‘E-DEY???’ LEASE FACILITY

Features:

  • Lease value of up to N1M
  • Duly Filled Application Form
  • Customer must have account with the bank
  • Duration of facility is from 6 to 18 months
  • 30% Equity Contribution for lease facility
  • Equipment must be sourced from accredited vendors
  • Transfer fee applies
  • Monthly lease rentals on equal installments
  • Admin Fee applies
  • Interest rate of 4%
  • The leased property must be insured
  • Acceptable Guarantors may be required

Requirements

  • Duly Filled Lease facility Application Form
  • Handwritten application
  • Evidence of Cash flow
  • Cash inflow to take care of rental payments
  • Duly Filled Account KYC Form
  • 2 Recent Passport Photographs
  • Photocopy of a Valid Identity Card, National ID, Driver’s License or International Passport. (Original must be sighted).
  • Board Resolution authorizing the lease facility (in case of company)
  • Invoice from supplier with all relevant documents in support of cost

Conditions for termination of lease

  • Asset will be recovered after 2 defaults

HIRE PURCHASE

Mini Buses:

  • Cost of the bus N1,100,000.00 (Manual) and N1,050,000.00 (Automatic) (to be confirmed)
  • Account Opening N5000.00
  • Loan application fee N5000.00
  • Minimum equity contribution N300,000.00
  • Interest 4%
  • Loan Tenor 10 months.
  • Customer Does not need to run account with the bank before acquiring loan
  • Loan Repayment on a weekly basis
  • 1 civil servant guarantor, 3 cheques, acceptable ID card and 1 passport photograph
  • For business names, 2 reputable guarantors with 2 cheques each, acceptable identification, and a passport photograph each
  • For civil servants that want to borrow under this scheme either salary is domiciled with us or they give us a standing order
  • Customer does not need to pay for registration, spraying, spare tyre, MOT, and comprehensive insurance of the Mini Bus as the above stated cost prices takes care of it.

Tricycle:

  • Cost of the tricycle N675,000.00 (to confirmed)
  • Account Opening N5000.00
  • Loan application fee N5000.00
  • Minimum equity contribution N200,000.00
  • Interest 4%
  • Customer Does not need to run account with the bank before acquiring loan
  • Loan Repayment on a weekly basis
  • Loan Tenor 10 months
  • 1 civil servant guarantor, 3 cheques, acceptable ID card and 1 passport photograph
  • For business names, 2 reputable guarantors with 2 cheques each, acceptable identification, and a passport photograph each
  • For civil servants that want to borrow under this scheme either salary is domiciled with us or they give us a standing order
  • Customer to pay for registration, insurance and painting of the tricycle
  • Bank to pay for the painting of our logo on the tricycle

Conditions for termination of Hire Purchase:

  • Asset will be recovered after 2 defaults