Personal Loan (Fixed Term Loan)
If you are employed by a recognized organization and you operate a Salary Current or Savings Account with us, and you need a loan, our Personal Loan is for you.
- Available to existing salary account holders, based on salary domiciliation.
- New customers, will in addition to salary domiciliation, provide evidence of consistent salary payment for most recent 3 months.
- Maximum loan amount is 7 multiples of net monthly salary, subject to a maximum of N2 million
- Maximum loan tenor of 36 months.
- Loan Top-up available after 6 months of regular monthly down payments.
- 48 hours loan disbursement.
- Available to confirmed employees only.
- Apply for loans & overdrafts at the convenience of your office
- Low turnaround time for loan & overdraft disbursement (48 hours)
- Zero account maintenance fee on the current account
- Access to mobile & Internet Banking services
- Duly completed loan application form & executed offer section
- Letter of Introduction signed by an authorized signatory of employer
- Irrevocable letter of salary domiciliation (duly executed by employer’s authorized signatory). Please note that the signatories must be independently verified by a representative of Wema Bank
- Proof of income (3 months’ pay slip or 3 months account statement)
- Proof of address (Physical visitation and report by bank representative) supported with a copy of recent utility bill
- Proof of identity (Staff ID is acceptable but National ID, International Passport or Driver’s License may be required where necessary)