Ecobank Nigeria Instant Loans without Collateral: How To Apply – Recruitbros

Ecobank Nigeria Instant Loans without Collateral: How To Apply

Ecobank is a leading Nigerian bank that provides a diverse range of loans to help people meet their immediate financial needs.

The unique thing about Ecobank loans is the fact that you can get up to 90% of your money. There’s no need for collateral as you can pay it back over 10 years. Besides that, you can get long and short-term loans.

Interested in getting a loan from Ecobank? Simply visit any of their branches or make use of the Ecobank Loan USSD code. Interested in getting a loan from Ecobank? Below are the requirements needed and types of loans Ecobank offers its customers.

What Are The Requirements For Getting A Loan From Ecobank?

It’s very easy to get a loan from Ecobank, but that’s only if you know the needed requirements. It’s simple once you know what you need.

Below are the requirements for an Ecobank loan:

  • Applicants must have already been banking with Ecobank for up to six months
  • Applicants must provide either a National ID card, international passport, Driving License
  • Provide a utility bill

How Can I Apply For An Ecobank Loan?

You can apply for an Ecobank loan in a variety of methods, here’s the method most useful.

  • Request a loan at any of their locations near you. You can also use the Ecobank branch locator to discover the closest Ecobank branch to your location.
  • You can access Ecobank’s banking system by dialing *326#, which is Ecobank’s immediate rapid loan code.

Types of Ecobank Loans

Here’s a variety of Ecobank loans to help you meet your financial obligations. They are:

1. Auto Loan

An auto loan is a long-term loan for individuals that desire to acquire automobiles (brand new vehicles only) of their choice for personal use. Ecobank plc offers an Auto Loan or Asset Acquisition program to their customers.

This loan will help you achieve your ambition of owning a new vehicle or generator. They organized this loan to finance up to 90% of the total cost of the asset.

2. The Ecobank Advance Facility Loan

Ecobank can assist you if you find yourself with unforeseen financial needs. This loan Advance would allow you to borrow up to 50% of your net monthly pay in a matter of days.

3. The Ecobank Cash Backed Loan

Ecobank’s Cash Backed Loan is a pre-approved, low-interest loan that will enable you to access cash without depleting your assets if you have an existing deposit or investments with them.

4. The Ecobank Mortgage Loan

An Ecobank mortgage loan is a loan for those buying a new house, renovating an existing one, or refinancing your current one. This Ecobank Mortgage Loan is a great way to get started.

5. The Ecobank Personal Loan

The Ecobank Personal Loan is a multi-purpose loan with various repayment options and the ability to access additional higher cash once you repay the loan. This is also a good option for student loans.

6. The Ecobank Salary Advance Loan

This is one of the most popular loans because it allows you to get money quickly in an emergency. Employees of an approved company can borrow up to 40% of their net monthly salary with this loan type. Consequently, it is a 30-day overdraft loan.

7. The Ecobank Travel Loan

This Travel Loan makes it easier to budget for your holiday by providing discounts on airline tickets and hotel accommodations.

How To Apply For An Ecobank Business Loan

You can apply for an Ecobank Business loan by visiting your nearest Ecobank branch. Before visiting a bank branch, you also have the option of phoning or emailing Ecobank to ask for more information.

A loan application will commonly involve speaking to an adviser and filling in an application form. In this application form, you will provide details of your business, its trading history, and its finances and you will also state the purpose of the loan.

Ecobank will make a loan decision, based on the details you provide and any other publicly available information.

If your loan offer was approved, you will be issued an offer letter. Inside this offer letter, will be a set of terms and conditions that you are required to meet before funds are disbursed.

Here’s a list of important documentation usually asked for. They include:

  • Completed application form
  • Company profile
  • Business plan
  • Cash flow budget
  • Bank statements (12 months)
  • Audited financial accounts
  • Certificate of Incorporation
  • Valid means of identification (driving license, passport, voters card)
  • Proof of address
  • Details of collateral offered (if any)

Note. Each loan product will have its own set of requirements. Therefore, Ecobank may ask you for more or less than the above.

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