The Fixed Term Loan is a product designed for individuals who require short- to medium-term financing for their personal projects. The loan can be used for any purpose and is repayable in fixed monthly installments.
Features:
- The loan facility that can be given to an individual ranges from N200,000 to N5,000,000;
- Loan amount is tied to acceptable monthly Installment To Income(ITI);
- The loan tenures are 12, 24, and 36 calendar months;
- Repayment of Principal and Interest are amortised monthly.
Benefits:
- The Fixed Term Loan avails individuals the funds to cater for personal needs.
- Quick turnaround time from the point application is submitted to when fund is disbursed into the current account.
Requirements:
- Earns a minimum net monthly income of N50, 000;
- Salary must be domiciled with Stanbic IBTC Bank PLC;
- Continuous employment for a period of 12 months;
- Letter of introduction from employer;
- Verifiable payslips;
- Nigerian citizen with permanent residency;
- Six months account statement (for new customers);
- Proof of address.
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