The Central Bank of Nigeria (CBN) with NIRSAL has created a website for Nigerians to apply for NIRSAL Non Interest Loan Household.
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Apply for Nirsal Interest Free Loan
In accordance of the decision taken by CBN of extending the non-interest window to companies as well as households adversely affected due to Covid 19’s Covid 19 pandemic, NIRSAL Microfinance Bank’s online portal is open to applicants who meet the criteria of this program to apply.
Who is Eligible for Nirsal Loan?
1. MSME with 1-5 staff and evidence of activities that were negatively affected due to the pandemic, as well as evidence of protection of jobs for staff.
2. Hospitality-related businesses as well as medical (pharmaceuticals and medical equipment) Service providers for airliners, manufacturing/value-addition trading, and all other activities that generate income as can be regulated by the CBN or are Shari’ah conforming.
The limit on financing MSME’s is N2,500,000 whereas household is N1,000,000.
The other NMFB or the agent you are appointed by NMFB will then be appointed to accept delivery of the assets. After the delivery is complete you will then be legally bound to sign the Murabahah agreement in the final phase in the agreement.
STEP 1: APPLICATION STATUS
Select whether you are a RETURNING or NEW applicant?
Make sure to save and copy your Application Reference Number (in this format like TCFNI1234567).
Step 2: BVN Details
Input your BVN and click “Validate BVN” and confirm your information.
Step 3: Applicant’s Details
Once you’ve validated your BVN Check the information on the screen to make sure everything is in order, then press “Next”.
Step 4:Biodata Information
Enter PROMOTER Information (your biodata) including: email address, phone number, address, the state of your residence.
Step 5: Financing Information
Select the function of your facility’s use. Choose the only (1) reason *
to purchase equipment or an asset to be used at home To acquire equipment or an asset to expand the business Step 6:DECLARATION
Choose how you learned about TCF, and then click SUBMIT. TCF application, then click the box that says “I hereby declare that the information provided is true and correct”. After that, click SUBMIT.
If your application was successful, then you’ll receive the following message:
“TCF-NI CREDIT APPLICATION (HOUSEHOLDS)
“Non-Interest TCF Household Application was successfully verified and approved. Thank you for submitting your application for the TCF-NI Household Facility. This application is reviewed then you’ll be informed about how your application is progressing.”
How to Apply|NON-INTEREST TCF FACILITY APPLICATION Visit https://nibloans.nmfb.com.ng/nmfbloanapplicationportal Select Non-Interest Facilities Select Non-interest TCF Click here to continue Select APPLY FOR HOUSEHOLDS FACILITY (NON-INTEREST) Companies and households can apply on the Nirsal MFB website on www.nmfb.com.ng for households or businesses:
Mr Olawale Olokede is a registered loan officer and worked for over 10 years as a senior financial consultant for accounting, finance and business management firms in Nigeria. Mr Olawale Olokede implemented and supervised financial and loan solution to Lagos based small and medium scale businesses after lecturing at the Lagos Business school. He is channeled his writing skills and passion for blogging to set up Lending Naija with over 50 reviews on different loan application and downloads.