Interest Rate (5% – 23%)




Hasal Microfinance Bank

Hasal Microfinance Bank is a CBN licensed institution offering loans for multiple purposes in Abuja, Nigeria.



  • Micro loans – This is for entrepreneurs, traders and students to access up to N1m for existing businesses. The interest rate charged by Hasal is a minimum of  7% with the total dependent on the tenor of the loan. The loan tenor is up to 12 months. Microfinance lending is the provision of financial services for people who don’t have access to traditional financial services such as banks. The loans are aimed at individuals who were previously considered “unbankable” by larger banking institutions. These are borrowers who are possibly dealing in small amounts of money each day, living in hard-to-access areas, without credit histories or who don’t meet “traditional requirements” within the banking sector.
  • Group Loan – The group loan is a form of rotating credit (Esusu/Ajo). A rotating credit scheme is where a group of individuals fill the role of an informal financial institution through repeated contributions and withdrawals to and from a common fund
  • SME loan – Hasal offers loan products tailored to meet the business needs of Small & Medium Enterprises (SME). SME finance is a financing solution accessible for specific business medium term projects.


  • Convenient repayment plan
  • Flexible loan conditions


  • Geographic restrictions to Abuja
  • 10% of loan amount is required in savings account
  • Guarantor required
  • Low Maximum loan amount


  • Duly completed Loan application form
  • Duly completed personal guarantee form
  • Board resolution for the Loan (for companies)
  • Duly completed KYC (Know Your Customer) form


Collateral requirement:

  •  Loan request from N30,000 – N75,000(no collateral)
  • Loan request from N75,000 – N350,000 (only1 guarantor)
  • Loan request from N400,000 – N1,000,000 (2 guarantors)


Collateral requirement –

Based on loan amount, tangible asset within any the categories below is acceptable:

    a) Landed property with good titles
    b) Lien on cash (Fixed Deposit)
    c) All asset debenture (Fixed & Floating)