May 17, 2022
Personal Loan

List of Accion Microfinance Bank Loan Facility and Requirement

Accion Microfinance bank is one of the pioneer microfinance banks in Nigeria, that has been providing loans to individuals and business owners for a sustainable economy. The types of loan packages in Accion Microfinance bank include; My Own Loan, Brighta Loan, SME Capital Loan, My School Plus Loan, My SME Education Loan, and more other loan facilities.


In this article, we will be discussing everything you need to know about Accion MFBank, their requirement, and how you can apply as an individual or business owner.


Types of loans in Accion Microfinance Bank

Just like every other microfinance bank, Accion microfinance bank also has different loan packages for individuals and small & medium-sized businesses. These loan packages include;

  • My Own Loan

This type of loan is designed to help business owners who are in need of capital to scale and expand their business. Thi type of loan is just like a working capital for daily business activities.

  • Brighta Loan

This type of loan package is designed for small & medium-sized businesses to boost sales and grow their business. This packaging range from N50,000 to N150,000 and business owners are expected to pay it back within 1 to 3 months a an interest rate of 8%.


there is a special consideration for business owners in the health care, fashion, and personal care sector and as well as traders.


  • The customer should have paid any existing loan with Accion microfinance bank
  • The customer must provide his/her BVN during the application


SME capital Loan

This type of loan is designed for SME owners, they serve as working capital and it is expected to be used in sustaining and boosting small and medium-sized businesses. Loan repayment can be scheduled to a monthly plan, its interest rate is competitive and borrowers are opportune to borrow a higher loan amount based on their repayment record.


My school Plus loan

This type of loan is designed and only available to business owners who operate private schools and need access and capital to expand their facilities.


The borrower can get a loan grant of about N5 million with an interest rate of 9% per annum. They can as well pay up within the tenure of 12 months. However, borrowers can only access 40% of loan requests for school plus and 60% for school extra. there are other fees on the loan such as a 1% rate for insurance, 1% rate for commitment 


  • Proper documentation and account opening is compulsory
  • Proof of school ownership and existence
  • Proof of business viability
  • The school must have been registered and existed for over one year
  • The school must be willing to open a bank account with Accion Microfinance Bank.

My SME Education Loan

My SME education loan is specifically designed to serve the needs of small and medium-sized business owners in the education sector. Its benefits include working capital and asset loan for schools, loans that can be paid every 3 months, a low-interest rate, easy loan application and approval, and the opportunity to borrow higher loans in the future with Accion Microfinance bank.


My Own Home Loan

My Own Home Loan is designed for individuals who want to have their own house, school, and business facilities.


  • Proof of ownership of debt-free land property with necessary documents
  • Individuals should have been in business for more than 12 months with experience in generating sales and profits
  • Individuals must have operated for a minimum of 6 months in the same location


My Own Asset Loan

This type of loan is designed for individuals to upgrade their home and office facilities with equipment of their choice.


My Annuity Loan

This type of loan is specifically designed for pensioners who are in need of loans to start a business after retirement.



  • Only pensioners are eligible for this loan
  • They must be on a monthly pension
  • The individual must be earning at least N16,000 every month
  • Individuals must be able to meet up with the necessary requirement and the application process
  • Client to authorize PFA to make monthly annuity into client’s account with Accion
  • Repayment of loan debited from client’s monthly annuity payments

Brighta Solar Loan

This type of loan is designed for people who wish to enjoy an uninterrupted power supply but need capital to upgrade. It is easy to secure, affordable, and convenient with a low-interest rate.


How to apply for Accion Microfinance loan

To apply for an Accion microfinance loan, the best method is by visiting the nearest Accion microfinance bank in your locality. You can also register through Accion microfinance bank internet banking after downloading the mobile app from the google play store or Apple Store.




gbadamosi Asisat

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