SALARY ADVANCE LOAN
Ultimate Microfinance Bank offers a Salary Advance Loan that provides quick access to funds based on an individual's expected salary. This financial solution is designed to help bridge the gap between financial obligations and the timing of income receipt.The loan is available to all staff members of an organization with a fixed salary date, ensuring that employees can meet their financial commitments without delay. Whether it's for an unexpected expense or to manage cash flow,our salary advance loan can offer the support you need to maintain financial stability.
Required Documentations:
✓ Statement of account (6 months).
✓ Letter of confirmation of appointment/employment.
✓ Direct debit will be placed on the customer's account / undated cheque.
✓ Tenor between 3-6 months.
✓ 2 Guarantor
✓ Management Fee 1%, Insurance Fee 1%.
✓ Execution of dud cheque indemnity form.
✓ Current utility bill
✓ A valid means of ID (national ID, driver's license, voter's card or international ....passport)
✓ And any other document that might be requested for by Ultimate MFB
Note: Kindly note that all applications undergo an on-site assessment by one of our lending staff prior to a committee decision.
Target Market: Individual
Coverage: Lagos and neighbouring towns in Ogun State.
PUBLIC SECTOR LOAN
The Ultimate Public Sector Personal Loan is designed specifically for civil servants at the Federal level and in Lagos State. This loan facilitates access to personal finances through a payroll lending system. This loan is an excellent option for civil servants seeking quick and efficient access to personal loans without the complexities often associated with traditional lending methods
Key features of the loan include:
✓ Repayments are deducted directly from the borrower's salary at the source.
✓ Federal employees must provide their IPPIS number for verification.
✓ Lagos State employees must provide their Oracle number, which will also be ....verified.
✓ Monthly loan repayments are capped at a maximum of one-third of the borrower’s ....monthly salary.
Product features:
✓ No personal Guarantor is required for this loan
✓ Client must be a Civil Servant under Lagos State or Federal Government ....establishment.
✓ Letter of confirmation of appointment / employment
✓ Staff salary account does not have to be domiciled with Ultimate MFB.
✓ Instruction to debit from source
✓ Clients must have at least two years left in public service.
✓ 3.5% Monthly Interest Flat Rate.
✓ Request letter from staff.
Required Documentations:
✓ Duly completed application form
✓ Last three months’ pay slip
✓ Last three months bank statement
✓ 2 recent passport-size photographs
✓ Work ID card
✓ Current utility bill
✓ A valid means of ID (National ID, Driver's License, Voter's Card or International ....Passport)
✓ And any other document that might be requested for by Ultimate MFB
Note: Kindly note that all applications undergo an on-site assessment by one of our lending staff prior to a committee decision.