Banking tips and guides

How To Get A Loan From Zenith Bank In Nigeria With or Without Collateral in 2023

If you’re interested in getting a loan either online or offline, Zenith bank got you covered with their wide range of loan offers. You may easily get a loan from Zenith bank regardless of who you are provided you can meet their requirements. Zenith bank is one among the top 3 best banks in Nigeria according to Statista and they offer loans required both collateral and non collateral. However, this article will cover how to get a loan from Zenith bank as a salary earner in Nigeria.

Note: The maximum loan amount you can get from Zenith bank is one million naira (N1,000, 000) only. But if you need a loan that goes beyond this, you may check the GT bank loan and see how to get a loan up to five million naira (N5,000, 000).

Some of the advantages that could make you want to get a loan from access may be because of the low-interest rate, flexible loan repayment, and the like.

Zenith Bank Loan Types

Zenith Bank has a wide range of offers, here I’ll be showing you three different types of Zenith bank loan types, they are classified as personal loans, small and medium-sized loans, and mortgage loans.

Out of the three mentioned above, a personal loan is the easiest to get.

 The loan types can be seen below;

1 Personal Loan- Personal loan is the easiest loan to get as a Zenith bank customer, it’s a loan type made for people to quickly meet their basic financial needs, e.g the payment of children’s school fees, hospital bills, house rent and other basic expenses.

  1. Business Loan- Another Zenith bank loan type is the “Business Loan”, this loan is available for customers who need money either to start a business or boost their business growth.
  1. Mortgage Loans- This loan is for those who are working on construction projects and need money either to start or complete.

Zenith Bank Loan Eligibility & Requirements

Knowing the requirements ahead is ideal because it will enable you to get yourself prepared before it is tabled before you.

Just like every other commercial bank in Nigeria, each of them has its loan requirements which are deemed important for anyone to meet before getting a loan.

Once all these requirements are met and your loan is approved, you will get your loan disbursement within 24 hours, sometimes, it takes longer than usual.

What are the Zenith Bank Loan Eligibility Requirements?

  1. You must be at least 18 years of age and less than 60 years old
  2. You must be earning nothing less than N10,000 monthly as income or salary
  3. You mustn’t have any outstanding loans with Zenith or other banks
  4. You must be willing to repay in time (on or before the due date).
  5. Must have a means of identification
How to get a loan from Zenith bank
How to get a loan from Zenith bank

What Is Zenith Bank Loan Interest Rate

Another thing that is important to know in this article- how to get a loan from Zenith bank is the loan interest rate.

You shouldn’t just agree they offered low interest rates and remain on the dark side, it’s compulsory that you know it before taking the decision to borrow money from Zenith bank and even from other banks in Nigeria.

Zenith bank Nigeria offers up to 60% of the borrower’s salary at an interest rate of just 5% or less. This kind of loan requires no collateral.

Although the main purpose of being here is to learn how to get a loan from Zenith PLC, it’s crucial you don’t have half-baked knowledge of everything that surrounds it. So, below is how to get a loan from Zenith bank guidelines.

How To Get A Loan From Zenith Bank

Kindly follow the given steps and guidelines provided here to successfully borrow money from Zenith.

Open Zenith Bank Account

The very first step anyone who needs to get a loan from Zenith bank must take is to open an account with them, to do this, you can download the Zenith app from any reputable app downloading store and open an account. 

Better still, you should go directly to the bank where you will open an account and request a loan. Also, you can get in touch with the bank via ((234-1-2787000) and request a loan.

Note: You must be ready to meet their requirements as stated in the Zenith eligibility and requirements above.

Related Post How To Get A Loan From Access Bank In Nigeria

If you have an account with Zenith already, you can quickly get a loan from them using their USSD code which is *966#, ensure you follow the prompts and they will successfully get your loan credited into your Zenith account before 24 hours.

Zenith Bank Loan Repayment

The Zenith bank of Nigeria offers their customers flexible loan repayment, if your loan is to be paid on monthly basis, you must ensure your account is adequately founded so that they can automatically deduct the money.

Frequently Asked Questions (FAQs) On How To Get A Loan From Zenith Bank

Below are some of the questions people also ask regarding how to get a loan from Zenith:

What will happen if I happen not to pay at the due time?

The consequences of not repaying at the due time are included in their terms and conditions. However, most loans that aren’t repaid at the due time usually incur an extra interest rate.

How long does it take to get a loan from Zenith bank?

It usually takes less than 24 hours, but I’m some cases it may take longer. However, if it’s getting longer than expected, you need to get in touch with the bank fast.

What is the Zenith bank USSD code to borrow money?

Simply dial *966*00# then follow the prompts.

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