Requirements In Obtaining Loan On Efinance Platform, Repayment Plans With Interest And All You Need To Know

WHAT IS E-FINANCE LOAN ?

E-FINANCE loan is one of the many new startups in Nigeria seeking to provide quick and easy loans to Nigerians. The platform is a financial services provider offering short term loans between the sum of a N100,000 to N2,000,000 to customers with proof of monthly incomes.

 

People who seek to obtain loans can have their funds within a short while by simply showing valid credentials such as a means of identification (Work ID & Government Issued ID), bank statement for the last 6months showing inflow of funds and letter of employment or last promotion in place of work.

 

 

How To Apply For E-Finance Loans

To be able to apply for the E-FINANCE loan ,you have to visit the official E-FINANCE  website and apply for a  loan from there. Following application,users can then confirm the amount the seek to collect and the duration they are most comfy with by making use of the online calculator which is available on the website.

When this is done, The team of E-finance will send a notification to you to notify you if your loan application is successful or not. If it’s successful, the requested loan will deposited into the user’s bank account within 24 hours of the approval of the loan successful application. The eFinance team assures to give loans that are free of additional hidden charges to monthly repayment if all payments are made on time, and also claims to process loans swiftly. The loan package is flexible because it runs from 1 month to 9 months.

 

 

Criteria For Consideration Of Seeking For E-Finance Loan

There are certain conditions to be possessed by an individual seeking to apply for a loan from E-finance. Without these conditions,it won’t be possible to get any loan from E-finance and these conditions are :

  1. A loan seeker must be based in Lagos and also work In Lagos.
  2. A loan seeker should be of a legal age to vote in Nigeria and that’s 18 and above
  3. As earlier said ,A seeker must have a monthly verifiable income source.

 

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Types Of Loans Available

On E-finance platform ,there are 3 major forms of loans available for loan seekers and they are :

1.School Loans

E-FINANCE offers a school payment option to parents because of the pressure during school’s fee seasons. This loan package enables the parents and guardians Stay in control of your finances and not be exhausted doing the school fees seasons. This loan can be given upfront of 12months by E-FINANCE.

 

  1. Simple Cash loans

These are simple loans given by E-FINANCE which is  up to two million naira (N 2,000,000.00) for whatever reasons by a loan seeker to ease life and for living.

 

  1. SYP Loans

These are  partnership programs offered to entrepreneurs and businesses minded people who have customers who need to manage their cash inflows.

 

 

How To Repay The Loans

The repayment of loans from E-finance is very easy . All it requires is agreeing to return the loan at a stipulated time which falls under 1 year.

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