|
PayDay Loan
|
Salary account holders with Access Bank
|
Up to 75% of monthly salary
|
Against next salary payment or 30 days (whichever comes first)
|
Interest 5%
Management fee 1%
Credit Life Insurance 0.3%
Penal Charge 1% per month upon default
|
|
Other bank customers whose salaries are processed via IPPIS or Remita
|
Up to 50% of monthly salary, but subject to a max. of ₦500,000
|
Against next salary payment or 30 days (whichever comes first).
Your repayment will be deducted from your next salary and taken from your other bank account
|
Interest 6%
Management fee 1%
Credit Life Insurance 0.3%
Penal Charge 1% per month upon default
|
|
Lending Against Turnover (LATO/ILAT)
|
Customers who maintain an average balance of ₦20,000 over six months
|
Up to 20% of Average Turnover, subject to a max. of ₦300,000
|
90 days with repayment over 3 months
|
Interest 5% on reducing balance
Management fee 1%
Credit Life Insurance 0.5%
Penal Charge 1% per month upon default
|
|
LATO Premium
(PLAT)
|
Customers who maintain a minimum turnover of N200,000 in the last 30 days and N500,000 in the last 6-12 months.
|
Up to 20% of Average Turnover, subject to a max. of ₦500,000
|
90 days with repayment over 3 months
|
Interest 5% on reducing balance
Management fee 1%
Credit Life Insurance 0.5%
Penal Charge 1% per month upon default
|
|
Salary Advance
(SADV)
|
Salary account holders with Access Bank who earn a minimum of N50,000
|
Up to 200% of monthly salary
|
180 days with repayment over six (6) monthly instalments
|
Interest 3.9% on reducing balance
Management fee 1%
Credit Life Insurance 0.7%
Penal Charge 1% per month upon default
Please note that all these will be take upfront at the point of disbursal
|
|
Small Ticket Personal Loan
(STPL)
|
Salary account holders with Access Bank who earn a minimum of N100,000
|
Up to 400% of monthly salary
|
365 days with repayment over six (6) monthly instalments
|
Interest 3.7% on reducing balance
Management fee 1%
Credit Life Insurance 1%
Penal Charge 1% per month upon default
Please note that all these will be take upfront at the point of disbursal
|
|
Device Finance
(DFPS)
|
Salary account holders with Access Bank & other bank customers
|
Up to 33% of annual salary, but subject to a max. of ₦500,000
|
12-months with monthly deductions
|
Mark-up fees vary: Devices are purchased at discounted rates and sold at market value
Credit Life Insurance 1%
Penal Charge 1% per month upon default
Please note that all these will be take upfront at the point of disbursal
|