Non-Interest Nirsal microfinance bank loan application Guide

what is Nirsal microfinance bank loan?

The Central Bank of Nigeria is offering loans to all MSME (Micro, Small and Medium Enterprises) in Nigeria and also households. Loans are being granted at interest rates of 9% by the bank. These loans are being targeted at those small groups who have been majorly hit by the COVID-19 pandemic. 

The bank loan application is found in the NIRSAL bank portal. From the portal you can find application forms of three types- Non-interest AGSMEIS (Agric Small and Medium Enterprise Scheme), Non-interest TCF (targeted credit facility) applications for household and SME aimed separately.

How to apply for Nirsal microfinance bank loan application form?

The NIRSAL Microfinance Loan application can be submitted from the portal. You can use any of your devices to apply for the NIRSAL Microfinance Loan. 

From the link given below, you can apply for the NIRSAL Microfinance Loan. 

• Once you click on the given link, you can find a pop-up.
• The pop-up gives you three options- non-interest AGSMEIS, Non-interest TCF (Household and SME).
• Once you click on the one you want to apply for, the portal asks you to specify if you’re a new or returning customer.
• If you specify, you are new, you will be able to see another pop-up that mentions the loan details.
• To continue, you must specify your BVN (Bank Verification Number).
• The form opens up for you where you need to mention your banking details, complete name, address, and other such details.
• After filling up the form and attaching the required documents, you can go ahead and apply.

Application Requirements

Applying for a NIRSAL loan through the portal is easy as long as you have the required documents handy.

Requirements you must meet to submit the application form include;

• Your payslips from the past and now.
• Employment letter
• A copy of the staff identity card.
• Bank statements for the past 6 months
• National IDs like Driver’s License or some other National ID.
• A form filled by a guarantor
• Two passport-size photographs and your utility bills.

How to check Nirsal non-interest loan application status?

To check this NIRSAL Loan Application status, you must refer to the below procedure.

• Log-in to the official application portal from the above-given link.
• Choose the loan type for which you applied
• Add your BVN and wait for the response generation.
• Your loan would either be approved, declined, or in the processing queue.

Application Closing Date?

There is no specific closing date for the NIRSAL loan application process.

The NIRSAL loan application portal link is being tagged here for your reference.

Conclusion

The NIRSAL Loan is a way people can apply for loans in Nigeria at a low rate. If you’re planning to apply for a loan, ensure you browse through the article to understand the loan process better.