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Have you ever tried to borrow money from friends?
While good friends are always willing to assist, it may inconvenience them.
This is where banks and other financial institutions come in.
Most commercial and Microfinance banks in Nigeria offer different loan options to customers.
Today, we will discuss how to borrow money from Zenith Bank in Nigeria.
So get rid of your financial worries—let’s discuss how to solve them.
Zenith Bank Plc was established in May 1990 by Jim Ovia CFR.
It has over 300 branches across Nigeria, with subsidiaries in Gambia, Ghana, and Sierra Leone.
Zenith Bank ranks as the 10th biggest bank in Africa, serving the financial needs of Africans excellently.
Zenith Bank provides several loan offerings to customers, such as term loans, educational loans, MSME loans, etc.
Also read: Zenith Bank, First Bank, and UBA Join Zone’s Decentralized Payment Network
Some common features that make Zenith loans are:
Zenith 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 Zenith Bank customers:
Loan Type | Max Loan Amount | Advantages |
Z Woman Loan | ₦10 Million | For female entrepreneurs with at least 50% shareholding, up to 24 months repayment term |
MSME Loans | ₦2 Million | Up to 12 months repayment term |
Education loan | ₦5 Million | Up to 9 months repayment term |
Some other Zenith Bank loans include:
Also read: Zenith Bank USSD Code for Airtime, Transfer, & Mobile Banking
This section will explore how to borrow money from Zenith Bank in Nigeria.
Although Zenith Bank has no digital loan options, borrowing money from the bank is still a walk-through.
Follow the steps below to borrow money from Zenith Bank in Nigeria:
Would you like to know how to borrow money from Zenith Bank with a strong loan application? Then keep reading.
The following section will explore the details that strengthen your loan application.
A strong loan application is crucial because it increases the chances of your loan being approved. So let’s discuss.
Taking a loan goes beyond filling the application form; it is important to understand the entire process.
Preparing well and understanding how to respond to the application questions will greatly boost your chances of securing the loan.
In the previous section, we revealed how to borrow money from Zenith Bank in Nigeria. Those were just the simple steps.
Now, let’s dive into the main step-by-step guide. We will fully explore how to borrow money from Zenith Bank—from preparation to submission.
Also read: Zenith Bank’s Fintech Subsidiary Zenpay Partners AfCFTA on Innovative Trade Portal
The first step is to 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.
The good thing about Zenith Bank is that they have a loan to meet almost every need.
If you’re looking to fund your Education, Zenith Bank has a loan. If you’re an entrepreneur, Zenith Bank has a loan for you. And even if you’re a senior citizen, Zenith Bank didn’t forget you.
Click here to see all the available Zenith Bank loans. Read about them to determine how to frame a strong application.
It is important to check your eligibility before you begin the loan application process.
The eligibility for Zenith Bank loans depend on the loan type.
However, the general requirements include:
To get the specific criteria for each loan type, visit the Zenith loans page and check the eligibility.
This step should not be taken lightly. Customers who do not meet the eligibility requirements for a Zenith Bank loan are instantly disqualified.
If you wish to apply for the Z Woman loan for instance, you should note that you need to have up to 50% shareholding in an active company to qualify.
Don’t feel bad if you do not qualify for the loan you have in mind—there are usually alternatives.
For instance, instead of the Z Woman loan, you can apply for an MSME loan if you do not have a 50% shareholding in any company as required for Z Woman.
Customers often ask how to borrow money from Zenith Bank in Nigeria without paperwork.
Paperwork is a great deal for Zenith Bank loans and thus should be attended to meticulously.
The paperwork for Zenith Bank loans also depends on the loan type. However, the general requirements are:
You should also have an active phone number and email address linked to your Zenith Bank account.
Also read: Zenith Bank Loan for Salary Earners
Next, visit a Zenith Bank branch close to you and:
Complete the loan application, filling in each detail confidently. State the details of what you need the loan for.
If you speak with your relationship manager, he/she will adequately explain how to borrow money from Zenith Bank.
Submit the loan application form and wait for your loan to be reviewed. This should take a few working days.
If your loan is approved, you will need to sign the offer letter from Zenith, which contains the terms and obligations of the loan.
The money will then be transferred to your account. However, if the loan is for a specific purpose, such as education or asset acquisition, the loan amount will be transferred to the third party.
If you encounter challenges during your loan application, call Zenith customer care at 234-1-2787000. You can also email them at agentbanking@zenithbank.com.
Customers often ask how to borrow money from Zenith Bank through the mobile app.
Currently, Zenith Bank does not offer loans through mobile app.
The Zenith Bank mobile App can be used for other transactions—transfers, airtime and data top-ups, bill payments, and more.
The mobile app is available on Android and IOS, on the Google Play and Apple AppStore.
To borrow money from Zenith Bank, you must visit a Zenith Bank branch.
Some of the advantages of the Zenith Bank loans include:
Here are solutions to some common challenges that Nigerians usually face while trying to borrow money from Zenith Bank:
You may be wondering why we have not discussed how to borrow money from Zenith Bank by phone.
There is currently no way to borrow money from Zenith Bank through phone.
Zenith Bank loans are inaccessible through USSD or mobile app.
You can apply for a Zenith Bank loan at any Zenith Bank branch close to you.
You can borrow money from Zenith bank if your salary account is domiciled with the bank.
There are various loan options available to Zenith Bank salary account holders.
Some of the loans you can apply for include:
For the complete list of loans available to Zenith Bank salary account holders, visit here.
The loan requirements for each of these loans differ. However, the general requirements include:
The repayment term for Zenith Bank loans can be up to 48 months. It is determined by the loan amount and type.
Also read: Update on Zenith Bank Virtual Card: How to Get Yours, Features and Requirements
Currently, Zenith Bank mobile app does not offer loans.
There are currently no Zenith Bank loans accessible to non-salary holders.
Zenith Bank account holders can borrow money from Zenith Bank.
So there you have it.
Now you can confidently say you know how to borrow money from Zenith Bank in Nigeria.
You can also respond confidently when your friends ask; “How can I borrow money from Zenith Bank with a strong application?”
So go sort out all your financial inconveniences with Zenith Bank loans.
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www.zenithbank.com – Loans