In Nigeria, and across the world, loans are inevitable.
In fact, these days, it’s becoming a necessity because it helps in resolving emergency financial issues.
Banks on the other hand are one of the safe havens for collecting loans probably as a result of the low-interest rate, and for some other reasons that may be personal to the individual who is requesting the loan.
Fidelity bank happens to be one of such respected banks that have got you covered in the aspect of financial emergencies.
In this article, I will educate you on everything you should know pertaining to collecting loans from Fidelity Bank.
You will get to find out the loan services they offer, how you can apply as well as if you can take a loan from Fidelity Bank without collateral.
Before we delve into that, let’s quickly look at a brief history of Fidelity Bank.
Article Road Map
- An Overview Of Fidelity Bank
- What Loan Services Does Fidelity Bank Offer?
- 1. Fast Loans
- 2. Fidelity Easy Asset Leasing Scheme (FEALS)
- 3. Personal Mortgage loans
- 4. Fidelity Personal Loan Scheme (F-PLS)
- 5. Instant Salary Advance Scheme
- 6. Fidelity Bank Credit Cards
- Some Frequently Asked Questions About Fidelity Bank Loans.
An Overview Of Fidelity Bank
Established in 1988, Fidelity Bank is considered to be one of the leading financial institutions in Nigeria who started off as a Merchant Bank.
It was in 1991 that Fidelity Bank became a commercial bank and in 2001, it became a Universal Bank.
This reputable bank has shown tremendous improvements over the years, little wonder why it can boast of having more than 5 million customers. As a customer of Fidelity Bank, the bank services you via its numerous branches scattered all over the space as well as digital banking platforms.
What Loan Services Does Fidelity Bank Offer?
Interestingly, Fidelity Bank has a wide range of personal loan options available for you.
Your duty is to go through these options and figure out the one that suits your need.
I have listed and explained below the different loan options that are available for you:
1. Fast Loans
From the name, you can deduce that with fast loans, you can have access to instant funding.
This loan option is primarily tailor-made for emergencies such as business financing or school fees.
Furthermore, there are six divisions of fast loans, and they are:
a. Payday Loan
This division of fast loans is known as a short-term loan that takes care of the needs of salary earners.
Nevertheless, they must have their account domiciled with Fidelity Bank.
b. Personal Loan
Just as the name implies, you can use personal loans to get funding to take care of your personal needs.
In addition to this, the processes are easy to navigate, and you must be a Fidelity bank customer before you can access it.
c. Point Of Transaction (POT) Loan
It is defined as a short-term loan made specifically for Fidelity Bank customers in a bid to help provide funding to finish their financial transactions.
The financial transactions, in this case, refer to the ones initiated on a POS or ATM but are pending as a result of insufficient funds.
d. Fidelity NYSC Loan
The NYSC loan solves the issue of giving loans to National Youth Service Corps members.
As long as you are a serving corp member, all you just need to do is to apply and get immediate funding.
e. Fidelity Loan On Account Turnover (FLOAT)
If you don’t have an active account with Fidelity Bank, then this loan isn’t for you.
That being said, you must have a current banking connection with Fidelity Bank.
f. Migo Loan
It is safe to call this type of loan a microloan, and interestingly, this loan can grant you immediate loans without any form of documentation.
All Fidelity Bank does is deposit the loan directly into your account.
2. Fidelity Easy Asset Leasing Scheme (FEALS)
If you need a loan to be able to acquire assets, then, this loan service is for you.
These assets range from laptops, cars, generators, or even households appliance.
3. Personal Mortgage loans
Just as the name implies, such loans fund your mortgage acquisition thereby enabling you to purchase your dream home.
4. Fidelity Personal Loan Scheme (F-PLS)
Fidelity Bank through this medium helps you with funding to meet pressing personal financial commitments.
Such financial commitments could be your school fees, hospital bills, travel expenses as well as your house rent.
5. Instant Salary Advance Scheme
Are you a salary earner? If yes, the Instant salary advancement scheme is for you.
Fidelity bank grants you access to half of your monthly salary as a loan before your next payday (50%) and take it back immediately after you receive your salary.
That being said, the essence of this loan is to take care of the mid-month expenses of salary earners.
6. Fidelity Bank Credit Cards
The idea behind this Fidelity Credit card is to spend now and pay in the future.
This means that with this card, you can buy whatever you want now and later pay for it.
Finally, in case you misplace your credit card, don’t fret, reach out to Fidelity Bank to lodge a complaint through this number- +23414485252 or visit the nearest Fidelity Bank.
Some Frequently Asked Questions About Fidelity Bank Loans.
1. How To Apply For A Fidelity Loan
The steps below will guide you on how you can apply for a fidelity loan:
- From the types of loans that have been explained, choose the one that best suits your need.
- Now, if you are applying for the loan online, go to the Fidelity bank mobile application to apply or you can as well use the Fidelity bank USSD code (*770*08#).
- If the loan you are applying for can’t be accessed via the USSD code or mobile application and there is no agent available to put you through, then visit their physical branch to apply.
- Finally, you will get feedback on whether your application was successful or not.
2. How Can I Get A Fidelity Fast Loan?
You can have access to a Fidelity fast loan through any of the options listed below:
- The first line action would be to dial the USSD code, *770*08#, and adhere to the instructions.
- Alternatively, you can send a text to Fidelity Bank Ivy on Whatsapp, and their official WhatsApp number is 09030000302. You will be given further instructions after this.
- Finally, you can as well use their Facebook platform to chat them up – Fidelity Bank plc
3. What Are The Requirements To Obtain A Fidelity Bank Loan?
You can’t obtain a loan from Fidelity bank if you don’t meet the requirements below:
- You have to present a receipt showing your salary for three successive months.
- You must submit a digital acceptance of the offer via Fidelity Bank electronic channels.
- You must apply for your loan via any of the Fidelity Bank digital media.
- Your credit report must be clean and you must have met Fidelity Bank’s credit ranking.
I have summarized the requirements you need to be able to access a personal loan.
You can refer to their website if you need elaborate information concerning their terms and conditions for other loan types.
4. How Can I Contact Fidelity Bank?
You can reach out to Fidelity Bank in any of the following ways:
Address: 2, Kofo Abayomi Street, Victoria Island, Lagos, Nigeria
Phone number: 0700 343 35489
Email: [email protected]
Just before I conclude, are you aware that you can compare interest rates from various lenders to get the best deal?
Yes, this is possible using a loan simulator. With this, you can see all available loan offers and this will guide you in making an informed loan decision.
You may be wondering if you can access loans from Fidelity Bank without collateral.
At the time of writing this article, there was little or no information on that, however, if you want to access a Migo loan, you don’t need collateral.
The best thing to do is to walk into any of their branches and find out if you need collateral for the type of loan you are requesting for.
In conclusion, do you need a loan? Fidelity Bank as I earlier said is reputable for giving instant and suitable loans to meet your needs.
As you can see, the services they offer cover a wide variety of loan needs, in case there is a need for you to borrow a loan, you will surely find the one that seems as though it was tailor-made for you.