FAQ

Frequently Asked Questions

Frequently asked questions

National ID card, International Passport, Driver’s license, Permanent voter’s card etc. that has not yet expired.

Deposits can be made through various platforms available: 

– Correspondent bank from our partner banks . 

– Internet banking transfer from all commercial banks in Nigeria. 

The interest rate depends on the type of Savings account you have with us. 

The interest rate depends on the amount and maturity period. It is negotiable. 

The minimum amount is N50,000. 

The minimum tenor is 30days. 

Yes, however accrued interest may be charged depending on the type of interest payment chosen. 

Interest payments can be paid into your account of choice monthly, quarterly, annually or upon maturity. 

  • You must have been in business for more than 6 months and been at your shop for more than 6 months. 
  • 2 passport photograph. 
  • Means of Identification (Driver’s license, Permanent voters Card or International Passport) BVN. 
  • Recent Utility bill (not less than 3 months) 
  • A Guarantor (a business person or salary earner). 
  • Collateral for SME loans. 
  • Account statement and cheques for loans above 400,000. 

The loan application takes 2 – 3 working days after you have submitted your documents. 

You can get as low as N1,000 and as high as 1 Million subject to our assessment. 

Loan repayment is between 1 month to 12 months depending on the type of loan applied for. 

 

You can either; 

  1. Transfer from other banks to your Assets MfB account or 
  1. Transfer from Quick teller on ATM machines or on your mobile phone to your Assets MfB Account. 

You can also visit any of our Agent Banking officers to deposit through POS into your Assets MFB account. 

 

While we encourage you to save for a Brighter Future, you do not have to save before applying for a loan. However, there are some loans you are able to access based on the amount you have with us.  

You can only apply from your new location, based on our credit assessment. 

Yes, we have a loan category specifically for salary earners. 

No. Family members may not be used as guarantors. 

Kindly reach out to your account officer or visit any of our branches closest to you. 

You will write an application for a letter of Non-indebtedness to Assets MFB and it will be treated. 

Interest rate varies from 3% to 6% depending on the loan product. 

Yes, you can pay it off between 1 month to 12 months depending on the type of loan applied for. 

A valid ID-card, and a minimum balance of N2,000.