Fidelity bank loans could be a way to get yourself out of those temporary financial difficulties. Whether you are working as a salary income earner or have a business you manage, you can quickly access a loan via code, mobile app, or at the bank.
The bank has been known to be one of the top banks in Nigeria that offers all kinds of loans to meet immediate needs. On their list, you will find a great list of loans that include Instant Salary Advance Scheme, Personal Mortgage, Fidelity Easy Asset Leasing Scheme, and Fidelity Personal Loan Scheme.
Therefore, whether you are a customer of Fidelity Bank or not, there is a package for you. You just need to look into the right places. Luckily, you have got us to do that for you.
Whatever on the table, be it a fund to get a new car, house, home improvement, children’s school fees or just to meet some basic needs, this post will ensure you get a quick fix to whatever money problem you are currently experiencing.
FIDELITY BANK LOAN LOAN TYPES AND HOW TO APPLY
1. Fidelity Easy Asset Leasing Scheme
Fidelity Easy Asset Leasing Scheme is a personal loan that is specially designed for people who need to acquire properties such as household appliances, brand new vehicles, generators, inverters, laptops, and much more.
This could be good for customers who need to get some assets but do not have enough cash needed to procure them. As a bank that understands customers at times will need funds to meet up with standards, one can say it is one of the best initiatives ever provided by the bank.
Fidelity Easy Asset Leasing Scheme comes with an attractive rate and a flexible repayment plan. Customers also get to choose from a variety of vendors/dealers and manufacturers nationwide and with not more than 48hours approval time.
To apply for Fidelity Easy Asset Leasing Scheme, simply speak or chat with Fidelity bank customer care representatives online or visit any of their branches within your neighbourhood.
2. Fidelity Personal Loan Scheme
Sometimes, payment could get a bit delayed. People may need to take care of some immediate expenses such as hospital bills, children’s school fees, travel expenses, house rent but having little or no money to take care of it.
This is where Fidelity Personal Loan Scheme comes in to help you when you need it the most. With Fidelity Personal Loan Scheme (F-PLS), customers will be able to access funds to meet personal financial obligations.
Fidelity Personal Loan Scheme (F-PLS) has an attractive interest rate with a flexible repayment plan. It has great features such as Provision for enhancement( top-up) after part liquidation and Provision for loan buy back. The repayment period for Fidelity Personal Loan Scheme (F-PLS) is 60 months.
Customers will need to visit the bank or talk to customer care online to access the loan. The fidelity bank customer care agent will advise you on how to go about the loan.
Understand that you need to have a regular source of living to obtain this loan. It is the same for all loans but just stating the obvious.
3. Fidelity Bank Personal Mortgage
With the high cost of house rent in Lagos, Abuja, Port Harcourt, and some other parts of Nigeria. Having a plan in place to buy a home is one of the best decisions one could make to secure his or her future.
The time to start is now especially when you are still earning a reasonable amount of money every month.
Understand that the loan comes with collateral. The home you purchased will be used for the collateral, however, if you fail to make payments as agreed. The property can be claimed, sell and the loan amount claimed back by the bank. Do note that you will be given what is due to you after reclaiming the loan amount and interest on the loan.
Mortgage payments are based on the loan amount, the loan interest rate, tenor of the loan, age of the borrower. Always ensure you have a deep understanding of the loan before you go into it. This will allow you to prepare well.
Salaried employees, Self Employed individuals, Business Owners, Affluent Professionals, High Networth Individuals, etc are all eligible to access the loan. Repayment is up to 10years and 10% minimum equity contribution.
To apply for Personal Mortgage from Fidelity Bank, go to any Fidelity Bank near you or talk to customer care online.
4. Instant Salary Advance Scheme
Are you a salary earner and need quick funds to sort out some payment obligations? Salary advance is an escape out of those financial obligations.
With Instant Salary Advance Scheme, you can access up to 50% of your monthly income less any existing loan against your next payday. For instance, if your monthly salary will not be paid until next 30th, you can take a loan from Fidelity Bank to get things done.
This loan type does not need collateral or any documentation. Therefore, you can expect not more than 12 hours approval time.
Dial the ussd code *770*08# to access Fidelity bank digital Fastloans. Customers can also access the loan via the fastloan application.
To get started with fastloan, download the App from your app store (Google Play Store or App Store), create an account using an email and a phone number. Get instant access to loan offers and have the loan amount disbursed to your preferred bank account.
5. Fidelity SME Loans
The small and medium enterprises are always faced with funds needed to push the businesses forward. A lot of entrepreneurs are always in need of a loan to patch things up. Sometimes, it could be to secure raw materials or other expenses meant for production.
Fidelity bank has a scheme for these budding business owners, a move to build the needed capacity for entrepreneurial success.
The fidelity bank SMEs loan has been tailored to help further ease the poor-access-to-finance burden confronting MSMEs in Nigeria. As a qualified customer for the loan, you can borrow up to 200,000,000 depending on which loan products you go for.
Below Are The Loan Types Under Tailored Loan Products
1. Loan from Bank of Industry (BOI)
The Bank of Industry is a government-owned and development finance institution that focuses on providing loans for industrial equipment used in manufacturing.
The BOI has been in the business of helping businesses survive through their various finance programs. The interest rate is very attractive and comes with about 5 years repayment plan.
Borrowers will be able to get up to 5,000,000 naira in loan. Whether you pay back in a year or 5 years, the Total Amount Payable will still be the same. Do note that the minimum loan you can get from the bank of industry is N200,000.
2. Development Bank of Nigeria (DBN) Loan
Development Bank of Nigeria (DBN) is another branch responsible for helping businesses to survive in Nigeria. The bank provides loans to Micro, Small, and Medium Scale Enterprises in Nigeria.
As a qualified customer, you can enjoy the benefits of a very low-interest rate and high loan amount. The loan amount successful applicants can get is up to 200 million naira and up to 6 years tenor. The minimum loan amount that can be paid is one million naira.
3. Fidelity Pharmacy Support Facility
This is a product that supports eligible Pharmacists to meet the working capital needed to push their venture forward. They can enjoy a flexible repayment plan that would make it easier for them to pay back as arranged with the bank.
Therefore, if you are a Pharmacist and you feel it is time to get things improved, this is another opportunity to make that happen. The minimum loan amount is N100,000 and the maximum loan amount you can get is N5,000,000 with about 24 months tenor.
4. Commercial Support Overdraft
Another way to get a fast loan from fidelity bank is through commercial support overdraft. No matter your business type, fidelity bank can provide you with the working capital requirements of your business with this facility.
The drawback is that the loan duration is 30 days with a daily payment made every day. The minimum loan amount is N10,000 and the Maximum amount obtainable is N3,000,000. This form of business finance can assist businesses in the management of cash flows and also help to expand. Meanwhile, the interest rate is not friendly.
How To Apply For Fidelity SMEs Loans
To apply for Commercial Support Overdraft, Fidelity Pharmacy Support Facility, Development Bank of Nigeria, and BOI loan, simply visit any fidelity bank or call reach out to Fidelity Bank Customer Care on any of their platforms.
Do note that most SME loans from Fidelity Bank come with little or massive documentation. This is to protect the bank’s interest and also motivates borrowers to pay back. However, fidelity bank’s instant loan does not come with documentation.