GoldenNewsNG
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us
No Result
View All Result
Golden News
No Result
View All Result

How To Access AB Microfinance Bank Loan Open To All Nigerians

Enudi Golden by Enudi Golden
January 11, 2024
in business, Featured, Scholarship/ Opportunities
Reading Time: 4 mins read
How To Access AB Microfinance Bank Loan
23
SHARES
Advertisements

Details On How To Access AB Microfinance Bank Loan Open To All Nigerians Has Emerged.

GoldenNewsNg reports that AB Microfinance Bank has fully found its way into the financial sector in Nigeria, of which its inclusion into the banking sector is widely recognized. The bank offers loan of up to a N20million for businesses across Nigeria.

List of Services Rendered by AB Microfinance Bank

AB MFB offers several services which are elucidated below;

READ ALSO

Nigerian Banks Resume International Transactions on Naira Debit Cards

Dollar to Naira Black Market Exchange Rate today 5th July 2025 – AbokiFX

  • Savings and current accounts.
  • Term Deposits.
  • Business Loans for MSMEs.

Aside from the other services rendered/offered by AB MFB, this post will expatiate solely on its loan service and all that applies to secure a loan from the bank.

Types of Loan Given by AB Microfinance Bank

ALSO: Npower Physical Verification Date & Requirements for Batch C

  • MicroLoan.
  • SME Loan.
  • Housing Loan.

1. Microloan

The microloan of AB MFB is a type of loan that is basically meant for entrepreneurs. This very loan gives business owners the opportunity to access loans swiftly, and very fast.

SEE ALSO: Forex Loans | Everything you need to know

The accessable amount ranges from fifteen thousand naira (N15,000) to three million naira (N3,000,000), and it’s repayable within eighteen (18) months time.

FEATURES

READ: Apply For FG Zero Interest Loans For Small Businesses Here

One need not to have savings account with the bank or make any form of deposit before accessing loan(s).

Statement of financial summary is not required to access loan.

Only a flexible collateral is required, and not something so big that will scare clients away.

The documents to complete the process is quite easy to obtain from the bank.

Old clients with good credit ratings are being given interest rate discount successively.

Anyone can easily access this loan without using any group, or firm. Loan decision is made by the borrower, unlike other loan providers.

Loan disbursement take place within three (3) working days, as long as the necessary criteria and documentations has being done.

The rates applied is based on the disbursable amount attached to the product;

Flexi: N15,000 – N100,000 (6.6%)

Plus: N100,000 – N500,000 (6.1%)

Max: N500,000 – N1,000,000 (5.7%)

Max Plus I: N1,000,000 – N2,000,000 (5.2%)

Max Plus II: N2,000,000 – N3,000,000 (5.0%)
A one off fee of 1%, insurance fee of 1.5% (one off charge).

2. SME Loan

AB MFB will never in anyway relent in making things easy for entrepreneurs, who are seeking financial assistance in terms of loan access.
As a financial institution that lends money to clients without having them saving money or owing an account with them, it will be more beneficial if you as a client who owns an existing business, opt in to this product. Definitely, you are likely to be given the desired loan almost immediately.

FEATURES

– For existing business, such clients can gain access to loan worth three million naira (N3,000,000) to twenty million naira (N20,000,000).

– The interest rate is competitive on a reducing balance offering with a starting point of 3% interest, on monthly basis.

– A disbursement fee of 1% is being charged for every loan disbursed.

– A uniform monthly installment is involved after the maturity period of 6 – 24 months.

– To make it flexible, any item presented as collateral is being accepted to access desired option(s).

– The effectiveness of the loan is within three (3) working days, as long as all requirements have being met.

– The amount disbursed and interest rate is based on the SME loan option applied for.

New Client: N3,000,000 – N20,000,000 (3.0% – 4.7% interest).

Repeat Client Up: N30,000,000 (2.8% – 3.8% interest).

Disbursement levy of 1% (one off payment)
Insurance charges 0.6% (one off payment).

3. Housing Loan

For entrepreneurs who wishes to own a house, the right loan option to go for is the housing loan offered by AB Microfinance bank.
However, clients who has a building or shop that is due for renovation can opt in for this type of loan.

FEATURES

– Client not under compulsion to own a savings account or make deposit before accessing the loan.

– No audited financial statement is required prior to the loan collection.

– Only flexible collateral is required.

– Uses an easy document.

– A succesessive interest rate discount is being given to long standing customers with good records.

– No borrower group is needed to access the loan, as it’s strictly based on individual who take his/her decisions.

– Loan is being disbursed within three (3) working days.

The amount and interest rate for the housing loan is given below;

Business Owners: N300,000 – N1,000,000 (4.5% interest).

Salary Earners: N1,000,000 – N3,000,000 (4.0% interest).

Charges for loan disbursement 1% (one off fee)
Insurance levy 1.5% (one off fee/charge).

Requirements For AB MFB Loan

  1. Anyone applying for a particular loan product offered by the bank must be 21 years and above.
  2. Applicant(s) must reside in Nigeria.
  3. Applicant(s) must be the rightful owner of the business used in collecting the loan, and not a third party.
  4. The business location must not be far from that of the bank.
  5. Applicants must be active in business for the past months (at least 12 months).

Loan officer of AB Microfinance Bank

All applicant are assigned to a loan officer, who will assist the client with the necessary steps to yield success in their loan pursuit from the beginning till the end.

Conclusion

So far, AB MFB has an excellent record in loan services, with a less stressful documentation for all product option.

