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Nirsal Microfinance Bank Loan – How to Apply

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4 years ago

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NMFB Sends New Important Notice To All Loan Applicants

Nirsal Microfinance bank is one of the leading financial institution in Nigeria. The bank is licensed by the Central Bank of Nigeria to give out loans to the general public.

The main aim of NIRSAL is to redefine business dealings in the Agricultural sector, as well as all activities concerning the sector in Nigeria.

Also Read: 4 Key Steps of Getting a Small Business Loan Without Collateral

NIRSAL Microfinance Bank Loan

The following are loan products offered by NMFB

  • The Agric, Small Medium Enterprise Scheme (AGSMEIS): AGSMEIS loan is a Nirsal agric loan that provides up to N10 million to small and medium-scale enterprises. Businesses eligible for the AGSMEIS are those involved in creative & art industries (fashion, beauty, apparel & textile, arts & entertainment), Industrial & Manufacturing (agriculture & allied Processing, automobiles), Information & Communication Technology (telecommunication and media & publishing) and Hospitality (catering & event management). These loans are charged a single-digit interest of up to 9% per annum interest rate. They also do not require collateral security.
  • Anchor Borrowers’ Program: The Anchor borrowers’ program is an NMFB CBN loan that aims at creating and fostering a link between companies that engage in the processing sector and small-scale farmers who deal in essential Agricultural commodities. You can walk into any Nirsal Microfinance Bank branch to apply.
  • NIRSAL Microfinance Bank Access Target Account: This is a saving scheme that targets micro, small, and medium-scale enterprises, as well as individuals, looking to cultivate a healthy saving culture. It usually runs for a specific period for a particular financial purpose. Through this scheme, NIRSAL Microfinance Bank aids its customers in saving for a variety of specific reasons, such as rent, purchase of goods, purchase of equipment, or even for festivities. There is a predetermined limit put on the account, meaning they only allow a number of limited withdrawals by the account holder based on pre-agreed instructions. The Access Target account has an opening balance of ₦1,000 with a minimum balance of ₦500.
Also Read: FG Opens Fresh COVID-19 Fund Application Portal – How To Apply

How to Apply for A Nirsal Loan

The following are the required documents and credentials you must have before you can access a Nirsal loan.

  • Your letter of employment
  • Pay slip
  • Your staff ID card
  • 6 months statement of your bank account
  • Other valid means of ID like your National ID, Drivers’ licence, and so on
  • A utility bill
  • 2 passport photographs
  • A guarantor form

Nirsal Loan Review

Advantages

  • They have a wide range of loan offerings
  • Their rates are competitive

Disadvantages

  • Lots of paperwork for large amount of loans
  • You need a guarantor to access some loans
  • There is compulsory training for recipients

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25 Comments

25 Comments

  1. yasir

    April 6, 2021 at 1:25 am

    is very nice,and we appreciate this efforts by VP osinbanjo.thanks.

  2. Pingback: CBN Adds Extra 50bn For NIRSAL Loan - See How To Apply - FlippStack

  3. Madueke Nwachukwu

    June 2, 2021 at 8:31 am

    Very nice. l applied but have seen any of approval

    • Iwegbuna kelechi joy

      October 25, 2021 at 9:02 am

      It is good thanks to v. P for this wonderful work and I will be the happiest person on Earth if the loan will be given to me to start up business of my own God bless you sir

  4. Ishaku Solomon Boi

    June 5, 2021 at 9:02 pm

    I must thank you, NIRSAL MICROFINANCE Bank for enlightenment as an awaiting beneficiary of your scheme.
    May I it realized. Amen

  5. Pingback: See How To Calculate Your Loan Using NMFB Loan Calculator - FlippStack

  6. Pingback: NMFB Sends New Directive To Covid-19 TCF Loan Applicants - FlippStack

  7. Rabiu Lawal muhammad

    June 16, 2021 at 10:41 am

    I applied but no any approval .

  8. Bash Adekunle

    June 16, 2021 at 1:46 pm

    You are just keep ours waiting since my loan was approved since November last year till now no any alert

    • Alhassan safiyanu tata

      June 16, 2021 at 7:14 pm

      I need your help please

      • abel agada

        June 18, 2021 at 10:31 am

        Am devastated by Agmeis NIRSAL loan performance uptill now since one year I applied for it nothing fort coming after I’ve met all requirements by NIRSAL .Is it true the system have been hi-jacked by our so powerful politicians,senators and people at the corridor of power

  9. Ibrahim yunusa ohinoyi

    June 16, 2021 at 1:48 pm

    I have also applied for the loan but not approve since last year during luckdawn again this year.

    • Okpara Kenneth

      June 16, 2021 at 3:25 pm

      Don’t worry they will approve it, there are too many applicants. It will surely get to your turn.

  10. Muhammad Kamilu Adam

    June 16, 2021 at 2:56 pm

    I applyed since but is not response.

    • Okpara Kenneth

      June 16, 2021 at 3:21 pm

      Sorry for that. may be your loan application have not been approved. You can go to the portal and check your loan status

  11. Idris Muhammad

    June 16, 2021 at 5:57 pm

    Was I apply Since last year but I’m not got anything.then you reopened the portal, still I reapply no any results
    Than regularly was I check my bvn please help me

  12. Lawaliabdullahi

    June 16, 2021 at 11:08 pm

    How to check narsal loan?

  13. Yusif Aliyu hayatu

    June 17, 2021 at 5:44 pm

    I APPLY SINCE EARLY THIS YEAR BUT NO RESPONSE

  14. Yusif Aliyu hayatu

    June 18, 2021 at 5:05 pm

    PLEASE ACKNOWLEDGE OUR APPLICATION.

  15. Pingback: Latest Update On Nirsal Microfinance Bank Beneficiaries of AGSMEIS Scheme - 6method

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