See How you can Access Zero Interest Loans through Nirsal Microfinance Bank –
Do you need free Interest loan for your business? Then think about Nirsal microfinance bank.
When it comes to giving free interest loan or loan with no collaterals in Nigeria, then you have to consider jumping at the offer of Nirsal Microfinance Bank (NMFB)
Being a part of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), they are established to help the Agric sector with the needed financial support needed expand and sustain all year round output.
The major objective of NIRSAL is to redefine business dealings in the Agricultural sector
NIRSAL Microfinance Bank (NMFB) Loan
There are numerous loan packages that NIRSAL Microfinance Bank (NMFB) can provide you with, this will not only suit the size of your business but also take into consideration the amount of time (number of months) needed to complete a full cycle of production.
Let’s take our time and help list these loan packages:
1. The Agric, Small Medium Enterprise Scheme (AGSMEIS)
You must have heard of AGSMEIS before, well its just a loan package for SMEs but honestly speaking the loan available under this scheme is huge.
Like you can access 10 million naira with the right approach. Don’t worry we will list some of the recruitment here.
Don’t have collaterals? Don’t worry AGSMEIS is first of it kind that don’t care about collateral.
But the interest rate here is not that cheap, we are expecting to see 5% interest rate but right now they are offering 9% interest rate.
Not that bad, it’s still far better compared to what you get from most commercial banks.
If your business fall under this category then you are qualified to apply:
Industrial and Manufacturing such as automobile, agriculture & allied Processing, etc.
Creative and art industries such as fashion, entertainment, etc.
Information & Communication Technology such as media, publishing etc.
Hospitality e.g event planning, catering, etc.
2. Anchor Borrowers’ Program
Anchor Borrowers’ Program loan is another package but this time around, NIRSAL Microfinance Bank (NMFB) will be collaborating with the central bank of Nigeria.
They have it in mind to help create a bridge or connection between farmers and big time companies who needs this farm product to process their industrial outputs.
If you are a small scale farmer then you won’t be bothered about selling your product at giveaway or some of them spoiling before they get to the final consumer.
This loan could be access by first taking a walk to their office and signing up after receiving the application form.
3. Access Target Account
This to my knowledge didn’t meet the requirements to be called a loan or it simply did not fall in the loan category but I just felt like we should let you know about what it’s all about.
Access Target Account is just an account you can open and maintain with Nirsal Microfinance Bank. The same way you usually open and run a savings Account likewise you can also run Access Target Account.
The benefit of this account is that it helps you to develop a healthy saving lifestyle and this is the main reason we are recommending it to you.
We understand that the best way to raise money for investment is through long term savings, not only will you get the needed fund to fund your business, you could also save to meet urgent needs, expand your business and also meet unexpected demands and target in your business.
Access Target Account you can save for the following :
- Rent payment.
- Commodity or goods purchase.
- Purchase of equipments.
Remember that this is not a fixed deposit account, you can withdraw at interval to meet certain needs but your withdrawal is limited. This is done in a way that you are forced to allow the account grow to certain extent.
So what are you waiting for!! Why not open the account right away with just 1000 or 500 naira and start saving for that your dream project.
How to Apply for Nirsal Loan Package
Before starting your application journey, here are some requirements to meet:
- Letter of employment.
- Staff Identity Card.
- Valid means of Identification (i.e National Identity Card, Voter’s card, or Driver’s Licence).
- Pay slip.
- Statement of account from bank (Last 6 months).
- Any utility bill.
- Two recent passport photograph.
- A signed guarantor’s form.
- Review Nirsal Loan