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Asset Loan

Asset Loan

Who can get a loan?

To get a loan you must:
  • Be at least 18 years old
  • Be a Nigerian resident, with proof of address
  • Provide proof of your income
  • Pass a lender’s credit check

Targeted at clients in need of home improvement, this helps in purchasing some home items and appliances.

Fill The Form to Apply

Asset Loans

An asset loan, often referred to as a consumer durable loan, is a type of financing that allows individuals to purchase home appliances and other consumer durables by spreading the cost over a period of time. These loans help consumers afford essential household items without paying the full amount upfront.

Who It Is Meant For:

  1. Homeowners and Renters: Individuals looking to purchase home appliances or electronics for their personal use.
  2. First-time Homeowners: People furnishing their new homes with necessary appliances.
  3. Those Needing Immediate Replacements: Individuals who need to replace broken or outdated appliances quickly.
  4. Budget-Conscious Shoppers: Consumers who prefer to manage their cash flow by spreading the cost of big-ticket items over several months or years.

Commonly Financed Items:

  • Refrigerators
  • Washing machines and dryers
  • Dishwashers
  • Microwaves and ovens
  • Televisions and home theater systems
  • Air conditioners and heaters
  • Computers and laptops

How to Apply:

  1. Submit an Application: Fill out the loan application form with details about the product, your personal information, and your income.
  2. Provide Documentation: Submit necessary documents such as proof of identity, proof of income (salary slips, bank statements), and address proof.
  3. Loan Approval and Agreement: Once your application is approved, review and sign the loan agreement, which outlines the interest rate, loan term, and monthly installment amount.
  4. Receive the Product: After the loan is processed, the funds are usually disbursed directly to the retailer, and you can take possession of the appliance.
  5. Repayment: Repay the loan in monthly installments as per the agreed schedule. Offer auto-debit options for convenience.

Key Considerations:

  • Loan Term: Choose a loan term that balances affordable monthly payments with the total interest paid over the life of the loan.
  • Down Payment: Down payment may be required, reducing the loan amount and monthly installments.
  • Credit Score: Ensure your credit score is in good standing to qualify for better loan terms and lower interest rates.
  • Warranty and Insurance: Consider purchasing extended warranties or insurance for the appliance to protect your investment.

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Steve Jobs

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