Features & Benefits
N6million to N20million
||Maximum of 36 Months
Interest will be serviced monthly while principal can be repaid monthly, quarterly, semi-annually, annually or at specified months in a year subject to income cash flow.
Monthly repayment shall not exceed 33.3% of net monthly salary.
An all purpose loan for you to meet your financial needs with a convenient repayment plan.
- Completed Application Form
- Employer Undertaking Form
Frequently asked questions on MaxPlus
1.Q: What is MaxPlus
A: MaxPlus is a product that is designed to facilitate personal loans to staff of corporate organizations and public sector employees.
2.Q: What type of loan is MaxPlus?
A: Time/term loan
3.Q: What is the minimum tenor?
A: No minimum tenor
4.Q: What is the maximum loan amount?
A: The maximum amount for a MaxPlus loan is N20million.
5.Q: Is there a minimum salary band to qualify for MaxPlus?
A: Yes, minimum net annual income of N10million
6.Q: What is the minimum tenor?
A: 3 months
7.Q: What is the maximum tenor?
A: 36 Months
8.Q: What is the mode of repayment?
A: Repayment shall not exceed 33% based on any of the under listed repayment option
i. Equal monthly repayment of principal and interest.
ii. Monthly interest and principal (annually, bi-annual or quarterly)
iii. Specific months as determined by applicants’ income cash flow.
9.Q: Who is our target audience?
A: Personal banking individual who is a staff of approved private and public organizations with a minimum net annual income of N10million, whose salary accounts are domiciled with the Bank.
10.Q: What is the turnaround time for disbursement?
A: The turnaround time for disbursements of funds is 48 hours from receipt of completed documents.
11.Q: Is the customer required to make any contribution?
A: MaxPlus is a personal loan that requires no equity contribution.
12.Q: What documents are required under MaxPlus?
A: The documents required from the customer are Application form and Employer Undertaking to domicile salary.
13.Q: Do I need to define the purpose of the loan?
A: No, MaxPlus can be used for any purpose.