ALAT is a digital bank that can be run by an internet connected device. The bank provides loans, savings and cash transactions and is a product by WEMA bank.
- You can apply for quick loans up to ₦200,000.
- Fast loan approval process.
- No bank branch, no collateral and no paperwork.
- A physical bank account is required before operating their account.
- You need a standard savings ALAT account.
Requirements for loan
- You can only request for a loan when you have a standard savings ALAT account.
- Your account needs to be upgraded before you can be eligible to make a request.
- You need to make both frequent credit and debit transactions with the account before the loan can be guaranteed.
Requirement for account opening:
- Mobile Phone (iOS / Android devices) or Laptop.
- Your bank verification number (BVN)
- A picture of your face and signature (signed on a white piece of paper)
- Functional email address and reachable line.
- Government approved ID card (standard account) e.g. international passport, driver’s license, national ID card or voter’s card.