Ecobank payday loan: how to apply

Ecobank, one of Nigeria’s finest banks has recently unveiled rewarding and easy access to funds. The Ecobank payday loan option provides applicants assistance in sorting complex situations with funds

Ecobank offers you a flexible range of loans and an easy repayment method. Before proceeding to allow to apply, let’s quickly look at some fundamental information you need to get started. It is not quite advisable to get a loan from a friend or other outlet,

it could be risky or embarrassing, the duration of payment could be below, the best bet is to apply for a loan with Ecobank as there is an absence of harassment.
The bank short-term loan also known as Xpress loan is a self-solution,

once you meet the requirements, the loan will be approved. Before proceeding to allow to apply, let’s quickly look at some fundamental information you need to get started.

Who is eligible for the loan?

The Ecobank Xpress loan is open to both male and their counterparts. From the age of 18 and above can access the loan. Must in addition have the national identification number.

Loan limit

Applicants can access the loan amount of N 5000 to 1 million nairas. For applicants requesting for the first time, the limits are minimal.

Duration

The loan duration for the loan is 1 month to 6 months; it is flexible and installments are allowed.

Interest

The accumulation of interest is low, it is slated at the rate of 5% and defaulters pay higher. Significantly, you have an idea that the bank penalizes borrowers who fail to pack on time.

Requirements

1. A bank account with Ecobank and a bank verification number are required.

2. No outstanding loan at other banks or lending firms.

3. Your salary must be have been paid into your Ecobank account for the past six months or more

4. Must have been using the bank mobile app or internet banking.

5. A number linked to your Ecobank account.

Read also: how to register for Ecobank mobile app, internet banking and checking of account statement

How to request a loan

The loan can be collected via Ecobank mobile app or internet banking, the steps are simple and quick, just follow the steps below.

1. Dial *326# with your number

2. Find the option for a loan, select the personal loan and continue

3. Input your account number and proceed.

4. Select your preferred amount and input your four-digit pin.

5. Accept the terms and conditions and the loan will be disbursed into your account.

You can contact Ecobank customer care for more details on Ecobank payday loans.

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