Stanbic IBTC Bank loan is what you need when there is an urgent bill to pay or when you need to take that business to the next level.
Getting loans in Nigeria is not as difficult as people thought, one just needs to know the right sources. Unfortunately, not everyone knows that, this is why we are providing you ways to get a personal or business loan from Stanbic IBTC Bank.
There are requirements to get the loans but it will depend on the type of loan you are applying for, however, the main one is to have a source of living. You can be a salary income earner or self-employed. This first step is very important to get the loan you want because banks will want to know you can back your loan as agreed.
If you have all these requirements, below are the different loans available on Stanbic IBTC and how to apply.
TYPES OF LOANS OFFERED BY STANBIC IBTC BANK
1. Stanbic IBTC Bank Home Loan
As a bank that cares, you can get a mortgage from them if you are qualified for it. A mortgage is a facility that can be used to purchase a home or upgrade to a bigger landed property.
Taking a Stanbic IBTC Bank Home Loan could be the best decision you could ever take. The truth is if you are a salary income earner, your job will not always be there and the time to plan for your dream house is now. This will no doubt save you from further bills in the near future. This loan can also be taken by self-employed or business owners.
To qualify for Home Loan under Stanbic IBTC, you must be making a minimum of N200,000 (Two hundred thousand naira) monthly for an outright purchase, and N140,000 for an equity release loan. Also, applicants must be a minimum of 21 years and not more than 60 years at the end of the loan tenor (65 years for judges and lecturers). Salary account must be domiciled with Stanbic Bank if you are a paid employee.
The minimum loan amount is N3 million while the minimum property value for providing an equity release loan is N5 million.
Salary income earners can get up to 20 years to repay the loan depending on several factors like age, retirement age, etc. If you are self-employed, the maximum repayment period is 7 years.
To apply for Stanbic IBTC Bank Home Loan, simply get in touch with Stanbic IBTC Bank Customer Care at any of their branches in Nigeria. You can also call them via their online channel for further information.
2. Salary Advance
Despite the laid out plan to go through the month with ease, emergency needs may suddenly arise. When it happens, borrowing from friends or families could be the best option.
When all fails, you have a bank that can give you a Salary advance, a revolving bridging loan to help you get through the month. As the name implies, salary advance is a facility designed by Stanbic IBTC to help customers meet their emergency needs.
Anyone applying for this loan must be 21 years or older (but not older than 60 years when the facility would end) and with their salary account with the bank. They must have been with their employers for at least six months and earning a minimum salary of N40,000 monthly. The minimum loan amount is N20,000 and has 12 months tenor.
How To Apply For Salary Advance
- To apply for a salary advance, visit the nearest Stanbic IBTC Branch and speak with any of their agents.
- If you have no time to visit the bank, you can call the heritage customer care helpline on 01 422 2222 or email [email protected].
3. Vehicle and Asset Finance
A home loan is not only the asset loan you can get from Stanbic IBTC bank. Another facility you can enjoy is Vehicle and Asset Finance.
People often go for this type of loan when they need an automobile. Since they may be unable to acquire it at present, they will consider a loan package that allows them to make installment payments over a period of time, up to 4 years tenors for repayment precisely.
If you are a salary income earner with your salary account domiciled with the bank, you are expected to make a down payment of 10% of the total cost of the automobile. The repayment period is up to 60 months.
As a banker whose account is not domiciled with the bank, you will need to make a minimum of 40% initial contribution from the asset cost. The tenor of the loan is 48 months.
However, there is also a new Product called PAAS- Personal Assets Acquisition Scheme that comes with no down payment. This product is only for salary domiciled customers and pre-approved Employers.
Customers buying Inverter and Solar Solution can access a maximum loan limit of N5M with tenor up to 18 months. For new or old vehicles, the maximum loan limit is N15m and the tenor is 48 months. Generator maximum loan limit of N7m and tenor is 36 months.
To apply for Vehicle and Asset Finance, go to any of their branches in Nigeria, request for form, and complete documentation.
4. Smart Loan
Salary income earners can also access another loan product called Smart Loan, this is a cash-on-hand for unforeseen circumstances as an overdraft or fixed loan.
