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

Are you searching for a fast and convenient way to borrow money in Nigeria? You have listed every available option and are ready to cross out the ones you are less likely to explore.

For some reason, maybe higher interest rates, you have crossed out microfinance banks on your list, and now you are left with a few other options.

There is the option to take a loan from a friend, but then, you asked, “What would happen to my steeze?” In an effort to maintain maximum steeze and composure, you decided to explore the commercial bank option.

Let us introduce you to a commercial bank in Nigeria that can provide you with that urgent cash without downplaying or undermining the importance of confidentiality.

Stanbic IBTC is that bank. It offers its customers easy loan options that are easily accessible. 

Today, we will explore how to borrow money from Stanbic Bank in Nigeria. You can have your loan amount delivered to your account with just a few clicks. 

About Stanbic IBTC Bank

Stanbic IBTC Bank is one of the commercial banks in Nigeria that offers smart banking services to its customers. 

Established in 1989, Stanbic IBTC is a member of the Standard Bank Group, Africa’s largest banking group by assets. 

They boast operations in 20 African countries and over 10 countries outside the continent. 

Their services include stockbroking, assets management, mortgages, insurance, business advisory, pensions, and loans. 

This article will focus on only one of these services—loans. We will discuss how to borrow money from Stanbic IBTC Bank in Nigeria. 

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

Features of Stanbic IBTC Bank Loans

Some common features that make Stanbic loans are: 

• Some Stanbic loans, such as the Specialised Mortgage for Pension Contributors and Stanbic Home Loan, offer repayment plans of up to twenty (20) years. 
• Stanbic offered joint mortgage options. 
• Stanbic Bank has different loan options. From home loans to salary advances, mortgages, and school fees loans, Stanbic loans meet customers’ diverse financial needs. 
• You can apply for Stanbic Bank loans online, with USSD, a mobile app, or at a Stanbic Bank branch. 
• Stanbic offers guidance to customers seeking the best loan option.
• The Stanbic loan terms and repayment plans are flexible.
• Stanbic loans come with low interest rates.

Comprehensive List of Stanbic Bank Loan Types

Before we discuss how to borrow some funds from Stanbic Bank, let’s explore the categories of funds accessible to Stanbic Bank customers. 

Stanbic 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 Stanbic Bank customers: 

Loan Type	Max Loan Amount
Specialised Mortgage for Pension Contributors	Varies
Specialized Mortgage for Pension Contributors	Varies
Smart Loan	₦20 Million
Vehicle and Asset Finance	Stanbic Bank provides the exact amount invoiced by the vendor
Personal School Fees Loan (Unsecured)	Stanbic Bank provides the exact amount invoiced by the school
Salary Advance	Varies
Secured and Unsecured term loans	Varies
EZ Cash	₦7.5 Million

How to Borrow Money From Stanbic IBTC Bank in Nigeria

This section will explore how to borrow money from Stanbic IBTC Bank in Nigeria. 

Stanbic Bank currently has four ways by which customers can borrow money: 

• You can borrow money from Stanbic Bank IBTC with USSD 
• You can borrow money from Stanbic Bank using the Stanbic Mobile App
• You can borrow money from Stanbic Bank online, and
• You can borrow money from Stanbic Bank by walking into a Stanbic Bank Branch. 

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

Also read: 70 People Win Prizes in Stanbic IBTC Bank’s April Savings Draw

How to Borrow Money From Stanbic IBTC Bank With USSD 

The Stanbic Bank USSD code (*909#) 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 money from Stanbic Bank with USSD. 

Stanbic IBTC Bank has a quick loan code. You can access loans with this code, although only the EZ Cash loan. 

The code to borrow money from Stanbic Bank is *909*44#.

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

1. Dial the USSD code using the number linked to your Stanbic Account. The code to borrow money from Stanbic Bank is *909*44#.
2. Click “Continue” to approve the transaction fee.
3. Click “Request EZ Cash” on the main menu.
4. Enter the amount and source of funds.
5. Follow the next few given prompts.
6. Accept the loan terms and conditions.
7. Wait for your loan to be approved and disbursed.

How to Borrow Money From Stanbic IBTC Bank App

The Stanbic IBTC Bank app provides as much convenience as the USSD code. 

You can process all banking requests on the app, such as account openings, airtime top-ups, transfers, etc. 

You can also request EZ Cash on the Stanbic mobile app. 

This section will focus on how to borrow money from Stanbic Bank using a mobile app.

The Stanbic IBTC loan requirements to borrow money on the mobile app are as follows: 

• A Stanbic Bank account (or proceed to open one by dialing *909#) 
• Data and stable network connection
• A smartphone 

Follow the simple steps below to borrow money from the Stanbic Bank mobile app:

1. Download the Stanbic mobile app on the Google Play Store or Apple App Store.
2. Register or log in on the app.
3. Click “Request EZ Cash” on the homepage. 
4. Input your BVN, NIN, and other required information/documents. 
5. Read the terms and conditions of the loan and click “Accept” if you agree.
6. Wait for your loan request to be reviewed and disbursed. 

Also read: Stanbic USSD Code: How to Activate and Make use of it.

How to Borrow Money From Stanbic Bank Online 

Did you know you can also borrow money from Stanbic Bank online? 

Follow these simple steps to borrow money from Stanbic Bank online:

1. Visit the Stanbic Bank loans page.
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 Stanbic Bank loan terms and conditions.
5. Select your preferred loan type.
6. Click “Apply Now.” 
7. Fill out the form.
8. Submit the form with relevant documents.
9. Wait for your loan to be reviewed and approved.

