The Parallex microfinance bank is a microfinance bank that is known nation wide for its unique and distinct way and method of creating a very conducive and comfortable banking environment. It is one of Nigeria’s best banking institution and this has been so for many years. The Parallex Microfinance Bank has its branches in several cities across the country. It has been marked as the best internet bank as well as the bank with the best technology during the Nigerian Banking Tech Awards some years back.


“We are delighted to receive these awards which affirm parallex microfinance bank’s position as one of the leading microfinance bank in Nigeria whilst also reiterating and confirming our commitment to professionalism, integrity, quality service delivered to our customers” Mr Femi Otenigbagbe the managing director and CEO said during one of these award ceremonies. The Parallex Microfinance Bank has built over eight hundred microfinance branches all over the country and they have also witnessed a lot of transformation in the banking system and industry as a whole.



Different Types Of Loans Available In The Parallex Microfinance Bank And How To Get Them

  1. Parralex Esusu Loan Account

This is a type of loan that involves the collection of money from you daily and credited into your Parallex Esusu Account.

The money is collected from you by staffs of the microfinance bank who go from customer to customer.

When you sign up for this Esusu plan, you can now get your loan after three month.

The repayment plan for the Esusu type of loan is daily.


READ ALSO- How Use Landmark University Admission Portal And All You Must Know


  1. Parallex Easy School Fee Loan Account

This type is mainly to elevate the burden of school fee payment for your children.

In this type, you have to make daily, weekly or monthly contribution and you cannot withdraw until you are ninety days old on the plan. After ninety days, you can now get a loan that is worth fifty percent of your saved amount in your loan account.


There are several other types of loans offered by this bank. The loans offered by this bank has many benefits of which include;

*You would have successfully finish repaying the loan collected three month after the collection.

*Documents required for applying to the loan are very few and easily acquirable.

These are the benefits among others.


Things that might Interest You.


The Parallex Microfinance Bank In branching Technique.

The Parallex microfinance bank has introduces a very surprising kind of banking.

They have come in conjunction with Sterling bank to provide customers with maximum comfort while banking with them.

This fascinating systems allows users of the Parallex microfinance bank to perform transactions from any sterling bank branch closer to them. This service is available to everyone irrespective of your account type.


It can either be savings or current, you are good to go with this service. This service allows you to make any transaction of your choice, but only those who have a current account can make withdrawals using this system of banking.


The inbranching system introduced by the Parallex bank is a service that has proved to be of utmost importance, because customers of the Parallex microfinance bank do not need to get to their bank anymore before making any transaction of their choice.


Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!