📢 JOIN OUR WHATSAPP GROUP 📢 JOIN OUR TELEGRAM CHANNEL
Previous Post

Breaking: Buhari React to Imo Prison Break

Next Post

WAEC Result Is Out, Check WAEC Results Here

Related Posts

Nigerian Banks Resume International Transactions on Naira Debit Cards

Nigerian Banks Resume International Transactions on Naira Debit Cards

Nigerian Banks Resume International Transactions on Naira Debit Cards as FX Liquidity Improves GoldenNewsNg reports that after nearly three years...

Read moreDetails

Dollar to Naira Black Market Exchange Rate today 5th July 2025 – AbokiFX

Dollar to Naira Black Market Exchange Rate today 5th July 2025 – AbokiFX

Dollar to Naira Black Market Exchange Rate today, 5th July 2025, can be accessed below.   GoldenNewsNg has obtained the...

Read moreDetails

FG Sets Petrol Pricing Forum as Marketers Demand Transparency

Petrol Pricing Forum

FG Sets Petrol Pricing Forum for July 23–24 as Marketers Demand Transparency GoldenNewsNg reports that the Federal Government has scheduled...

Read moreDetails

Dollar to Naira Black Market Exchange Rate today 4th July 2025 – AbokiFX

Dollar to Naira Black Market Exchange Rate today 5th July 2025 – AbokiFX

Dollar to Naira Black Market Exchange Rate today, 4th July 2025, can be accessed below.   GoldenNewsNg has obtained the...

Read moreDetails

Applications Now Open for the 2025 SMEDAN-Wema Bank Capacity Building Program to Empower Youths and MSMEs

Applications Now Open for the 2025 SMEDAN-Wema Bank Capacity Building Program to Empower Youths and MSMEs

Applications are Now Open for the 2025 SMEDAN-Wema Bank Capacity Building Program to Empower Youths and MSMEs. Read details below.....

Read moreDetails

Africa Impact Fundraising (AIF) Grant Program 2025 – Up to $5,000 Matching Funds + Training Opportunities

Africa Impact Fundraising (AIF) Grant Program 2025 – Up to $5,000 Matching Funds + Training Opportunities

The Africa Impact Fundraising (AIF) Grant Program is a new initiative launched by the New Africa Fund to empower African...

Read moreDetails

Federal Govt Launches ₦50 Million Grant to Support Student Entrepreneurs

Federal Govt Launches ₦50 Million Grant to Support Student Entrepreneurs

Good News for students in business, the Federal Government has launched a ₦50 Million Grant to Support Student Entrepreneurs.  ...

Read moreDetails

Dollar to Naira Black Market Exchange Rate today 3rd July 2025 – AbokiFX

Dollar to Naira Black Market Exchange Rate today 5th July 2025 – AbokiFX

Dollar to Naira Black Market Exchange Rate today, 3rd July 2025, can be accessed below.   GoldenNewsNg has obtained the...

Read moreDetails

Federal Government Launches CNG Conversion Training for Female Mechanics in Edo State

CNG Conversion in edo state

The Federal Government has flagged off a specialized Compressed Natural Gas (CNG) conversion training programme for female mechanics in Edo...

Read moreDetails

FG Empowers 10,000 Women with ₦100,000 Inventory Loans Through CrediCorp – See How to Apply 

CrediCorp Market Women Low Interest Loan

In a bid to deepen financial inclusion within Nigeria’s informal sector, the Nigerian Consumer Credit Corporation (CrediCorp), in collaboration with...

Read moreDetails
Load More
Next Post
2022 WAEC Timetable is Out : Download WAEC Timetable 2022 PDF Here

WAEC Result Is Out, Check WAEC Results Here

SEARCH ADS

Latest Posts

FMYD Opens Registration for Data Protection Training for Youths
Headline

FMYD Opens Registration for Data Protection Training for Youths

Education

SUG Leaders tasked to join fight against Sexual, Gender Based Violence in Higher Institutions across Niger state

DESOPADEC Begins N50,000 Bursary Payouts in August
Education

DESOPADEC set to Commence N50,000 Bursary Payment

Hard Skills Mentorship Programme Empowers Young Nigerian Women
Headline

Apply Now: Soft Girl, Hard Skills Mentorship Programme Empowers Young Nigerian Women

Nigerian Banks Resume International Transactions on Naira Debit Cards
business

Nigerian Banks Resume International Transactions on Naira Debit Cards

Headline

Over 51,000 Adamawa Residents Receive ₦75,000 Each Through FG Conditional Cash Transfer Programme

Apply for FG and Amazon Web Services Digital Skills Program for Nigerians
Headline

Apply for FG and Amazon Web Services Digital Skills Program for Nigerians

Lagos State TESCOM Teachers Recruitment 2025
Headline

Apply Now: Lagos State TESCOM Teachers Recruitment 2025 | Application Portal, Requirements, and Deadline

FG Partners DBN To Provide Grants To 3MTT Nigeria Fellows
Headline

FG Partners DBN to Provide ₦100 Million Grant to 3MTT Nigeria Fellows

Dollar to Naira Black Market Exchange Rate today 5th July 2025 – AbokiFX
business

Dollar to Naira Black Market Exchange Rate today 5th July 2025 – AbokiFX

© 2024 Golden News

  • About Us
  • Advertise with Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms And Conditions
No Result
View All Result
  • Home
  • News
  • Education
  • Business
  • Jobs
  • Daily Guides
  • About Us
  • Advertise with Us

© 2024 Golden News