Types of NIRSAL Microfinance Bank Loans (How to Apply)

Are you interested in Micro savings, micro loans or you simply want a school targeted loan… The available types of  NIRSAL microfinance bank loans in this article got you covered.

NIRSAL microfinance bank has over 115 branches all over Nigeria, the bank is committed to delivering exceptional financial services to all parts of the country. You can easily visit any of the NIRSAL branches where ever you are.

NIRSAL Microfinance Bank is one of the leading financial institutions operating in Nigeria licensed by the CBN to offer loans for different purposes, one of these is the NIRSAL Covid-19 loan which you can get further information on from covid19.nmfb.com.ng and Anchor Borrowers’ Programme loan. In addition, you can make the best informed loan decisions by comparing loan offers from CBN accredited institutions.

NIRSAL, otherwise know as NMFB is a subsidiary of the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc.), a non-banking financial institution established in 2013 with a mandate to facilitate the free flow of affordable finance and investments to the agricultural sector.

Types of NIRSAL Microfinance Bank Loans

NIRSAL Microfinance Bank is licensed by CBN as one of the leading financial institutions operating in Nigeria for loan acquisition. Established in 2019.

NIRSAL has served as a top microfinance institution for the short period it has been established in the country. NIRSAL Microfinance bank operates with the motive of providing unbeatable financial services to its customers all over the country and beyond. NIRSAL offer numbers of loan product in the country. The information below contain the types of  NIRSAL microfinance bank loans;

1. Anchor Borrowers’ Programme (ABP)

The Anchor Borrowers’ Programme is a Central Bank of Nigeria intervention scheme, that is a single digit Loan, established by the Federal Government, in 2015, for the purpose of boosting the agricultural sector of the economy. It is designed to create an economic linkage between small holder famers and agro-processors/Anchors.

How to apply for Anchor Borrowers’ Programmem Loan? Visit the Portal or You can walk into any NIRSAL Microfinance Bank branch to apply.

2. Agric, Small Medium Enterprise Scheme (AGSMEIS)

AGSMEIS loan is a Nirsal agric loan that provides up to N10 million to small and medium-scale enterprises. Businesses eligible for the AGSMEIS are those involved in creative & art industries . Visit the Portal to apply for AGSMEIS loan or  walk into any NIRSAL Microfinance Bank branch to apply.

3. COVID-19 TCF Loan

The application method for COVID-19 TCF Loan is vested on the eligibility. The eligible applicants includes:

  • Households: Households with verifiable evidence of livelihood adversely impacted by COVID-19
  •  SMEs: Enterprises with bankable plans to take advantage of opportunities arising from the COVID-19 pandemic

To apply for COVID-19 TCF Loan, the first step is to submit an application. The process is easy. Click Here to Apply

4. Nigerian Youth Investment Fund Loan

The NYIF aims to financially empower Nigeria’s youth to generate at least 500,000 jobs. Interest rate under the intervention is 5% per annum (all inclusive). Term loans have a maximum tenor of not more than 5 years. Click Here to Apply

5. Non-Interest TCF Credit [SMEs]

The Non-Interest Facilities loan to SMEs will assist you in the process of building a businesses or expanding an existing business, and maintaining your lifestyle. How to Apply

6. Non-Interest TCF Credit [Households]

The Non-Interest Facilities loan to Households will assist you in the process of building a businesses or expanding an existing business, and maintaining your lifestyle. How to Apply

7. AGSMEIS Non Interest Loan

The AGSMEIS Non Interest Loan Facilities will assist you in the process of building a businesses or expanding an existing business, and maintaining your lifestyle. How to Apply

NIRSAL Microfinance Bank Loans Requirements

The following are the required documents and credentials you must have before you can access a Nirsal loan.

  • Your letter of employment
  • Pay slip
  • Your staff ID card
  • 6 months statement of your bank account
  • Other valid means of ID like your National ID, Drivers’ licence, and so on
  • A utility bill
  • 2 passport photographs
  • A guarantor form
  • 6 months other bank account statement ( if you own another account
  • A Letter of confirmation of appointment/employment.

Other Information

  • Direct debit will be placed on customer’s account.
  • Execution of dud cheques indemnity form.

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