How to Borrow Money from Fidelity Bank in Nigeria | A Step-by-Step Guide

Let’s say you never have to be cash-stranded again. 

Yes, at this point, we can confidently say that. 

Commercial and microfinance banks in Nigeria now make loans easily accessible to customers.

Fidelity is one of such banks. They provide diverse loan options to their customers, with easy accessibility. 

Today, we will explore how to borrow money from Fidelity Bank in Nigeria. 

Whether you are a business owner or just a family trying to get by, there’s a loan available for you at Fidelity Bank.

About Fidelity Bank Plc

Founded in 1988, Fidelity Bank is a commercial bank in Nigeria with over 7 million customers.

With 250 business offices across Nigeria, Fidelity Bank provides various financial services to customers. 

Fidelity Bank is also incorporating digital services into its operations. With a mobile app and USSD code, Fidelity Bank makes it easier for customers to bank on the go. 

Fidelity Bank offers loans to customers who need them. Their loan options favour entrepreneurs, students, families, and more. 

Also read: Afreximbank Supports Fidelity Bank’s Expansion into UK with $40m

Features of Fidelity Bank Loans

Some common features that make Fidelity loans are: 

• Customers can apply for Fidelity Bank loans online, with USSD or at a Fidelity Bank branch. 
• Fidelity has several options to meet the diverse financial needs of customers.
• Fidelity Bank offers special loans to business owners. 
• Fidelity loans come with long repayment terms.

Comprehensive List of Fidelity Bank Loan Types

Fidelity Bank has different loan options for customers to choose from.

Each loan type is designed to meet specific financial needs. 

Below are the loan options available to Fidelity  Bank customers: 

Loan Type	Max Loan Amount
Personal Loan	₦5 Million
Payday Loan	₦500,000
NYSC Loan	₦100,000
Fidelity Loan on Account Turnover	₦100,000

Some other Fidelity Bank loans include: 

• Fidelity Easy Access Leasing Scheme
• Instant Salary Advance Scheme 
• SME Loans and Advances
• Fidelity Credit Cards 
• Personal Mortgage 

Also read: Shareholders Support Fidelity Bank’s Plan to Increase Funding

How to Borrow Money From Fidelity Bank in Nigeria

This section will explore how to borrow funds from Fidelity Bank in Nigeria. 

Fidelity Bank currently has three ways by which customers can borrow money: 

• You can borrow money from Fidelity Bank with USSD 
• You can borrow money from Fidelity Bank by using the ChatBot, IVY 
• You can borrow money from Fidelity Bank by walking into a Fidelity Bank Branch. 

These three ways are easily accessible any day, anytime. Let’s explore them in detail.  

How to Borrow Money From Fidelity Bank With USSD 

The Fidelity Bank USSD code (*770#) makes it easy for customers to bank on the go. 

You can buy airtime with the code, buy data, transfer funds, pay bills, and more with the code. 

This section will focus on how to borrow funds from Fidelity Bank with USSD. 

The Fidelity loans available on USSD are: 

• Fidelity Loan on Account Turnover
• Payday Loan
• NYSC Loan

Follow the simple steps below to borrow money from Fidelity Bank with USSD: 

1. Dial the code using the number linked to your Fidelity account. The code to borrow money from Fidelity Bank is *770*08#.
2. The command will display the amount you are eligible for.
3. Click “Accept”.
4. Follow the next few given prompts.
5. Submit relevant documents.
6. Wait for your loan to be approved and disbursed.

Also read: How to Borrow Money from GTBank Using USSD Code | A Step-by-Step Guide

How to Borrow Money From Fidelity Bank Using IVY

IVY is Fidelity Bank’s WhatsApp ChatBot. 

She can attend to all your banking transactions such as account opening, airtime top-ups, transfers, etc. 

IVY can also attend to your loan requests. This section will focus on how to borrow funds from Fidelity Bank by chatting with IVY.

The essentials you need for this method are: 

• A Fidelity Bank account (or proceed to open one) 
• A smartphone to access WhatsApp 
• Data and stable network connection 

Follow the simple steps below to borrow money from Fidelity Bank using IVY: 

1. Save IVY’s number—09030000302.
2. Say hello to IVY.
3. Select “I – Loan Facility” from the list of options.
4. IVY will send you links to review the Fidelity Bank Loan Terms and Conditions, Privacy Policy, and Data Protection Policy—Choose A to accept.
5. Wait for IVY to run a check to get your account number.
6. If you do not have an account with Fidelity Bank, IVY will give you the option to open an account or terminate the transaction—choose A to open the account. IVY will share the available loan options if you already have an account. 
7. Follow the instructions to proceed with your loan application or the account opening. 
8. Ensure to submit all relevant documents
9. Wait for your loan to be reviewed and disbursed. 

How to Borrow Money From Fidelity Bank in a Fidelity Bank Branch 

You can borrow money from Fidelity Bank anytime by visiting a Fidelity Bank branch. 

The loan options you can get in a Fidelity Bank branch are: 

• Fidelity Easy Asset Leasing Scheme
• Instant Salary Advance Scheme
• Fidelity Small Lease Finance
• Specialised MSME Loans 
• Fidelity Credit Cards  
• SME Quick Loans
• Personal Mortgage 

Follow the steps below to borrow money from Fidelity Bank by walking into a Fidelity Bank branch: 

1. Visit the Fidelity loans page—for personal loans, click here. To access the Fidelity Bank loan for business, click here.
2. Read about the loans and choose the most suitable for your financial needs.
3. Read the eligibility criteria to verify that you are qualified. 
4. Read the Fidelity Bank loan terms and conditions.
5. You can complete the loan request form online or by visiting a Fidelity Bank branch to collect and complete the loan application form.
6. For better chances of securing your loan, liaise with your account manager.
7. Wait for the loan review and approval.
8. Submit the required paperwork.
9. Sign the loan agreement.
10. Enjoy your loan!

