School Fees Advance 2017-12-20T16:44:15+00:00

School Fees Advance

Get to pay your children’s school fees with ease

Do you need a short-term loan to pay the School Fees of your children? Use Wema School Fees Advance.

  • Minimum Facility Amount of N50,000.00
  • Maximum Facility Amount of N3,000,000
  • Maximum tenor of 3 months (For Nursery/Primary/Secondary schools) and Maximum tenor of 9 months (for tertiary institutions) per request
  • School/Tuition fees will be paid directly to the child/ward’s school
  • Equal monthly repayments or bullet repayment comprising of principal and interest
  • Shall not exceed 60% of parent/guardian net monthly salary
  • Maximum number of children is four subject to DSR (Debt Service Ratio) restriction
  • Supports the parent/guardian’s desire to give their child quality education
  • Access to funds for early payment of child/ward’s school fees
  • Borrowers employer does not have to be listed with the Bank
  • No collateral needed
  • Easy renewal of loan
  • Flexible repayment terms
  • Cheaper interest rate on loan based on operation of Royal kiddies/Purple account
  • Completed School Fees Advance application form
  • Letter of introduction: This is to determine the employment status of the parent/guardian
  • Irrevocable letter of domiciliation from the employer: This is to ensure that the parent/guardians salary will remain with Wema Bank until the advance is liquidated
  • Invoice of School/tuition fees
  • Proof of identity (Driver’s license, National ID, International Passport or Voters card) Employment ID is not sufficient
  • Proof of address i.e. utility bill
  • Last three month’s pay slip
  • Six months’ salary statement of account (for customers whose salary accounts cannot be or are not domiciled with Wema Bank)

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