You can start your application here if you’re requesting EZ Cash online. 

How to Borrow Money From Stanbic Bank in a Bank Branch 

You can borrow money from Stanbic Bank by visiting a Stanbic Bank branch close to you.

The loans you can get in a Stanbic Bank branch are: 

• Specialized Mortgage for Pension Contributors
• Vehicle and Asset Finance
• Secured term loans
• School Fees Loan
• Salary Advance
• Smart Loan
• Home loan

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

1. Visit the Stanbic loans page.
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 Stanbic Bank loan terms and conditions.
5. You can visit a Stanbic Bank branch to collect and fill out the loan application form, or you can download the form online, fill it out, and submit it at a Stanbic Bank branch.
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!

How to Create a Strong Loan Application to Borrow Money From Stanbic IBTC Bank 

Taking a loan goes beyond dialing the code to borrow money from Stanbic Bank, or filling out the application form—it is essential 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 Stanbic Bank through four channels. 

This section will reveal some key points to note while preparing your loan application.

Also read: SME Loans in Nigeria 2024

#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 needs than gambling with different loan types. 

Click here to see all the available Stanbic Bank loans. Read about them to determine how 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 Stanbic Bank loans depends on the loan type. 

However, the general Stanbic IBTC loan requirements include: 

• You must have an active Stanbic Bank account. Your account must be at least six (6) months old to access the EZ Cash loan.
• Asset Finance and other Stanbic loans require you to be a long-term staff member in a reputable organization. 
• You must have an active phone number linked to your Stanbic account.
• You must be at least 18 years of age and not older than 59.
• You must be a citizen of Nigeria or a resident.
• It would be best if you had a valid means of identification.
• You must have a Bank Verification Number (BVN).

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

#3: Collate Stanbic IBTC Loan Requirements (Paperwork)

The general Stanbic IBTC loan requirements in terms of paperwork are: 

• Proof of employment 
• Proof monthly income 
• Proof of Nigerian citizenship or residency (Valid ID)
• Bank Verification Number 
• A proforma invoice from the vendor or school for asset and school loans.

Note that this paperwork can be more or less—Stanbic IBTC loan requirements depend on the loan type. 

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

For more Stanbic IBTC loan requirements tailored to your loan option, click here.

Advantages of Stanbic IBTC Bank Loans

When customers think of Stanbic Bank loans, they think of EZ Cash first. 

EZ Cash is widely preferred because it is quick and easy to apply for, with immediate disbursement. 

Other Stanbic Bank loans also have numerous advantages. 

Some of the advantages of the Stanbic Bank loans include: 

• Stanbic loans come with low interest rates. EZ Cash, for instance, has a minimal interest rate of 2.5% – 3.% monthly. 
• The Stanbic loan terms and repayment plans are flexible and tailored to each customer’s request. 
• Stanbic Bank has different loan options. From home loans to salary advances, mortgages, and school fees loans, Stanbic loans meet customers’ diverse financial needs. 
• You can apply for Stanbic Bank loans on various channels: online, with the USSD code, on the mobile app, or at a Stanbic Bank branch. The code to borrow money from Stanbic Bank is *909*44#.
• Some Stanbic loans, such as the Specialised Mortgage for Pension Contributors and Stanbic Home Loan, offer repayment plans of up to twenty (20) years. 
• Stanbic offers joint mortgage options. 
• No collateral is required for EZ Cash, Stanbic school fees, and other Stanbic loans. 
• Quick review and approval time.

Also read: Understanding a Term Loan

Common Issues and Solutions on How to Borrow Money From Stanbic IBTC Bank

Customers often ask questions like “How do I borrow money from Stanbic IBTC Bank with the mobile app,” or “How can I borrow money from Stanbic Bank on an iPhone?” 

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

How to Borrow Money From Stanbic Bank on iPhone 

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

You can dial the code to borrow money from Stanbic Bank—*909*44#. 

Alternatively, you can borrow online. You can also use the Stanbic IBTC mobile app on the Apple App Store. 

How Do I Borrow Money From Stanbic Bank With Stanbic Loan App?

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

Follow the simple steps below to borrow money from the Stanbic Bank mobile app:

1. Download the Stanbic mobile app on the Google Play Store or Apple App Store.
2. Register or log in on the app.
3. Click “Request EZ Cash” on the homepage.
4. Input your BVN, NIN and other required information.
5. Read the terms and conditions of the loan and click “Accept” if you agree.
6. Wait for your loan request to be reviewed and disbursed.

The Stanbic Bank mobile app can also be used for other transactions—transfers, airtime and data top-ups, bill payments, and more. 

The mobile app is available on Android and IOS AppStore. 

Stanbic Bank Customer Service

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

The Stanbic IBTC Bank, customer service number, is 0700 909 909 909. You can also email them at customercarenigeria@stanbicibtc.com. 

Stanbic Bank’s customer care center is quick to respond, easy to reach, and customer-friendly. 

Frequently Asked Questions

Conclusion: EZ Loans, EZ Life 

With this guide, we hope you can confidently say you know how to borrow money from Stanbic Bank in Nigeria.  

We hope you know the code to borrow money from Stanbic Bank and other Stanbic loan channels. 

Most importantly, we hope you understand how to create a loan application that guarantees approval. 

So that’s that. Sorting out your financial strains just got EZ!

Follow us on X or Twitter, @SiliconAfriTech for more valuable information.

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References

Stanbicibtcbank.com- All-loans

Vtu.ng-ez loan by stanbic ib