Also read: 12+ Small Business Loans for Startups and How to Get Them in 2024

How to Create a Strong Loan Application to Borrow Money From Fidelity Bank 

Taking a loan goes beyond dialing the code to borrow money from Fidelity Bank, or filling out the application form—it is important to understand how to strengthen your application. 

Preparing well and understanding how to respond to the application questions will increase your chances of securing the loan. 

In the previous section, we revealed how to borrow money from Fidelity Bank using the three available channels. 

Now, let’s dive into some key points to note while preparing your loan application.

#1: Choose the Most Suitable Loan Option 

Understand your financial need and the best loan service to meet that need. 

It is better to apply for a loan targeted to your need, than gambling with different loan types. 

To access all the Fidelity Bank personal loans, click here. To access the Fidelity Bank loan for business, click here.

Read about them thoroughly to determine how best to frame your application. 

#2: Check Your Eligibility 

It is important to check your eligibility before you begin the loan application process. 

The eligibility for Fidelity  Bank loans depends on the loan type. 

However, the general requirements include: 

• You must be a citizen of Nigeria or a resident
• You must have a valid means of identification
• You must have an active Fidelity Bank Account
• You must have an active phone number linked to your Fidelity account 
• You must have a Bank Verification Number (BVN).
• You must be at least 18 years of age.

To get the specific criteria for each loan type, visit the Fidelity Bank loans page and check the eligibility. 

#3: Gather Relevant Documents to Borrow Money From Fidelity Bank 

The paperwork for Fidelity Bank loans also depends on the loan type. However, the general requirements are: 

• Proof of monthly income 
• Proof of Nigerian citizenship or residency (Valid ID)
• Bank Verification Number 

You should also have an active phone number and email address, linked to your Fidelity Bank account. 

Also read: TAJ Bank USSD Code for Airtime, Transfer, & Mobile Banking

Fidelity Bank Loan For Business 

Fidelity Bank offers special loans for entrepreneurs in Nigeria. 

The Fidelity Bank loan for business meets the needs of pharmacists, school owners, traders, etc. 

Some of these Fidelity Bank business loans include: 

• Development Finance and Intervention Funds 
• Fidelity Private Medical Support Scheme
•  Fidelity Pharmacy Support Facility
• Commercial Support Short-term Loan
• Commercial Support Overdraft 
• Fidelity Small Lease Finance
• Traders Support Facility 
• Fidelity EduLoan

To see more loans for your business, visit the Fidelity SME Loans page. 

The loan requirements for each of these loans differ. However, some of the essential requirements are: 

• Your business must have an account with any bank in Nigeria, active for at least three (3) months.
• Your business must be registered with the appropriate regulatory body.
• You must write a formal loan request letter to the bank. 

Advantages of Fidelity  Bank Loans 

Some of the advantages of the Fidelity  Bank loans include: 

• Different loan types to suit different purposes 
• Direct contact with your relationship manager for guidance 
• No documentation is required for Fidelity Quick Loans
• Pre-liquidation is allowed without extra charges
• Low interest rate, particularly for NYSC Loans
• Quick review and approval time
• Flexible repayment terms 
• Long repayment tenors 

Common Issues and Solutions on How to Borrow Money From Fidelity Bank

Customers often ask questions like “Can I borrow money from Fidelity Bank with the Fidelity mobile app?” or “How can I borrow money from Fidelity Bank on an iPhone?” 

In this section, we will address those common challenges that Nigerians usually face while trying to borrow money from Fidelity Bank:

How to Borrow Money From Fidelity  Bank on iPhone 

The process to borrow money from Fidelity Bank on iPhone is the same as on Android. 

You can dial the code to borrow money from Fidelity Bank—*770*08#. Alternatively, you can chat with the Fidelity Bank WhatsApp ChatBot on 09030000302.

Can I Borrow Money From Fidelity Bank With Fidelity Loan App?

Customers often ask how to borrow money from Fidelity Bank through mobile app. 

Currently, Fidelity Bank does not offer loans through mobile app. 

The Fidelity Bank mobile App can also be used for other transactions, such as transfers, airtime and data top-ups, bill payments, and more. 

The mobile app is available on Android and IOS App Store. 

To borrow money from Fidelity Bank, you can: 

1. Dial the code to borrow money from Fidelity Bank—*770*08#
2. Chat with IVY on 09030000302, or 
3. Visit a Fidelity Bank branch.

Fidelity Bank Customer Service

You can contact Fidelity Bank’s customer service if you encounter any challenges during your loan application process.

Their customer care centre, Fidelity TrueServe, is responsive and easy to reach. 

The Fidelity Bank customer service number is +234 (0) 700 3433 5489. You can also send them an email at true.serve@fidelitybank.ng.

Frequently Asked Questions

Conclusion: Clear Out Your Financial Needs with Fidelity Loans

Now that you know how to borrow money from Fidelity Bank in Nigeria, you no longer need to be cash-stranded. 

Fidelity loans are diverse and easy to access. You can use the code to borrow money from Fidelity Bank. You can borrow money from Fidelity Bank using IVY, the Fidelity WhatsApp ChatBot. Finally, you apply for your loan directly in a Fidelity Bank branch. 

So sort out all your financial inconveniences with Fidelity Bank loans, repay on time and keep a good credit history. 

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Reference 

www.fidelitybank.ng – Personal Loans 

www.fidelitybank.ng – SME Loans And Advances