titan trust

Titan Trust

Interest Rate  (14% – 22%)

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Description

Titan Trust

Titan Trust bank is a national commercial bank licensed by the Central bank of Nigeria in 2018.

Products

  • Salary Advance – The Titan Trust Bank salary advance gives you access to up to 50% of your net monthly salary for a maximum period of 3 months. It provides employees with quick funds. No documentation or collateral required
  • Mortgages – Their mortgage product is designed to provide financial support for the acquisition ready properties and properties under construction. It is available to salary earners and business entrepreneurs with properties in Lagos, Abuja, and Port Harcourt. There is a Minimum of 30% equity contribution for up to 10 years tenor.
  • Vehicle – This loan product allows customers to acquire new vehicles in a financially convenient manner. It is open to salaried income persons, SMEs and Corporates with an equity contribution as low as 20% of invoice value. The tenor is up to 48 months.
  • Education – Their school fees loan is designed to provide parents/guardians with short–term financing to cover tuition fees for their children/wards, as well for financing of undergraduate study, postgraduate study and professional examinations.

Requirements

Salary Advance

  • Domiciliation of salary account with Titan Trust Bank.
  • Minimum Obligor limit of N100,000
  • 25% of employee’s net annual salary with a repayment period not exceeding 12 months.
  • Max. obligor limit of 50% of annual income (where the terminal benefit is not in place) and tenor not exceeding 24 months.
  • Max. obligor limit of 75% of annual income (where the confirmed terminal benefit is above 100% of the loan amount) and tenor not exceeding 36 months.
  • Debt-to-income subject to 33.3%.

Vehicle

  • Applicants should not be more than 60 years at the point of full liquidation, Maximum application age for Professors 65 years, Judges 70 years.
  • Completed Vehicle Lease Application Form
  • Pro forma invoice from any of the Bank’s approved vendors
  • Credit Checks
  • Blank transfer of ownership Form

Mortgage

  • Completed Mortgage Application Form
  • Employee Status Inquiry/Employer’s Confirmation Form
  • Letter of offer from the property seller
  • Title document of the property
  • Valuation report from any of the Bank’s approved estate valuer
  • Search report
  • Credit checks

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