HEAD OFFICE: 17,Verité Building, Apongbon Street, Lagos-Island,Nigeria West Africa. HOTLINES: 08099995777, 01-2932072. WORK HOURS: Mon - Fri 8:00am-6:00pm, Sat 9:00am-2:00pm

Loan Application Form

TERMS AND CONDITIONS 

In line with the prudential guidelines of the Central Bank of Nigeria, Our terms and Conditions for loans are stated as follows;

AMOUNT 1st Month Repayment 2nd Month Repayment 3rd Month Repayment 4th Month Repayment 5th Month Repayment TOTAL
20,000 4,600 4,600 4,600 4,600 4,600 23,000
30,000 6,900 6,900 6,900 6,900 6,900 34,500
40,000 9,200 9,200 9,200 9,200 9,200 46,000
50,000 11,500 11,500 11,500 11,500 11,500 57,500
100,000 23,000 23,000 23,000 23,000 23,000 115,000
200,000 46,000 46,000 46,000 46,000 46,000 230,000
250,000 57,500 57,500 57,500 57,500 57,500 287,000
300,000 69,000 69,000 69,000 69,000 69,000 345,000
500,000 115,000 115,000 115,000 115,000 115,000 575,000
1,000,000 230,000 230,000 230,000 230,000 230,000 1,150,000

Please Note:

  • That, the table above is simply for your guidance. repayment plan is not limited to the above table.
  • That, Interest rates may be modified or charged by the management of Verite Microfinance Bank without prior notice.
  • Loan can be terminated or cancelled prematurely for loss of confidence in the borrower.
  • All cheques are presented a day before borrower’s pay day, Therefore, customers wishing to pay cash must do so 2-days before pay day.
  • Borrower must notify the bank in case of job loss or change of job or residential address or other relevant changes.
  • Borrower agrees that collateral becomes the property of the bank and agrees that the bank may exercise all rights of ownership. And that the borrower can only buy it back or have access to it upon settlement of all indebtedness to the bank
  • Borrower agrees to abide by all other terms and conditions as may be stated in the loan form,offer letter and loan contracts.

Verite Microfinance Bank Ltd reserves the right to approve, disapprove or reject any loan without stating reasons for such actions.

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