In these challenging times, many entrepreneurs find themselves facing tough financial decisions due to the impact on their businesses. To restore balance and sustain their operations, accessing loans from reputable financial institutions becomes crucial. This write-up aims to assist the average Nigerian entrepreneur in understanding the process of obtaining a loan from Zenith Bank using the Zenith bank loan code.
Nigeria has faced economic depression, exacerbated by the recent covid-19 pandemic and ensuing financial hardships. The country went through a period of lockdown, posing significant challenges for businesses and individuals alike.
Zenith Bank is one of the few banks that made it through the last century and is still standing strong, since 1990, the bank has been in business, providing financial services while helping many Nigerian businesses thrive in a very uncertain economy.
Let’s get down to how to get a loan from Zenith Bank.
What kinds of loans does Zenith Bank offer?
Zenith Bank provides a range of loan options catering to diverse customer needs, including Small and Medium-scale Enterprises (SMEs) Loans, Mortgage loans, and Personal loans. They include:
1. The Z-woman Business package loans for SMEs
This loan option is available for female small business owners who need a financial boost. The loan is a single-digit loan platform fit for all business sectors.
Sectors of the workforce this loan is targeted at include: Beauty and style, agriculture, fitness, food and confectionery and many more.
2. The Retail Loans for Schemes and Non-schemes
This loan basically follows the salary advance format. It gives you a revolving credit with a clean-up cycle of up to 60% of your net monthly income.
The loan is channelled at meeting the short-term financial needs of customers. The loan further entails the following subsets:
This loan helps them expand their business, giving them access to working capital, raw material purchase and infrastructure upgrade.
- Personal needs financing with Personal/Customer loans.
- Acquisition of Vehicles and Houses through the Asset Acquisition/Car Loan.
- Getting your dream house with ease through their specially designed Mortgage.
3. Loans under the Creative Industry Financing Initiative (CIFI)
This loan is channelled at enhancing job creation in Nigeria amongst the youth, a brainchild of the Central Bank of Nigeria (CBN) and the Banker’s Committee, this loan takes care of business under Information, Technology, Software Engineering Student loan, Movie Production and Distribution, Music Production and distribution and so much more.
4. Loans for Education
For parents who want to enrich their child’s life educationally, Zenith Bank offers the Education Loan scheme to help these youngsters become the leaders of tomorrow. The loan provides short-term funding to enable parents to pay the tuition fees of their children.
There are a host of other loans provided by the bank to fit lots of financial needs. All you have to do is visit a Zenith Bank branch for more information or call their customer care number on 01 278 7000
What makes me eligible to get a loan from Zenith Bank?
To get a loan from Zenith Bank, you must
- Be a customer of Zenith Bank as loan offers are usually meant for their customers.
- You must also be at least 18 years of age and not more than 60 years old. This shows that you’re legally required and old enough to join the workforce.
- You also should earn nothing less than N10,000 as your monthly salary.
- Additionally, you must ensure that you do not have any pre-existing loans with any bank or financial institution to qualify to get a loan from Zenith Bank.
Once you meet these stipulated conditions, you can now proceed to request for a loan traditionally or using the Zenith Bank loan code.
How much money can I get a loan from Zenith Bank Loan Code?
Zenith Bank is open to giving out loans with the minimum amount being between N10,000 (ten thousand Naira) to N100,000 (one hundred thousand Naira).
The maximum loan offer comes between N50,000,000 (fifty million Naira) to N500,000,000 (five hundred million Naira). This loan margin covers everything from salary advances to large business loans.
What is the USSD code to borrow a loan from Zenith Bank?
The code to borrow money from Zenith Bank is *966#. This is the code the Bank uses for all banking transactions on mobile platforms like your phone or tab. You can get a loan from Zenith Bank from the comfort of your home, and through your fingertips using their bank USSD code.
Essentially, the Zenith bank USSD loan code is a very easy alternative as regarding how to get a Loan from Zenith Bank. Additionally, this code gives you the option of a salary advance loan.
How to get a loan from Zenith Bank using USSD loan code
Follow the steps below to get a loan from Zenith bank using USSD loan code:
- First of all, dial *966*00# on your mobile phone.
- After sending the code, you will see a prompt asking you to input the last four digits of your ATM card number.
- Your account name will be displayed and other details showing the authenticity of your card details.
- You will then be requested to create a four-digit pin on the next screen.
- Once that is done, confirm your pin and sail your way into a Zenith Bank loan.
What are the terms for repaying a loan from Zenith Bank?
The terms of repayment for Zenith Bank loans depend on the type of loan you opt for and the agreement reached by you and the bank in the contract. Fortunately, the repayment of loans with the bank is designed to be easy and convenient and is agreed upon during the application stage of the loan.
Finally
So, whenever you are in need of cash and you decide that you need financial help, visit your nearest Zenith Bank Branch and help yourself to these loans that will help bring you and your desires back to speed. You can contact Zenith Bank by dialling: 01 278 7000, sending an email to zenithdirect@zenithbank.com or visiting their official website at https://www.zenithbank.com.
