Direct Link To Apply For Nirsal CBN Interest Free TCF Credit Loan, Portal Login

The Central Bank of Nigeria (CBN), together with Nirsal Microfinance Bank, has launched a portal where eligible Nigerians can apply for an interest-free TCF loan.

In line with the CBN’s decision to extend a non-interest window to businesses and households that have been impacted negatively by the Covid 19 pandemic, NIRSAL Microfinance Bank’s portal is now live for applicants who are eligible under this scheme to apply.

Who is Eligible for Nirsal Loan?

1. MSME with 1 5 staff and verifiable evidence of business activities adversely affected as a result of the pandemic with evidence of job protection for its staff.

2. Hospitality businesses, health (pharmaceuticals and medical supplies) Airline service providers, manufacturing/value addition, trading, and any other income-generating activities as may be prescribed by CBN and are Shari’ah compliant.

The financing limit for MSME’s is N2,500,000 while Household is N1,000,000.

Facility Type: Term Credit Facility

Maximum Facility Amount: Household: N500,000.00

Profit margin: 9%

Maximum Payment Period: 36 months

NB: In case you default, payments will be recovered from your accounts. Note that you must accept this as part of the offer letter.

How to Apply for Nirsal Non Interest Loan

Interested Applicants should apply via https://www.nmfb.com.ng

For further enquiries, contact 09010026900.

Step 1: Application for Financing

Apply for the TCF-NI facility by providing relevant personal information and the business to be financed.

Step 2: Acceptance of Offer and other Agreements

You will be notified when your application is approved and required to do the following:

Generate the Offer Letter and accept it
Generate the Undertaking to Buy Agreement and accept it
Input the details of the items to be financed. This must conform with the approved amount as shown on your offer letter.
You will finally attach invoices for all the items to be financed.

Step 3: Taking delivery and Execution of Murabahah Agreement

Upon fulfilment of Phase 2, wait for the disbursement of funds to the proposed vendor. The funds will be used to purchase equipment and raw materials from the vendor.

Either NMFB or you as its agent will then be assigned to take delivery of the assets. After taking delivery, you will be required to execute the Murabahah agreement on the final stage of the contract.

Application Process

STEP 1: APPLICATION STATUS

Choose whether you are a NEW or RETURNING applicant?

Remember to copy and save your APPLICATION REFERENCE NUMBER (in this format: TCFNI1234567).

Step 2: BVN Details

Enter your BVN and click on “Validate BVN” and confirm your details.

Step 3: Applicant’s Details

After you have validated your BVN, check the details displayed to confirm that everything is ok, and click “Next”.

Step 4: Biodata Information

Fill in PROMOTER INFORMATION (your biodata): Email, Phone number, Address and State of Residence, etc.

Step 5: Financing Information

Select the purpose of the facility application. Select only one (1) purpose *

To purchase equipment or asset for home use
To purchase equipment or asset to expand business
Step 6: DECLARATION

Select how you heard about the TCF application, and check the button “I hereby declare that the information provided is true and correct”. Then click SUBMIT.

If your submission is successful, you will get this message below:

“TCF-NI CREDIT APPLICATION (HOUSEHOLDS)

“Non-Interest TCF Household Application was successfully validated and created. Thank you for applying for the TCF-NI Household facility. Your application will be processed, and you will be notified of the status of your application.”

How to Apply|NON-INTEREST TCF FACILITY APPLICATION
Visit https://nibloans.nmfb.com.ng/nmfbloanapplicationportal
Select Non-Interest Facilities
Select Non-interest TCF
Click on the option below to proceed
Select APPLY FOR HOUSEHOLDS FACILITY (NON-INTEREST)
Interested and qualified businesses and households should apply via the Nirsal MFB website on www.nmfb.com.ng for businesses or households: