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EASY MFB FOR YOUR BUSINESS
The People's Bank
Our Key Strategy
Provision of financial services to the economically active poor, Capacity building for micro-entrepreneurs, Skill acquisition programmes and poverty alleviation programmes through employment generation
Access to loan facility of N50,000.00.
Repayment tenor is 6 months.
Minimum Compulsory savings of N800.00 per month.
Repayment will be either on daily basis or weekly
Interest Rate of 5% per month.
Two guarantors are required.
A current account is opened in the name of the Donor using the signed MOU as the required documentation.
Two times of the contribution is given as loan payable for 60 days.
Loan Application forms to be obtained at different prices depending on the loan-able amount.
7% interest rate is charged on the principal amount monthly on reducing balances
OUR OBJECTIVES
To provide a wide range of financial services to a substantial and diversified Customer-base that includes low income earners and households, lowered entrepreneurs, the under banked and high networth individuals (HNIs) among others. To encourage saving culture to ensure sustainability in business of each customer as a tool to poverty alleviation in Nigeria.
- To provide viable business models that provide access and financial empowerment to those on the base of the economic pyramid that constitute 80% of the about 165million Nigerians and also provide appreciable returns on investments.
- To provide credit to customers, especially small and medium enterprises, low income earners and ensure effective loans usage among beneficiaries. Render business advisory and non bank financial services to our customers.
JOIN THE MOVING TRAIN
Our Services
3% credit interest payable to customers at the end of every month based on their closing balances for the month provided that the number of withdrawals do not exceed two times in a month
5% credit interest payable to customers at the end of every month based on their closing balance for the month.
10% withholding tax is charged on the 5% credit interest monthly
2% of the Principal amount payable upfront as management fees.
7% interest rate charged monthly on reducing balances.
2 Guarantors plus tangible security required for loans above N100,000.
Search is conducted at CAC on the company at the cost of N3,000 (limited liability company) and unlimited company).
Interest of 7% flat on principal amount on reducing balance.
Immediate repeat loan on completion of repayment.
3% per annum is paid as interest to customers.
Testimonials
I am a salary earner and i save monthly to my account for my Children School fees. This saves me time and extra efforts
I am very poor in managing money, this bank saves me a lot. Now i can manage all my funds without having to bother too much
I owned a cooperate account in your bank and at one point I was having issues with the provide bank statement but I love the way I was attended to. You’ve got good customer service I must say.
My Business was at the point of crashing when my friend introduce me to you. I am so grateful for the opportunity.
