Access Bank PLC is a Nigerian multinational bank owned by Access Bank Group that is licensed by the Central Bank of Nigeria, the national banking regulator. Formerly a corporate bank, the organization acquired personal and business banking platforms from Nigeria’s International Commercial bank 9 years ago.
Right now, the financial institution is one of the 5 largest banks in Nigeria when it comes to assets, loans, deposits and branch network. When Access Bank merged with Diamond Bank 2 years ago, the bank launched its new logo, which stood for the start of a broader banking entity. The bank’s headquarters is located in the city of Lagos, and its customers keep increasing on a daily basis.
Access Bank Nigeria Plc recently announced its plans to offer N50B interest-free credit facility to individuals and businesses in Nigeria, and people have been asking how they can take advantage of his opportunity by applying. Not to worry, this tutorial will break everything down for your easy understanding. We’ll tell you how you can easily apply for the loan and all you’ll need to know about the loan you will be applying for.
The financial institution announced the fifty billion naira loan to support Nigerians via interest-free loans, grants to support communities, the youths, micro, small and medium-sized businesses via their official LinkedIn page and this has surely raised the eyebrows of citizens, especially during the coronavirus pandemic.
As you already know, the pandemic and the recent #EndSARS protests across the country led to the looting of several businesses and destruction of company properties, therefore a loan to recover all that is lost will not be a bad idea. Let’s help you to achieve that by showing you How To Apply For Access Bank N50B Loan In 2021:
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How Can I Apply For The Access Bank 50B Loan?
Before an application for this loan, here are a few things you need to understand:
- The collection of applications from customers has started already.
- It is an interest-free loan as well as a grant.
- The loan is meant for customers of the financial institution across its MSME business, commercial banking customers, as well as corporate banking customers affected by the looting and arson in different parts of Nigeria.
- It has a maximum tenor of 2 years for access finance, and 1 year for the working capital.
- The repayment structure is quite flexible, and it will suit the lendee’s cash flow. The term facility would also have a moratorium period of 6 months. Repayment would then be structured following the customers’ own cash flow cycle, and they are both interest-free.
- The Grant is divided into 2, one is your development, and the other is for community development.
- Youth empowerment is in 2 parts. One segment of the grant focuses on aiding the tech industry, while another concentrates on skill development. Skills targeted like tailoring, barbing, mechanics, and so on.
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Just head to any Access Bank branch nationwide and you’ll be directed in detail on all that is required to start your application.
That is that.