Loan Guide

Tips on securing loans in Nigeria

A housing loan in Nigeria is usually referred to as Mortgage and is defined as a loan that is given by a financial institution for purpose of purchasing real estate. This loan is usually for a residential property that is used as collateral to secure the loan.    Housing loans usually attract a lower interest rate because the loan is secured against default on the property. The central bank of Nigeria states that lenders reported an
The goal of the National Identification Number (NIN) is to uniquely verify the identity of each citizen or foreign resident for security and development purposes. It also helps lenders to know the true identity of each borrower, so knowing how to check your NIN is now a key factor to securing a loan in Nigeria. Your National Identification Number (NIN) is used to bring together all records about you – demographic data, fingerprints, head-to-shoulder facial
2019 Non-performing loans in Nigeria
A Non-Performing Loan (NPL) in Nigeria is the sum of money borrowed in a loan contract in which the borrower has not made required repayments agreed to for at least 90 days. The 2019 Non-performing loans in Nigeria Ranking The Central Bank of Nigeria sets limits for banks and other financial institutions on non-performing loans to reflect in their books. For the Mortgage Refinance Corporation, it stated, “The maximum ratio of non-performing loans to total
The types of loans offered in Nigeria differ from one another by the terms of the loans. Learning the differences between the various types of loans can help you evaluate your lending needs and weigh your options—you’ll have a better understanding of which loan will best suit your needs and how to evaluate the terms offered by various lenders. There are many different types of consumer loans. Some of the most common types of loans
Home loans in Nigeria exist to help with such lump-sum payments as those for home purchase, rent, repairs and decorations for residents of Nigeria. In this article we guide you on the optimal loan tenor for your needs. How are home loans in Nigeria processed? How are online lenders able to approve personal loans so quickly? They typically use specially designed software to consider a borrower’s potential risk factors quickly and easily. Combine that with
Many young aspiring Nigerian entrepreneurs have an idea for their business but lack the capital to actually start it. Getting loans for Loans for Nigerian Startups can be incredibly difficult, as they are often turned down for bank loans, and even if your business is established, funds can still be tough to secure. So what options are left for those aspiring to be the next Dangote? Angel investors Angel investors invest in early-stage or startup
2020 top banks in Nigeria by earnings
Gross earnings are income before taxes or adjustments, it is calculated as revenues minus expenses. Bank’s gross earnings is one measure among many of how well it uses its resources to produce a profit. In this educational article, we list the 2020 top banks in Nigeria by earnings. A company’s gross earnings are reported periodically on its income statement. The first line of the income statement reports a company’s total sales and revenues for a