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NMFB Loan Calculator: How To Easily Calculate Your NMFB Loan

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Following the recent notice by Nirsal Microfinance Bank to Beneficiaries regarding repayment of their due loan, the bank has released a new notice that guides beneficiaries on how to repay their loan. NMFB Gives New Guideline On Loan Repayment Process

NMFB Loan Calculator: How To Easily Calculate Your NMFB Loan

Are you one of the Nirsal Microfinance Bank loan beneficiaries? if yes, then this article is for you as we will be walking you through how to use the NMFB Loan Calculator to calculate your loan including Covid-19 TCF, AGSMEIS, and NYIF Loan Beneficiary, so make sure to read until the end.

Before we continue, if you are one of the NMFB non-interest banking window loan applicants, you will be happy to know that the disbursement of equipment is currently ongoing, click HERE to see what to do as you wait for your vendor to deliver your equipment.

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As the Nirsal Microfinance Bank continues the approval of applicants’ loans it is advisable to know how to calculate your loan in order to know the exact amount to receive from NMFB.

You may also want to read How To Check Your NMFB COVID-19 TCF Loan Approval Status (Full Guide)

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Many applicants don’t have an idea about the exact amount which has been approved for them which has resulted in complaints by some applicants on certain deductions from their approved loans.

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Below is a simple step on how to calculate your Nirsal Microfinance Bank Loan

How To Easily Calculate Your NMFB Loan With NMFB Loan Calculator

The Nirsal Microfinance Bank provided a means for both Beneficiaries and Prospective loan Applicants to calculate their loan using the loan calculator, just follow the steps below to calculate your loan.

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For Beneficiaries:

1) Go to https://loancalculator.nmfb.com.ng/Benficiary
2) Select a product type
3) Enter your BVN to view the result or to calculate your loan.

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For Non-Beneficiaries/Prospective loan Applicants

1) Go to https://loancalculator.nmfb.com.ng/NonBenficiary
2) Enter your loan amount and the loan term ( number of years) and click calculate loan.

Your loan result will be displayed in the following format: Loan amount, total Interest, 4% upfront charge, total Interest after upfront charge, and monthly amount due.

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