NIRSAL Microfinance Bank Non-Interest Banking Portal Goes Live

NIRSAL Microfinance Bank Non-Interest Banking Portal Goes Live

Nirsal Microfinance Bank has launched a non-interest banking portal for businesses and households that have been impacted negatively by the Covid-19 pandemic.

You may also want to read How To Download Nirsal Microfinance Bank App And Get CBN Covid-19 Loan Easily

The Nirsal Microfinance Bank disclosed the launching of the non-interest banking portal on their official Instagram account, stating that it was the decision of the Central Bank of Nigeria (CBN) to extend a non-interest window to businesses and households that have been impacted negatively by the Covid-19 pandemic.

They also went further to state the criteria MSMEs need to meet before being eligible for the non-interest loan and they also made it known that the financing limit for MSMEs is N2,500,000 while Household is N1,000,000.

According to the statement on their Instagram account:

In line with the CBN’s decision to extend a non-interest window to businesses and households that have been impacted negatively by the Covid-19 pandemic, NIRSAL Microfinance Bank’s portal is now live for applicants who are eligible under this scheme to apply.

Who is eligible ?

MSME’s with 1-5 staff and verifiable evidence of business activities adversely affected as a result of the pandemic with evidence of job protection for its staff.

Hospitality businesses, health (pharmaceuticals and medical supplies) Airline service providers, manufacturing/value addition, trading, and any other income generating activities as may be prescribed by CBN and are Shari’ah compliant.

Financing limit for MSME’s is N2,500,000 while Household is N1,000,000.

Apply via our website on www.nmfb.com.ng
For further enquires, contact 09010026900.

The Non-interest banking portal is for Agric Small Medium Enterprise Scheme (AGSMEIS) and Targeted Credit Facility (TCF) loan applicants. The delay for the launch of the product was due to a systems upgrade, according to Nirsal Microfinance Bank.

You may also want to read What Applicants That Are Not Receiving Messages From NMFB Must Do

NIRSAL Microfinance Bank Non-Interest Banking Portal Goes Live