This loan is only available to Existing and New tank customers with a minimum Stanbic IBTC Asset Management Limited (SIAML) Fund of N50,000 can apply for the loan. However, they must satisfy some requirements, they are:
Applicants must be 21 years old or older and the salary must be paid into a current account with Stanbic IBTC Bank. Also, customers must have a satisfactory credit bureau report, most importantly, a regular source of income.
Successful applicants can get up to 80% of their Investments as a loan and a maximum tenor of 1 to 5 years. The minimum loan amount is N20,000.
To apply for Stanbic Bank Smart Loan, visit any of their branches around you and request for the loan application form. You can also contact their helpline for more enquiries.
For Term loans, customers will be required to show proof of source of repayment which will be the most recent 3months payslip from their employer or other proof of regular source of income as acceptable to the Bank.
5. Secured term loans
If you are a salary income earner with a minimum salary of N100,000, you can get access to the money you need to achieve your goals with repayments over a fixed term.
Payday or not, the inflow from it may be unable to help you do things that need to be done.
Meanwhile, to get a secured term loan, some conditions must be fulfilled. You must have been with your current employer for at least 6 months and salary account domiciled with Stanbic IBTC Bank.
This type of loan is secured by collateral, a means to incentivize borrowers to repay the loan on time. Your salary is collateral.
A satisfactory credit bureau report is also important for applicants who want to obtain this facility. As at the point of application, you must have attained 21 years or older but not older than 60 years on the expiration of the facility.
If you meet all these requirements, you should visit the bank and request for the loan application form. Customers can also contact the Stanbic customer care rep via any of their online platforms.
6. Unsecured Loans
As the name suggests, this is a loan secured by no collateral. An unsecured loan from Stanbic IBTC Bank allows you to get the facility you need to meet any emergency or project you want to embark on. You also get an option of a revolving loan.
To get this loan, you must have been with your current employer for a minimum of 6 months and your salary account must be with Stanbic iBTC. Aside from that, you must be 21 years or older (but not older than 60 years on the expiration of the facility) and with a good credit bureau report.
Successful applicants can take a minimum loan amount of N20,000 with the option to revolve loan when 15% of the full amount has been re-paid. The tenor of the loan is flexible and mostly depends on the amount, risk nature, and some other factors.
To apply for Stanbic IBTC Unsecured Loan, contact your relationship officer or customer care agent on their platform. You can also visit the bank during their official working hours.
7. Stanbic Business Loans
If you are a small and medium enterprise owner (SMEs), you can get a loan to expand your operations, create opportunities, and grow your business. You will find quite a lot of loan options, they are AgriBusiness Finance, Distributor Finance, Invoice Discounting, Purchase Order Discounting, Trade Finance, and Overdraft.
Other loan options you can access are VAF DISTRIBUTOR FINANCE and SCHOOL LENDING.
VAF distributor finance is given to business owners that have been in the business for at least 6 months.
School lending is a short to long term facility given to privately owned schools to improve the general well being of the school. When this type of loan is given out, the school fees are used as collateral.
To apply for Heritage Bank Business Loan, simply visit any of their branches in Nigeria. Chat with customer care concerning the loan. If you are qualified, you will get any of the loan facilities under Business Loan. Meanwhile, ask your bank for a recommendation.
8. Stanbic IBTC Ez Cash
Stanbic IBTC EZ cash loan is accessible to customers with personal current/salary accounts with Stanbic IBTC Bank. It is a 12-month loan facility with an interest rate of 2.5% per month.
You can enjoy instant access to funds ranging from N20,000 up to N4,000,000 for a period of 12 months with no documentation and collateral required.
The other fees include: management fee of 1% on amount borrowed, value added tax (VAT) of 0.05% on amount borrowed, and insurance fee of 0.35% on amount borrowed
Loans can be accessed via Stanbic IBTC bank quick loan ussd code, mobile app, internet banking on the official website.
How To Apply For Stanbic IBTC Ez Cash
- To apply for Stanbic IBTC Ez Cash via the Stanbic IBTC USSD Code, dial *909*44# to check your eligibility status. If you are qualified for the loan, follow the on-screen instructions to access the loan.
- Another way to apply for Stanbic IBTC Ez Cash Loan is through their official website. For quick access, click ienroll.stanbicibtc.com:8444/EZCash and enter your account number and phone number linked to your account. Follow on-screen prompts.
- Customers can also download StanbicIBTC mobile app or visit Stanbic bank online banking platform to access the Stanbic bank ease loan.