NIRSAL microfinance bank loan 2021 NMFB Household loan login portal NIRSAL loan Update

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NIRSAL microfinance bank loan 2021 NMFB Household loan login portal NIRSAL loan Update

You might have heard about the NIRSAL Microfinance Bank. Well it is a financial institutions that has so much to offer to the average Nigerians and business alike in this time of Covid-19 pandemic impact on the economy.

NIRSAL microfinance bank is a channel through which CBN disbursed their covid-19 loan to beneficiaries and also help businesses alike to keep expanding.Nirsal Microfinance Loan

NIRSAL can also be called NMFB and has its full name as the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc.)

this financial institution that caters for the needs of agricultural sector and can also be called an Agric based bank because their aim is to help the facilitation of free flow of finance credit to farmers in and around Nigeria.

NIRSAL is poised as redefining the Agric sector and help boasting food production and products that will help sustain the ever increasing population and put a big cut on food import which takes a large chunk of scarce foreign exchange.

NIRSAL Microfinance Bank Loan 2021

Are you interested in getting loan and financial assistance as a farmer who owns a farm or any line of business in the Agric field?
The following are loan products offered by NMFB

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this is a loan for businesses and households alike. This loan comes from the federal Government through the CBN and is being disbursed by NIRSAL Microfinance Bank.

Remember that the NIRSAL Microfinance Bank Loan is a loan and not a grant, please don’t confuse it to free money where individuals or beneficiaries won’t pay back but rather a loan that even comes with interest on it.

Here is a breakdown on how the loan is :

Categories of CBN Covid-19 Loan

For Household:

  • FACILITY TYPE: Term Loan
  • LOAN TENOR: Maximum of 36 months
  • MORATORIUM: At least 12 months
  • PRICING: 5% per annum and 9% subsequently depends on the time you got the loan.
  • REPAYMENT STRUCTURE: Installment basis.

For SMEs:

  • FACILITY TYPE: Term Loan
  • LOAN TENOR: Maximum of 36 months
  • MORATORIUM: At least 12 months
  • PRICING ……?
  • REPAYMENT STRUCTURE: Installment basis,

To apply here is the link

The Agric, Small Medium Enterprise Scheme (AGSMEIS):

are you in need of a huge financial loan of up to 10 million naira? Then you need to think about AGSMEIS loan which is designed for businesses that are considered small and medium-scale enterprises.

The key note here is that these businesses should be a creative art such as (fashion, beauty, apparel & textile, arts & entertainment) or they can be manufacturer of certain lines of products such as (agriculture & allied Processing, automobiles),

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Not done yet, the AGSMEIS loan helps businesses in the Industrial & Manufacturing Information & Communication Technology (telecommunication and media & publishing) and Hospitality (catering & event management).

If you watch very well, you will noticed that the loan is to help businesses in all facet of life as for as Nigerians are concerned.

The most important thing here is to have a business running that employs a few or large numbers of Nigerians and also has steady inflow of funds then you could be qualified to access a single digit rate loan of just 9 percent per year to keep your business running and expanding, breaking new grounds.

Anchor Borrowers’ Program:

this a loan that will create a conducive environment and help improve the relationship between small farmers in the rural and urban area and companies engaged in the processing sector.

This is aimed at reducing spoilage of food products due to lack of bulk buyers and also help those processors get continuous supply of products.

NIRSAL Microfinance Bank Access Target Account:

this is not a loan but just to assist individuals with the culture of saving their money for specific reasons.

if you wants to maintain and develop a healthy savings culture then you should look at this offer from NIRSAL microfinance bank.

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It helps you saves fund that will be dedicated to a particular purpose, it could be for your annual rent or for the purpose of getting new machines and equipments or even goods.

How to Apply for A Nirsal Loan

Before accessing any loan you should possess some documents, so let’s help you list those documents below:

  • You should get Your letter of employment
  • Your pay slip should be intact
  • Your staff ID card is necessary
  • 6 months statement of your bank account will be demanded
  • Other valid means of ID like your National ID, Drivers’ licence, and so on
  • A utility bill
  • 2 passport photographs
  • A guarantor form

How do I register with Nirsal?

  • Here is the application link.
  • You should access the online application form
  • Fill in your details as demanded on the portal.
  • Submit and wait for approval.

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