Interest Rate (3.5% – 30%)




Fina Trust Microfinance Bank

Fina Trust Microfinance Bank is an institution offering loans for multiple purposes in Nigeria.

Their Group loan is available at 3.5%. 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.

It is formed because accessing formal institutions is difficult due to their unavailability or because these institutions are unable to provide the appropriate service. The group loan reduces the risk to the lender which allows them to charge a lower interest rate than on a normal individual loan.

The transactions can vary in occurrences as often as daily to every six months, and recipients of funds are commonly chosen based on financial need or lottery. For example, six people may agree to give N10 to a fund every month for six months. Each month, a different member of the group collects the N50 contributed by the other five members and uses it for their business expenses or personal consumption. This arrangement allows people who can’t normally raise substantial capital to have periodic access to such funds.


  • Convenient repayment plan (equal monthly Principal and Interest repayments).
  • Flexible conditions.
  • Retail businesses may obtain funds for capital projects while repayment is done on installments.


  • Guarantor required
  • Maximum tenor of six months

Requirements for Group Loan

  • Group members must be in the same location.
  • Group guarantee.
  • Two credible guarantors.


There are no reviews yet.

Be the first to review “Finatrust”

Your email address will not be published. Required fields are marked *