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How To successfully Apply For Zero Interest Loans Through Nirsal Microfinance Bank Has Been Shared By GoldenNewsNg.

GoldenNewsNg understands that when it comes to the leading financial institutions in Nigeria, Nirsal Microfinance Bank (NMFB) will definitely make the list.

ALSO: Update On NIRSAL: Application, Payment Date, Reapply For Covid19 Loan

Nirsal Microfinance Bank (NMFB) is a part of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL). NIRSAL is a non banking firm that hasten (facilitate) the flow of investment/finance to the country’s agricultural sector.

READ: How To Access AB Microfinance Bank Loan Open To All Nigerians

The major aim of NIRSAL is to redefine business dealings in the Agricultural sector, as well as all activities concerning the sector in Nigeria. This is easily achieved by NIRSAL through its repricing strategy, sharing, and measuring of credit risks in the sector.

NIRSAL Microfinance Bank (NMFB) Loan

NMFB have some special loan products/packages that they offer to the general public, especially those in need of loans. These loan packages are as follows;


1. The Agric, Small Medium Enterprise Scheme (AGSMEIS)

One of the loan package offered by NMFB is the AGSMEIS loan scheme, where they give up to ten million naira (N10,000,000) to small and medium-scale enterprises that applied for this special loan package. The kind of businesses that can easily access the AGSMEIS loan are;

  • Industrial and Manufacturing e.g automobile, agriculture & allied Processing, etc.
  • Creative and art industries e.g fashion, entertainment, etc.
  • Information & Communication Technology e.g media, publishing etc.
  • Hospitality e.g event planning, catering, etc.

The AGSMEIS loan does not necessarily demands collateral, but usually goes with 9% interest rate per annum.

2. Anchor Borrowers’ Program

This is another loan scheme offered by Nirsal Microfinance Bank (NMFB) in collaboration with the Central Bank of Nigeria (CBN). This very loan was designed to link companies that are into processing with farmers (basically small-scale farmers) who are into production of essential agricultural commodities in the country.


Interested applicants are to walk straight to any of NMFB office, and request for the application form.

3. NIRSAL Microfinance Bank Access Target Account

This is a special package offered by Nirsal Microfinance Bank (NMFB), it is a saving scheme and not a loan scheme per say.

In this package, individuals, micro, small, as well as medium-scale enterprises are given the opportunity to develop a healthy saving culture to meet up pressing needs, demands and targets.

The saving scheme runs for a particular duration of time, by which the project or purpose can be achieved. In Access Target Account, NMFB accept savings for the following purposes;

  • Rent payment.
  • Commodity/goods purchase.
  • Purchase of equipments.
  • Festivities.

Anyone running this package can make withdrawals during the saving period, but has a limited withdrawal to make depending on the terms (pre-agreed conditions) reached at the beginning.

One can start with an opening balance of a thousand naira (N1,000) or five hundred naira (N500).

How to Apply for Nirsal Loan Package

To access Nirsal Loan, there are some necessary documents/credentials that must be made available. The required documents/credentials are;

  • 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


  1. Nirsal Loan usually have a broader range of loans they give out.
  2. They gives competitive rates to their loans


  1. Large amount of loan requires lots of paperwork.
  2. There is need for a guarantor, when applicants chooses a special loan package.
  3. Recipients are entitled to compulsory training.

We believe from the thorough explanations given about the various loan packages offered by NMFB, you can easily opt in for you preferred package, or enlighten someone else out there about it


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