of borrowers, including those who may have challenges securing loans from conventional financial institutions.
Diverse range of applications: Borrowers have the flexibility to use the loans for a multitude of objectives, including unforeseen needs, debt consolidation, or funding a significant acquisition. This provides borrowers with the autonomy to use the loan money in a manner that optimally fulfills their requirements.
