Education loan is a designed strictly for the payment of children’s school (Primary and Secondary) related expenses in Nigeria only. Education loan is aimed at protecting the cash flow of clients' businesses. This loan can be accessed by a client who is a member of a group (Union).
- Facility range: N15,000 (minimum) to N40,000 (maximum)
- Methodology: Group
- Duration: 8 months
- Grace period: 1 month
- No collateral
- Access to funds for the prompt payment of children’s school related expenses.
- Flexible repayment structure
- Low interest rate
- Loan application letter
- Duly completed application form
- 2 Guarantors
- A valid means of ID (national ID, driver’s license, voter's card or international passport)
- Current utility bill
- 4 recent passport-size photographs
1. Q: Can I take education loan to finance the school fees of a child schooling abroad?
A: No. Education loan is strictly for children schooling in Nigeria.
2. Q: Does education loan cover students in higher institutions?